The world’s oldest continuous parliament, Tynwald, is another thing which makes this island a little different than its closest neighbours.
An additional thing which makes the Isle of Man stand out from other small islands in Europe is its booming insurance and online gambling industries. In fact, these two industries generate 17% of the island’s GNP. Online gambling in particular is an industry which is on the constant rise on the island and that is because it has quite lax and yet fair laws when it comes to online gambling.
Isle of Man Gambling License
The chief regulating body which makes sure that the Isle of Man will remain as an online gambling haven is the Gambling Supervision Commission. It sets out requirements and regulations dealing with lotteries. Also for betting, bookmaking, amusements with prizes and totalizers. Most importantly though, it also makes other regulations. Such as the Gaming, Betting and Lotteries Act and the Online Gambling Act of 2001 which regulate online gambling.
Gambling Supervision Commission
The Gambling Supervision Commission is a gambling regulatory body which is completely independent. It was established in 1962. It has seen a particular increase in the number of licenses it gives after the boom of online gambling.
More importantly however, the Gambling Supervision Commission is also tasked with regulating online gambling activities such as online casinos, poker rooms, slot sites and so on.
