Applications for online gaming licenses were initially accepted on the Isle of Man in June of 2001. By 2002, licenses were distributed to five gaming operators from around the world. The rapid growth of the market, however, was followed by an even more rapid crash. By 2003, no gaming operators held a license from the island. The Isle of Man has restructured its regulations and infrastructure to rebuild the market. Licensing is now overseen by the Department of Trade and Industry, and there is no longer a USD $2 million surety bond requirement. Instead, an insurance bond is required and its price is negotiable, making licenses more available to smaller operators. In January 2005, a policy change approved by the Island's Council of Ministers enabled operators based in the Isle of Man to accept bets from the United States. In April of 2005, the island announced a zero rate of income tax for the e-gaming sector. The licensing application fee is ¡ê1,000. The annual license fee for a betting site is ¡ê35,000. There is a 2.5% tax on net profit from bets up to ¡ê1,000,000. Net profits over that amount are taxed at a reduced rate. The corporation tax is 0%, provided the site does not accept bets from Isle of Man residents.
Address
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Website
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Fax |
| Isle of Man Gambling Commission Homefield 88 Woodbourne Road Douglas, Isle of Man United Kingdom IM2 3AP |
www.gov.im |
+44 1624-613777 |
| Email |
Tel |
| gaming@gov.im |
+44 1624-694303 |
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- Site Info
