Types of Licenses
There is just a single license on offer by the Isle of Man Gambling Supervision Commission. Called an OGRA (Online Gaming Regulation Act), this is a 5-year license that allows online casinos and sports books to provide their services from within the country of Isle of Man.
The fees involved with this gaming license start off with a £5,000 administrative fee which is to paid during the initial application. Then, the full license fee of £35,000 is to be paid annually alongside the gross gaming yield duty. That duty is 1.5% for online casinos not exceeding £20 million in GGY, 0.5% for those with a GGY of between £20 million and £40 million, and 0.1% for a GGY of more than £40 million.
Areas of Focus
The Isle of Man Gambling Supervision Commission places a lot of focus on fairness, player protection, and problem gambling. In particular, underage gambling and responsible gambling are two areas that they are known for being very strict about in terms of their conditions of licensing.
They also ensure that all online casinos licensed by them keep player funds in segregated bank accounts. This is to keep player funds away from operating funds so that players will be protected even in the event of an online casino going bust.
Software Testing and Licensing
As part of the conditions for applying for and being issued a license with the Isle of Man Gambling Supervision Commission, online casinos have to agree to have their software tested for randomness and fairness. This is to ensure that the random number generator (RNG) software is providing random and fair results for players and that the listed return-to-player (RTP) percentages are accurate.
This testing is carried out upon application and on an annual basis by approved third-party independent testing agencies such as eCogra and Technical Systems.
How to Achieve Licensing
Applying for a license from the Isle of Man Gambling Supervision Commission is fairly straightforward. An application form should first be completed and submitted along with the application fee. The commission will then conduct their thorough investigation into the company, the people involved in the company, the financials of the operation and so forth.
A decision will be made within a couple of months in most cases and should an applicant satisfy the Isle of Man Gambling Supervision Commission, they will be granted a 5-year gaming license which allows them to work and provide their services from within the Isle of Man.
Conclusion
The Isle of Man Gambling Supervision Commission may not be one of the most well-known regulatory authorities around, but they license some pretty big names in the gambling industry. That alone is a big indicator that this authority is one that can be trusted to regulate effectively, efficiently, and to very high standards. As a player, there is not too much more you can ask of a regulatory authority.
