Isle of Man to Issue B2B License

Isle of Man, one of the leading places for jurisdiction of online gambling portals, made an announcement recently, stating that a new B2B (business-to-business) license called the Network Services License has just been issued by the Gambling Supervision Commission. The license will enable operators of online gambling sites based in the Isle of Man to offer their platforms to online businesses throughout the world.

Move to encourage B2B relationships

The last couple of years have seen a growth in B2B relationships between operators of online gambling sites. By issuing this license, the Isle of Man has taken a step forward in encouraging gambling sites licensed at their jurisdiction to enter into B2B relationships. Issued under the Online Gambling Regulation Act 2001, operators will have to pay a sum of £50,000 per year and an additional £5,000 for each overseas customer. Retained profit will incur a duty of 1.5% maximum.

The announcement was made by the spokesperson of the Gambling Supervision Commission and it was also stated that the license has been introduced with the purpose of attracting newer businesses to the Isle of Man as well as providing better opportunities to companies presently licensed at the jurisdiction.

Garth Kimber, head of the Online Gaming Development at the Isle of Man, commented on the launch saying that that it now enabled the jurisdiction to cater to online gambling businesses of every model. The license is available in three tiers; the Network Services License where gaming operators could offer their platforms to other companies, the Standard and Sub-License for the operators dealing with direct customers.

Depending on the type of B2B relationship a gaming company wishes to pursue, the level of license will be decided upon. The application process for all the licenses will be the same and will cover all games starting from sports betting to poker.

Keeping pace with industrial changes important

Kimber further said that internet-based gaming businesses are going through a vibrant phase and it is important to keep pace with this dynamism. The Gambling Supervision Commission maintains this ability sans involving itself in complicated licensing policies. The commission offers financial aid to online gambling portals creating economic value in the Isle of Man through the Department of Economic Development.

The online gaming development team of the Isle of Man government is already involved in talks with parties interested in availing the B2B license. Kimber was, however, quick to add that Isle of Man’s gaming jurisdiction will not stray away from the key issues of online gaming, that is ensuring the safety of player funds and fairness of the games.

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