Obtaining a Gambling License in the Isle of Man

The Isle of Man is a small island in the Irish Sea, with a population of just over 80,000. It is a crown territory of the United Kingdom. However, despite its small size, the Isle of Man is one of the world’s gambling centers. Casino activities are entirely legal in this jurisdiction, and obtaining a permit to provide relevant services in various countries worldwide is possible. Lawtter Solutions offers clients gambling licensing support services in the Isle of Man. We perform all the necessary tasks to obtain a license and achieve a positive result quickly and successfully.

Advantages

What Are the Advantages of a Gambling License Issued in the Isle of Man?

Registering a casino with an Isle of Man license has several significant advantages. The main ones are as follows:

1

Long-standing standards

The Isle of Man Gambling Commission (GSC) is one of the first gambling regulators in world history. It has existed since 1962, and during this time, it has developed obvious and understandable rules of operation.
2

Economic and political stability

The Isle of Man is a crowned territory of Great Britain, which a governor governs. There are no significant economic shocks, political crises, or other problems here.
3

Attractive taxation system

The Isle of Man has a regressive taxation system for casinos. The higher the gross profit of the company, the lower the taxes. The maximum rate is only 1.5%.
4

Ability to use cryptocurrencies

The island's gambling regulator allows you to accept payments, pay out winnings, and accept bets in cryptocurrency.
5

A single license for all types of activities

For example, obtaining an Isle of Man internet poker license is not required separately. A single license allows you to provide gambling services in any format – slots, sports betting, card games, etc.

Thus, the Isle of Man is one of the most popular jurisdictions for applying for a gambling permit.

Regulation

How Is Gambling Regulated in the Isle of Man?

The Gambling Commission (GSC) licenses gambling activities in the Isle of Man. It is the only regulator in the jurisdiction that has the authority to do so. The regulator offers the opportunity to obtain one of three types of licenses.

 

Full License

Companies with this license have the right to provide services to customers on their platforms and collect and store user information. Full License also allows companies to cooperate with other White-Label operators and provide their software and games developed by them. At the same time, a company with a Full License is not responsible for the actions of the organization with which it cooperates under White Label.

 

Sub-License

Companies with this license have the right to provide services to customers based on White Label – the use of software products of another company. An exclusive agreement is made between the leading company and the sub-licensee to use the games or software of the main company. This license has a lower cost and is suitable for companies with a customer base but no proprietary software products. Only one Sub-License can be obtained, but applying for an upgrade to a Full License is possible.

 

Network License

A Network License allows you to get the same rights as a Full License but with one crucial difference. If the casino is networked, this document allows you to accept customers from the same network without additional registration. If the client plays in a casino of the same affiliate network, they will not need to re-create an account, register, and verify.

Requirements

What Are the Requirements to Obtain a License?

When it comes to requirements, there are several substantial nuances you need to meet to obtain an Isle of Man gambling license. Familiarize yourself with the necessary information in the list:

Company registration in the Isle of Man. Only companies that are registered in this jurisdiction can obtain licenses. It is also mandatory to have a bank account in the Isle of Man.

The casino must have at least 2 directors. At least 2 directors must be residents of the Isle of Man.

It is necessary to store casino servers on its territory to receive a license. Accordingly, premises that meet the current standards will be required.

Furthermore, all casinos that operate in the Isle of Man must pay taxes. One of the advantages of the jurisdiction is the regressive taxation system. The tax is calculated based on gross profit.

  • Up to 20 million British pounds – 1.5%;
  • From 20 to 40 million British pounds – 1%;
  • Over 40 million British pounds – 0.5%.

 

It is important to know that the gambling regulator is entitled to suspend a license in the case of non-compliance or non-payment of taxes.

Documents

What Documents Are Required to Obtain a License?

You need to submit a package of documents to obtain a gambling license in the Isle of Man:

01

Registration documents of the legal entity.

02

Data on ultimate beneficiaries and directors of the company.

03

Bank account details.

04

Certificates for software and games with a detailed description.

05

Data about the company's premises and servers.

06

AML/KYC policy.

07

Company business plan.

A registration fee must also be paid at the time of application. The amount is £5,000. The receipt must be attached to the application package.