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I.O.M. MULLS GAMBLING ACT STREAMLINING
The online gambling provisions in Isle of Man law are currently under consideration as part of a move to streamline and simplify the Betting Act 1970 and the Pool Betting (Isle of Man) Acts 1961-70, replacing these with the proposed new Gambling Duties Bill, reports IOM Today.
The initiative will involve the administration of gambling duties, compliance of licensed operators and combating unlicensed and unlawful gambling.
While the bill is not intended to deal with regulatory aspects of the social law or with anti-money laundering matters, it is expected to make the exchange of information between the Island's gambling bodies and between Treasury and off-Island agencies more effective to tackle any unlawful activity in or affecting the industry, the IOM Today report claims.
Plans to streamline the legislation were postponed to allow for the expected development of the industry, but Treasury now believes the time is right for putting a framework in place.
The updated legislation will reflect the radical changes in the Island's gambling sector that have seen a relatively small, terrestrial industry explode into an online, multinational one.
A Treasury spokesman said: "Operators in the Island now have markets throughout the world and a framework has developed to supply the essential software, financial and technological support it needs. The bulk of business is now done online."
Internet gambling started largely as an extension of telephone betting and has developed into a wide range of activities including gaming, poker and bingo.
"Gambling is a potentially important source of revenue to the Island in terms of licence fees and excise duties, as well generating additional banking activity, providing employment and requiring servicing by support industries," the spokesman said.
An increasing number of companies are now licensed under the Online Gambling Regulation Act 2001 and are paying online gambling duty. Exceptions include pools promoters, where customers took part by some means other than online, and local 'walk in bookmakers' betting shops.
The consultation document is available from the I.O.M. Customs and Excise Division.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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