How iGaming became Isle of Man’s biggest industry

How iGaming became Isle of Man’s biggest industry

Wednesday, September 9, 2015 Totally Gaming
Head of e-Gaming Mark Robson said he expects the industry to continue to grow

The Isle of Man wants to continue the growth of its iGaming sector after a report showed that it is now the jurisdiction’s biggest industry.

Online gaming made up 16.7 per cent of the British Crown dependency’s industry during 2013-14, according to the report on national income, replacing insurance as the biggest sector. E-Gaming grew by 30 per cent on the previous 12 months, and was more than twice the size of banking, at 7.7 per cent.

However, while the reporting period came before the introduction of the UK’s Point of Consumption (PoC) Tax, Mark Robson, the Isle of Man’s head of e-Gaming, told TotallyGaming.com that the jurisdiction expects the sector to continue growing.

Robson said: “We have been working with industry to ensure that we bring in robust regulation that provides consumer protection as well as maintains the flexibility needed for innovation.

“I believe that growth will continue on the Isle of Man as we show more people that the Island is the ideal location not only for the business, but also for staff to live and work.”

It was suggested that the Isle of Man’s industry could be hit hard by the PoC Tax, and a similar duty introduced recently in Ireland, which would see companies pay taxes based on the location of players rather than their headquarters.

The Isle of Man took action to help its more than 50 licensees, including the introduction of Double Duty Relief, which allows companies to claim PoC relief up to a monetary maximum equivalent to the amount of gambling duty that would have been paid to the Isle of Man Treasury on the same activity.

Such actions led Peter Greenhill, outgoing chief executive for iGaming development with the Department of Economic Development, to tell TotallyGaming.com earlier this year that the jurisdiction would cope with changes.

He said: “Now that the new UK legislation has come into force and the accompanying uncertainty has died down, we have already seen an increase in requests for information from potential new licensees and software houses looking for the right home to base and grow their gaming businesses.

“We have always attracted both operators and suppliers to the iGaming industry to establish their base on the island and build their business from here.”

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