Isle of Man Gambling Supervision Commission
Isle of Man Gambling Supervision Commission is a regulatory body that supervises the gambling operations on the island. It is one of the oldest regulatory bodies for gambling in the world established in the year 1962. It has jurisdiction over all the land-based and online gambling activities on the island.
Casinos have to prove their trustworthiness and secure nature of operations to get a license. Players have faith that the Commission will safeguard their interest through its regulations and guidelines.
The Isle of Man Gambling Supervision Commission was established with the aim to offer a crime-free gambling industry on the island. They have strengthened the system to ensure the safety of all the players. It discourages the addiction to gambling and encourages safe gambling practices for a healthy gambling industry to thrive.
Obtaining a License
The Isle of Man Gambling Supervision Commission has come up with stringent gambling regulations and procedure to get a license for online casinos. The license received from the Commission is held in high regard in the gambling circuit. It has emerged as an enabler of serious, competent, stringent and transparent gambling. It offers high-level security to the players by ensuring proper digital infrastructure for the online casinos. These and many more factors form the eligibility criteria for a license from the Isle of Man Gambling Supervision Commission.
Here are the criteria for obtaining a license are:
- The business has to provide detailed information about the clear ownership of the casino.
- The business has to keep a separate player’s fund for their winning amount. This fund excludes the cost of business operations and maintenances.
- The business and the owner/s should not have any link with any kind of crime in any form.
- They should be competent enough to handle online casino and related matters.
- They should be equipped with a sophisticated tool for cybersecurity.
- They should state accurate and adequate papers stating sufficient funds to run an online casino.
Other licenses used by online casinos
Benefits of Licensing
- Player protection – Isle of Man Gambling Supervision Commission ensures that the money and the data provided by the players are protected and secured. The commission monitors and makes it a point that the casinos are equipped with all the necessary infrastructure to provide security against cyber attacks.
- Fair gaming – Isle of Man Gambling Supervision Commission monitors the gambling industry on the island with piercing eyes. They ensure that casino games are hosted in a fair and transparent manner. The casinos or the providers do not control the results of the various games. With unbiased games, the players get a real chance of winning.
- Operator accountability – The Isle of Man Gambling Supervision Commission keeps a tab on the operations of the online casinos diligently. They ensure that the online casino is accountable for their actions and there are no misgivings or false promises made by the casino to lure the players.
The Isle of Man Gambling Supervision Commission is among the oldest gambling regulatory bodies established in 1962. Since its inception, the Commission is known for its strict regulations and laws to safeguard the player’s interest.
They regulate and monitor the gambling industry on the island and ensure that it stays free of frauds, and each casino runs a legitimate operation.