Operators based in the Isle of Man have been given official approval to accept bets from the US, thanks to a long awaited policy change from the Island’s Council of Ministers.
The ruling overturns a long standing policy that was put into place at the request of the Island’s initial licence applicants in 2001.
The domicile’s legislation states operators may accept bets from any country, provided they accept full responsibility for their actions.
But firms based on the domicile had been prevented from taking US bets through an agreement with the licensing authorities.
However, once the initial operators, including the US casino giant MGM Mirage, left the domicile in 2002 there has been no commercial reason to persist with the policy.
And the Council has ruled it will not act to prevent any operators that wish to take bets from US citizens in the future.
It is a major boost for the domicile based off the North West coast of England, which has struggled in the face of competition from rival jurisdictions with no US restrictions.
A statement jointly issued by the DTI and Treasury said teh regulations had been reviewed "in order to make the well-regulated environment more commercially attractive".
"I believe that the Island will be the focus of increasing numbers of companies who are looking for a well-regulated and reputable jurisdiction,’ Alex Downie, minister for the Isle of Man's Department of Trade and Industry, told the Isle of Man Online.
The policy change mimics a move from the UK government, which indicated that it would allow UK-based operators to accept bets from the US under its proposed gambling bill.
There will also be significant changes made to the Island’s regulatory infrastructure, with more specialised egaming personnel appointed during 2005.
A new membership comprised of professionals with egaming experience will be appointed to replace the existing board once the current commission’s term expires.
The new commission will have an expanded remit and will be given new powers to police the industry on the island more effectively.
source : egaming review magazine
