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Compliance Updates

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

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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.”

Compliance Updates

1400 Arrests, $8M Seized in Illegal Gambling at Euro: Interpol

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wagered.com
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An Interpol operation targeting illegal gambling during Euro 2020 led to 1400 arrests and the seizure of $7.9 million (6.7 million euros) in cash, the Lyon-based global crime agency reported.

Thousands of raids in Asia and Europe also resulted in the confiscation of computers and mobile phones connected to almost $465 million in bets.

“While most of us were watching the UEFA European Football Championship as simple fans, hundreds of specialized officers across 28 countries were targeting organized crime groups looking to earn millions from illegal gambling and related money laundering activities,” an Interpol statement read.

Hong Kong police detained more than 800 suspects, “including the alleged kingpin of a triad-controlled bookmaking syndicate,” the statement said.

In what was described as one of Hong Kong’s most successful operations ever they seized $2.7 million in cash and records detailing hundreds of millions in bets.

In Italy, home of the European champions at the pandemic-delayed tournament, Operation SOGA VIII inspected 280 betting shops and delivered 1.3 million euros in sanctions for illegal betting schemes.

In all, Interpol’s eight SOGA operations have led to more than 19,000 arrests, cash seizures of more than $63 million and the closure of over 4000 illegal betting dens.

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Compliance Updates

You can now search Complitech’s technical requirements database for free

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You can now search Complitech's technical requirements database for free
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The team at Maxima Compliance – the industry’s most established technical and regulatory compliance support firm – has made access to its Complitech tool free for everybody.

Complitech is the largest searchable database of technical requirements for the online gaming industry. It now features over 30 standards, including GLI-19 and GLI-33, every European market, Colombia and several US jurisdictions.

Over the past three years, Maxima’s technical compliance analysts have devoted thousands of hours to translating and categorizing requirements, manually tagging and matching them across jurisdictions.

Thanks to this effort, Complitech has become a highly dependable tool which some of the largest players in the industry are using to empower their compliance department and drive their software development.

Access to this tool is now open to everybody by simply visiting www.complitech.com and registering with an email address. The new version of the tool has the same functionalities of the subscription service, allowing you both to search the requirements of a single jurisdiction, or to create a gap analysis between those of multiple jurisdictions.

Once the user has completed their search and is satisfied with the results, they will now be prompted with the option to download the document containing the results of its searches for a fee. This fee will depend on the complexity of the market or the number of jurisdictions involved in the gap.

Antonio Zanghi, CEO of Maxima Compliance, said: “We are mindful that a lot of start-ups or smaller game studios might only need to do the occasional spot search, or might be focusing on entering one market at the time. This pay as you go functionality offers the power of this unique tool at a fraction of the usual cost, for the occasional user.”

Requirements have been clearly categorised as either belonging to the operator or the supplier, allowing companies to quickly identify those that apply to them. You can search requirements that are specific to a player account management system, a gaming platform, a sportsbook including virtual sports betting, every type of casino product offered in any regulated market, change management programmes and information security management systems.

Complitech has been brought to the gambling industry and is maintained by a large team of technical compliance analysts working at Maxima Compliance. The company has become popular for its unique blend of outsourced technical and regulatory compliance support services, allowing its customers to fast-track their entry into regulated markets.

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Compliance Updates

A Closer look at Italy’s AMMS license

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The number of gambling players is still increasing in Italy, and the reason is simple: Italians love to gamble. Italians love casinos games such as poker, slots, jackpots, and bingo.

The game in Italy has been around for centuries. It is worth remembering that it all started with the Roman Empire, when the predecessor of the modern game of backgammon, Ludus Duodecim Scriptorum, became popular among Roman legionnaires

According to Italian criminal regulation law, gambling is illegal, be it organized in a public place or a private club. However, the Italian authority also considers that there’s a difference between games of luck and games where the outcome depends on the player’s skill. As result of this consideration, sports-betting, lotteries, and some other activities fall into the category of legal and regulated gambling activities.

The AAMS (Amministrazione Autonoma dei Monopoli di Stato – Autonomous Administration of State Monopolies) is the regulator body responsible to inspect operators and regulate gambling sector in Italy by issuing licenses for the approved operators.

Since March 2010, foreign gambling operators have been able to launch online real-money games. Before this change, gambling operators were obligated to get an Italian.

AMMS License

The Agenzia Dogane e Monopolio di Stato (AAMS) is responsible for ensuring a proper conduct of the online operators, preventing the violation of gambling rules and avoiding any fraud, corruption and money laundering in the Italian gambling sector.

The Italian gaming authority are responsible for issue the licenses. The licenses cover skill games, poker games, casino games, sports betting, lotteries, bingo and horse pools. The number of licenses that can be issued by AAMS is limited to 120.

AMMS License Costs

The Italian regulator authority AMMS requires to pay €350,000 + 20% VAT for them for covering the technical management, administration, and supervision expenses. Online casinos must also pay a corporate tax of 27.5% and an additional tax of 0.6% that is based on their turnover on top of this. Once the license is granted, the operator can offer online gambling games for up to nine years.

AMMS license Requirements

It is not so easy to be qualified for an online gambling license in Italy, all operators must meet certain requirements. These include financial, technical, social, and other aspects of the business sector.

To be granted a license, the operator company must manage games in Europe with a turnover of no less than €1,500,000 in the last 2 years. The company must function at a high technical level, providing stable, secure, and easy-to-use services and be incorporated as a limited company. Other important requirements are also imposed, the operator must have reliable administration members, its official residence and a Italian-speaking technical support in one of the EU countries.

Some extra important requirements:

  • Casinos may not advertise their services to underage players.
  • Players must have at least a 90% of winning margin or ROI on casino games.
  • Winning must be paid out within a week.
  • Casinos must use a software that’s proven to offer a sage gaming environment with no fraud and risk.
  • Casinos operators must enforce and maintain measures for secure transactions.

While the AAMS license gives Italian customers a sense of security, there are also downsides to the license as well. According to Non-aams.com, an increasing number of Italians are looking for casinos licensed by other regulatory bodies such as Curaçao. This shows that not all Italian players are satisfied with the imposed Italian gaming laws and how the escape option is being.

Non-AAMS Casinos

Non-AAMS casinos are casinos that do not have an AAMS license, but usually have licenses from authorities in other countries. Are non-AAMS casinos safe to play? The answer is yes, they are reliable and safe to play too. There are many other gambling authorities offering iGaming players protection and operating around the world such as Curacao Gaming Control Board, Malta Gaming Authority, UK Gambling Commission and Swedish Gambling Authority.

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