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The Isle of Man is a similar situation as Gibraltar in that it is associated with the UK but not directly under its jurisdiction. The name of the island’s parliament is the Tynwald, and it claims to be the oldest ruling body in existence. Consequently, the UK government does not make any decisions regarding online gambling legislation on the Isle of Man.
Globally, the Isle of Man is viewed as an excellent location by offshore operators seeking to be listed on the Alternative Investment Market (AIM) in London
Surprisingly, the Isle of Man has supplied the highest amount of non-UK based companies to the top 100 of the AIM. Additionally, the island has long held an ‘AAA’ rating for accreditation, which helped more than a few inward investments over the years.
Internet gambling legislation was implemented in 2001 with the aim of cultivating conditions favourable to operators, while also protecting players at the same time. Online gambling operators have been delighted by the favourable financial conditions. A number of operators are fortunate enough to not have to pay any tax on their activities. Specifically, the government does not claim wealth tax, inheritance tax or capital gains tax.
Preceding the 2001 legislation is the Gambling Supervision Commission (GSC). Founded in 1962, the commission is completely independent and places player protection at the core of its activities. It is the GSC that online gambling operators should approach when attempting to secure a license to operate from the Isle of Man. Legal advice cannot be provided by the GSC and must be sourced from a private source.
Potential applicants are recommended to study the Online Gambling Regulation Act (ORGA) from 2001. ORGA is a thorough document that covers all possible games connected with the internet, betting, wagering and chance.