Isle of Man Gambling License

The Isle of Man is a respected online gambling licensing
authority that issued its first license in 2001. Any gambling
site licensed by the Isle of Man can be considered a safe and
legitimate place to play real money games. Unlike some of the
other gambling licenses that can be obtained in other parts of
the world, a license from the Isle of Man holds weight in terms
of safety and legitimacy.

This is one of the few licensing authorities whitelisted by
the UK’s Gambling Commission. What that means is the UK
government is satisfied with the standards and depth of
investigation that go into issuing licenses to operators. Any
company with a license from the Isle of Man is able to advertise
and offer services to citizens of the UK.

Some of the biggest names in online poker, sports betting, and
gambling are registered through the Isle of Man. These include
names as big as PokerStars, Paddy Power, and Full Tilt Poker.

Player Protections

The mission statement of the Isle of Man Gambling Supervision
Commission is as follows:

The commission’s primary objective is to ensure the
protection of players in order to maintain the legitimacy of
licenses issued by the Isle of Man. These goals are accomplished
by:

• Ensuring all operators have a system in place to protect
  player funds.
• All deposits and winnings are held in a secure location
  enforceable by the laws of the Isle of Man.
• A bank guarantee is required between the operator and a
  bank. If the gambling site is unable to pay its players,
  then the bank does so.
• A trust fund must be established. The trust deed
  controls how money enters and leaves the bank account of the
  operator.
• The gambling commission conducts random audits to ensure
  the money held in the bank and trust fund match player
  accounts.
• All gambling sites must be audited by an independent
  firm that ensures the randomness and fairness of the games.
• The commission monitors the advertising, activities, and
  policies of all operators.
• The commission is able to receive and investigate player
  complaints.

Licensing Process and Fees

A full license from the Isle of Man can be obtained only
after submitting an application, paying the proper fees, and
underdoing a thorough investigation. Anyone interested in
obtaining a license must establish a Manx company, keep at least
two local directors, one local designated officer or operations
manager, and keep gambling accounts in an Isle of Man bank.

After the application has been submitted, the commission will
perform an investigation that looks into the backgrounds of all
people involved in the operation, the backgrounds of anyone with
a 5% or greater stake in the operation, the financials of the
operation, the terms and conditions, game rules, business plan,
internal controls, software providers, and much more.

All necessary paperwork can be found at the Isle of Man
gambling website posted at the bottom of this page. It’s a
fairly in-depth vetting process that ensures not just anybody
can come in and set up shop. It’s a chore for operators, but it
gives players the confidence that a license from the Isle of Man
actually means something.

Fees:

• Application fee: £5,000
• Yearly license fee: £35,000

What This All Means for Players

What this all means for players is any gambling site with a
license from the Isle of Man is probably a good place to play
real money games. The Isle of Man doesn’t just hand out
licenses to whoever wants one. Sites must be well organized,
financially stable, and owned by reputable people.

You can also check the Isle of Man website for a list of
current license holders. If you’re ever in doubt about the
authenticity of anyone’s claim to have a license, you can check
that list and see if that person/site is legitimate.

If you are thinking about applying for a license from the
Isle of Man or are just looking for more information on what
they are all about you can visit their website or get in contact
with them either through email or phone. We have gone ahead and
given all of their information below:

• Website: http://www.gov.im/gambling/
• E-Mail: [email protected]
• Phone: 01624 694331