|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 for some time, comes as a response by the islandís 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 £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 favourable conditions to businesses looking to relocate to the island, amid speculation that industry leaders CasinoOnNet and PartyPoker are looking to 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.'