Isle of Man Removes Restrictions on US Bets – January 11th, 2005

The Isle of Man has officially announced that it will not impose restrictions on companies within its jurisdiction on accepting bets from US citizens.

The decision, which has been anticipated through leaked information for some time, comes as a response by the island’s ruling Council of Ministers to a recent report by the Department of Trade and Industry, which outlined the potential economic opportunities for the island.

A statement jointly issued by the DTI and Treasury said the changes had been implemented to “make the well-regulated environment more commercially attractive”. Other changes to legislation include the regulation of P2P poker, the scrapping of the need for a GBP sterling 2 million license bond and the need for all changes to software to be certified in advance.

The island hopes that the move will create favorable conditions to businesses looking to relocate to the island, amid speculation that industry leaders CasinoOnNet and PartyPoker are considering a move from Gibraltar.

DTI Minister Alex Downie said: “I believe that the Island will be the focus of increasing numbers of companies who are looking for a well-regulated and reputable jurisdiction and who are attracted by the superb telecommunications infrastructure and support services that we can offer.”

EasyPlay.Vegas believes that as Gibraltar licensed gaming companies are allowed to take US Bets this move by the Isle of Man will not attract companies such as Party Poker and Casino On Net away from Gibraltar. Indeed Casino On Net already allow US players, as do other Gibraltar licensed Gaming Companies such as 32red.