The Isle of Man has seen a 30% increase in demand from global gaming operators, amid proposed changes in regulation and structure in various jurisdictions.
The number of licensees under the Gambling Supervision Commission now totals 55, an increase of 21 in the last 12 months, in stark contrast to just eight licence approvals in 2019.
Uncertainty surrounding the impact and scope of jurisdictional and political changes is thought to be the reason behind the growing demand, with the region’s handling of Covid-19 and its introduction of a new software supplier licence also having a strong impact.
“We are exceptionally busy at the minute processing a significant rise in the number of applications for online gambling operators,” said Steve Brennan, chief executive of The Isle of Man Gambling Supervision Commission.
“We continued to work throughout lockdown, and over the last 10 months, we have received or completed a considerable number of applications. By the time we have closed those out and added recent applications, we will have 60 licences to supervise.”
The significant rise in the number of applications comes as companies aim to incorporate strong regulation around player protection, thus providing reassurance for the likes of banks, investors and payment service providers.