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Isle of Man Sees Unprecedented Demand in Licence Applications From Global Online Gambling Businesses

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The Isle of Man has seen a huge increase in demand from global gaming operators amid proposed changes to regulation and structure in some jurisdictions.

Initial enquiries, sparked by uncertainty about the impact and scope of jurisdictional and political changes, and positive follow-up discussions have seen service providers on the Isle of Man report an uptick in enquiries from businesses wanting to relocate to the Island over the last 12 months.

There has been a thirty per cent increase in demand this year with the number of licensees to be supervised by the Gambling Supervision Commission now at 55 with several more in the pipeline, an increase of 21 in last 12 months, in comparison to 8 licence approvals in 2019.

The recent regulatory changes in alternate jurisdictions, combined with the Island’s handling of Covid-19 and the introduction of a new software supplier licence has contributed to a significant surge in the number of applications as businesses seek strong regulation around player protection providing comfort to banks, PSP’s and investors.

Steve Brennan, Chief Executive of The Isle of Man Gambling Supervision Commission, comments:

“We are exceptionally busy at the minute processing a significant rise in the number of applications for online gambling operators.

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.”

Speaking on why operators are choosing the Isle of Man, Jade Zorab, Director of Amber Gaming, responded:

“The Isle of Man has proven to be at the forefront of the more notable eGaming jurisdictions over the years. It has a combination of a stable political and economic environment, low tax and advanced IT infrastructure in addition to a cluster of experienced and reliable professional organisations – all of which has created a compelling proposition for eGaming companies both locally and further afield.

“The Island also offers a flexible licensing regime with a pragmatic and efficient regulator, which is especially valuable during a time where there is so much global uncertainty and regulatory changes in several other jurisdictions which brings the prospect of significant operational challenges. Given the Island’s strong reputation and open and innovative approach in the evolving gaming landscape, the future outlook is positive and it is no surprise that the Isle of Man is experiencing an influx of eGaming ventures, which we are proud to support.”

 

Lyle Wraxall, Chief Executive at Digital Isle of Man, adds:

“A key strength of the Isle of Man is its commitment to the development and continued success of the eGaming companies domiciled here. Digital Isle of Man supports this by striving to build and maintain solid foundations for our Island businesses to flourish, offering quick fire advice and tackling obstacles to ease business decisions and burdens along the way.

We have strong heritage and credentials in the eGaming sector and are renowned for our premium regulation which is becoming more and more important to businesses. As businesses licensed elsewhere seek security and continued business growth, the experience and expertise based in the Isle of Man is the logical next step for businesses to mature and grow.

The Isle of Man has a track record of being a safe and secure place for businesses to grow, and boasts a confident, stable economy, with no market restrictions, ensuring minimal disruption to business progress and opportunities.”

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Compliance Updates

Finland notifies EU of gambling tech rules for data vault and OCSS signing

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Finland has submitted technical gambling regulations covering a regulatory data vault and the Official Control Signing Service (OCSS) to the EU’s Technical Regulation Information System (TRIS) on 10 July.

According to the notified documents, operators must submit signed gaming and player-account data to the authority through a secure SFTP data vault in a prescribed format. The rules also require operators to retain the data for five years and ensure “its integrity, availability and retrievability.”

The documentation also sets out requirements for using the authority’s OCSS to sign gaming data. It specifies signing generally every five minutes for gaming transactions and at least once daily for player-account data, alongside obligations to manage API keys and handle technical disruptions.

The technical documents are currently available only in Finnish. The press release says unofficial English translations have been prepared, titled “eCertification of Gaming Transactions and Gaming Account Transactions EN” and “Submission of Gaming Transactions and Gaming Account Transactions EN.”

The press release also lists the broader status of technical documentation supporting Finland’s new gambling regulation. It says randomness checks and reliability and information security requirements have been adopted into national legislation; the OCSS signing and data-vault transfer specifications have been notified via TRIS; player-account and game-event data specifications are being prepared following an earlier public consultation; a Ministry of the Interior decree is under public consultation; and drafts are still awaited covering player identification APIs, jurisdiction-wide self-exclusion checks, and certification requirements for games and platforms.

The post Finland notifies EU of gambling tech rules for data vault and OCSS signing appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Merkur Group Strengthens Global Compliance Strategy

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Under the theme “Perspectives,” a total of 43 compliance staff members from the Merkur Group across various countries gathered from 30 June to 1 July to further develop compliance processes in a sustainable manner. Colleagues from Germany, Spain, England, Malta, Australia and the US traveled to the two-day meeting at Benkhausen Castle, the in-house training centre of the Merkur Group. The workshop set the stage with expert presentations on global and digital topics such as cybersecurity, risk management and artificial intelligence. A panel discussion featuring representatives from various international companies within the Merkur Group, as well as a digital quiz, rounded out the programme.

In keeping with its guiding principle, the workshop focused on sharing experiences, fostering global networking and providing impetus for the further development of compliance processes. Because informal exchanges are also key to close cooperation, the evening programme created a relaxed atmosphere and gave participants the opportunity to continue their conversations, make new connections, and further strengthen team spirit across company and national boundaries.

“The ideas and diverse perspectives gained during the workshop will now be incorporated into our day-to-day work and help us to continuously improve collaboration and existing processes,” said Ludwig Beckmann, Chief Compliance Officer of the Merkur Group.

The concluding feedback session also highlighted just how valuable the international exchange is. The term “collaboration” came up particularly often, a clear indication of how highly the participants value working closely together within the international compliance network.

The post Merkur Group Strengthens Global Compliance Strategy appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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GRAI Launches New Campaign Helping Parents to Spot the Signs of Underage Gambling

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The Gambling Regulatory Authority of Ireland (GRAI) is encouraging parents and guardians to be alert to the signs of gambling among young people and to intervene early to prevent gambling harm.

The signs of gambling aren’t always visible, the GRAI in partnership with the Health Service Executive Addiction Services have developed dedicated advice on www.grai.ie to equip families with the knowledge to recognise the signs, advice on how to start the conversation with their children about gambling, and where to seek help if required.

To support the guidance, the GRAI has launched a national public awareness campaign across video on demand, radio, digital audio, and social media platforms, bringing this message directly to families across Ireland.

With the lines between entertainment and gambling increasingly blurred, especially online, what may look like harmless fun can still involve risk, money and chance in ways that affect young developing brains. Research commissioned by the GRAI and conducted by the Economic and Social Research Institute (ESRI) found that children who gamble are twice as likely to develop a gambling problem as adults.

Anne Marie Caulfield, CEO of the GRAI said: “We have launched this campaign to help parents start an important conversation about the risks of underage gambling. Children and young people are among the most at-risk members of Irish society when it comes to gambling exposure and harm. Children’s brains are still developing the judgement and impulse-control systems used to weigh up risk, which makes gambling appealing to them.

“With online gambling available at any time of the day, it is easy for the warning signs to be hidden. The guidance the GRAI developed with the HSE Addiction Services sets out some of the key behavioural signs to look out for in your child.”

The post GRAI Launches New Campaign Helping Parents to Spot the Signs of Underage Gambling appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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