Online Casino Licensing Process in the Isle of Man
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In recent years the Isle of Man has become an increasingly important hub for online casino and sportsbook operators and for casino software and content providers, mainly thanks to its reputable licensing process.
In fact, an operator which holds an Isle of Man B2C License can be regarded as a trustworthy entity as it must stick to strict rules and regulations in order to obtain the aforementioned license. Authorities in this jurisdiction also offer B2B licenses, with top providers like Yggdrasil already applying and obtaining such certification.
There are major changes happening to iGaming jurisdictions all over the world, but the Isle of Man license has remained a symbol of reputation for online casino operators, certifying their compliance both with industry standards and legal requirements.
Moreover, any operator holding an Isle of Man B2C License is required to safeguard the deposits of players and make sure they receive their winnings if they prove to be true and fair.
Operators holding a license in the Isle of Man are also required to uphold principles of fairness, transparency, and security, making sure that they protect the interests of all parties involved. License holders have to submit reports to the Isle of Man Supervision Commission every three months, and in those reports they have to include vital information in regard to Anti-Money Laundering/Combating the Financing of Terrorism reporting, as well as financial data.
Access to Multiple Markets
Holding a license in the Isle of Man allows online casino and sports betting operators to enter multiple markets on different continents, including Asia, Africa and South America. These are pre-regulated markets which can be very lucrative for operators.
Moreover, the Isle of Man has a special status, and it can offer appealing financial incentives, which include corporation and capital gains tax of 0%. Dividend taxes are also non-existent in this jurisdiction.
Operators licensed in the Isle of Man can choose any software provider they like with no restrictions whatsoever, and they are also free to pick between the numerous payment service providers available on the market.
In general, an operator which applies for a license in the Isle of Man should not have to wait more than twelve weeks between making the submission and the actual hearing regarding the respective license.
Among the most popular online casinos which hold an Isle of Man B2C License we can mention 188Bet Casino, 5Dimes, Luckbox Casino, King Dice Casino, CasiYou Casino and Spin-Ace Casino.
