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Isle of Man and GamblingManx Betting LawsBy Reno Rollins The Isle of Man is a territory located in the Irish Sea. While it is not part of the United Kingdom, it does recognize Queen Elizabeth as its Head of State, and the 75,000 residents of the island are considered British citizens. The most famous individuals to come from the Isle of Man are The Bee Gees. It does not belong to the European Union, but it does have a unique relationship with the EU due to the UK’s Treaty of Accession. The Isle of Man has the oldest continuous parliament in the world. The Isle of Man has a low tax economy with no inheritance tax, death tax, stamp tax, wealth tax or capital gains tax. Income tax rates are 10% and 18%, and the corporation tax is set at 0%. There is a personal income tax limit of 100,000 British pounds, which went into effect in April of 2006. Gambling Laws on the Isle of ManGambling is legal on the Isle of Man. You must be at least 18 years of age to participate in any gambling activities. The government of The Isle of Man works hard to encourage the development of both gambling and e-gambling on the island. The National UK lottery is available on the island, along with bingo, one casino, sports betting, and online gambling. Gambling Developments on the Isle of ManThe island’s Gambling Control Commission was established in 1962. It is responsible for the licensing and regulation of casinos, betting, lotteries and slot machines. In addition, the Commission is also charged with regulating all online gambling activities. The primary concerns of the Commission are: - Keeping the gambling industry crime free. In 2001, The Isle of Man became one of the first jurisdictions to pass legislation designed to protect consumers and benefit e-gaming and gambling businesses (The Online Gambling Regulations Act of 2001). Since this time, online casinos have been allowed on the island, and some major companies such as MGM Mirage were initially attracted. By 2002, five licenses were approved for gambling operators from around the world. But the boom didn’t last long, and many of these companies soon pulled out (including MGM). In 2003, no gaming operators held a license from the island nation. In January of 2005, the island’s Council of Ministers approved a policy change which allowed bets to be accepted from the United States. In April of that same year, a zero percent income tax was announced for e-gaming companies operating within The Isle of Man (assuming that they agree not to accept bets from Isle of Man residents). Due to increased efforts to attract companies, the Isle of Man reported a 30% increase in applications for e-gaming licenses in October of 2006. On September 1st, 2007, the UK Gambling Act of 2005 went into effect. Of particular importance to online gambling operators was a provision which made it illegal for gambling operators from a non-European Economic Area to advertise in the UK. But the UK Secretary of State is entitled to determine which countries are regarded as an EEA state. Approved countries are placed on what has become known as the UK White List. Luckily for the Isle of Man, they were placed on the list a month before the new law went into effect, and business on the island continued without interruption. Online Gambling Licenses in the Isle of ManThe following companies have received licenses to operate on the Isle of Man: - Ascot Sports Limited (They run Ascot Sports. The
company will soon be moving to the Philippines.) NetellerNeteller is a leading online fund transfer company. The company was founded in 1999 and is based in The Isle of Man. They have often been used to transfer funds for online gambling, but the passage of the Safe Port Act by the United States caused a massive drop in their total revenue. After serious problems with the U.S. government, Neteller had its American accounts frozen. But on July of 2007, they were finally able to begin retuning money to their customers ($94 million to hundreds of thousands of clients). After January 26th, 2008, U.S members will not be able to request release of their funds. Casinos on the Isle of ManThere is only one casino currently in operation on The Isle of Man. The Gala Casino Isle of Man is located at the Hilton Hotel and Casino in the city of Douglas. The casino is open seven days a week from 7pm until 4am. Available games include: - 4 American Roulette table (minimum-50p maximum-50
pounds Lottery on the Isle of ManThe UK National Lottery is available on The Isle of Man. Much of the proceeds from the lottery go towards projects such as set-up for the 2012 Olympic Games, Paralympic Games, Scottish Arts Council, UK Film Council and many others. The following lottery games are available: - Lotto - Pick 6 numbers from 1 to 49. Instant win games include: - Christmas Presents Bingo on the Isle of ManBingo is both legal and popular on The Isle of Man. Bingo halls are available throughout the island, but the most notable place to play is at the Hilton Isle of Man (the same location as the island’s lone casino). The hall will hold 300 players, but you must be 18 years or older to play. Sessions start at 6:40pm every day. |
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