Over the years, the commission has proven to be outstanding with its policies, and its casinos are known for their excellent gambling services. Its online gambling license is popularly known as the OGRA license
If you’re looking for top casinos licensed in the Isle of Man (IOM) or interested in the license and its advantages, you’re at the right place. In this guide, we will reveal everything you need to know about the reputable IOM gambling license. You will also learn how the IOM Gambling Supervision Commission regulates casinos, how it protects players and the kind of licenses it issues.
Join us now as we take you through the legal gambling landscape of the Isle of Man.
Overview of the Isle of Man Gambling Supervision Commission
Having been around for over 50 decades, the Isle of Man Gambling Supervisory Commission has been at the forefront of gambling regulation. It was formerly known as the Gambling Control Commission and was created to protect gamblers on the Island. The purpose was to prevent crime in gambling and ensure that players get their winnings promptly.
It became one of the first iGaming regulators after the Online Gambling Regulation Act (OGRA) 2001 was enacted. The jurisdiction quickly grew in popularity among online casino operators due to its tax-friendly market. Today, it regulates all land-based gambling operators, as well as online casinos, sportsbooks, and software providers.
Here are the core principles of the IOM Gambling Commission:
- Keeping crime away from the gambling market
- To protect vulnerable and underage persons
- To ensure that IOM gambling license holders offer fair services and players get their true winnings.
The Isle of Man has made a name as one of the most innovative regulators in the gambling industry. It was one of the first authorities to allow digital currencies and other assets to be used for gambling. It also opened a blockchain office and sandbox to support the cryptocurrency sector's growth in 2019.
Types of Licenses Issued by the IOM Gambling Supervision Commission
The licenses issued in IOM are broken into the following categories:
- OGRA Full License: This license covers lots of services, including running a gambling site, a white-label solution, and partnerships with sub-licensees. It costs £36,750 per year.
- OGRA Sub License: Holders of the sub-licenses have to partner with those holding a full license. This type is suitable for new operators with no software. Their technology or games are gotten from the full licensee. It costs £5,250 for this license per year.
- OGRA Network Services License: The network services license is basically the full license with the opportunity to accept players registered in other jurisdictions. It costs £52,500 for this license.
- OGRA Software: As the name suggests, this license is for casino software providers. It costs just £36,750 per annum.
- OGRA Token-Based Software License: This is a type of license for software providers who intend to use blockchain tokens for transactions. It costs £52,500.
Reliability and Popularity of the IOM Gambling License
The IOM Gambling Supervision Commission has established itself as one of the most experienced and reputable regulators in the industry. Its strict regulatory standards, player protection measures, and commitment to fairness in gambling make it a reliable jurisdiction. Players at casinos with the Isle of Man gambling license can be confident of their safety and security.
While the commission is not one of the top 3 most popular regulators, it is also well-known in the industry. Several global online casinos and software operators hold the OGRA license, making it a top choice in the industry.
Benefits of Playing at Gambling Sites Licensed in IOM
If you’re wondering whether or not to play at casinos with the OGRA license, here are some advantages to consider:
- Great Online Casinos with the License: As previously noted, many global gambling sites are IOM gambling license holders. That makes it possible for you to enjoy excellent iGaming services online.
- Numerous Games: There are over 15 software providers with the Isle of Man gambling licenses, including NoLimit City and Yggdrasil. Casinos regulated in the jurisdiction can easily partner with them and offer you a wide range of games. What’s more, the licensed casinos are also allowed to work with many other software developers in other jurisdictions.
- Global Accessibility: Gambling sites regulated in the Isle of Man are able to offer their services to numerous countries, especially those with unregulated markets. As a British Crown Dependency, the casinos are also able to target UK players.
- Solid Player Protection Policies: Casinos licensed in the IOM are committed to protecting their players’ data and funds. The commission also mandates them to offer solid responsible gambling support techniques. In addition, there is a list of the Isle of Man gambling license holders where you can easily verify that a casino is truly regulated in the jurisdiction.
- Easy Dispute Resolution: If you have unresolved issues with an Isle of Man casino, you can easily reach the regulator for support. As long as you provide the necessary information, the regulator responds to players' queries quickly.
The Process of Obtaining an OGRA License
Obtaining an IOM gambling license requires lots of documentation and some strict measures. You must make sure you meet all the requirements and then pay a £5,250 application fee, regardless of the kind of license you want to get.
To qualify for the license, your company must be incorporated in the jurisdiction and must have two resident directors. Online gambling operators must also be ready to have their servers located on the Isle of Man. Also, you must show proof that all RNG games and other software are certified by an approved auditor.
If you’re sure you meet the requirements, you can head to the IOM website to make the application. These are the documents you will need to provide according to the laws:
- A comprehensive business plan
- Description of the games you want to offer
- RNG certificate from an approved testing lab
- Description of software and report of Technical System testing
- Description of your target market
- Evidence that your company and directors do not have criminal records
- Recent utility bills
- Copies of passports or ID
- Bank references
- Proof to show that your servers are located in the jurisdiction
Regulatory Oversight and Player Protection at the IOM Gambling Supervision Commission
As mentioned, the Isle of Man Gambling Supervision Commission main’s purpose is to protect players and ensure that gambling is conducted fairly and honestly. Here we break down the IOM players’ protection and regulation process.
- Funds Protection: The commission ensures that all online gambling sites holding the Isle of Man license have the necessary system to protect players’ money. It defines players’ money as their deposits, winnings, and bonuses that they have earned. It provides five protection mechanisms to operators, which include the bank guarantee. If the operator fails to pay players rightfully for any reason, the bank can do so.
- Independent Testing: All casinos with the Isle of Man gambling license must have their games tested for fairness and randomness by external auditors approved by the commission. The regulator has over 10 approved game testers, including BMM, iTech Labs, Quinel, GLI, and eCOGRA.
- Ongoing Reviews: The IOM Gambling Supervisory Commission regularly reviews the activities of its licensees to ensure they stick to the standards. Defaulters are sanctioned and face the risk of losing their licenses.
- Dispute Resolution: The regulator attends quickly to complaints made against operators. It has an easy dispute-resolution process, which we have explained in the next section of the guide.
- Watch List: Several times, many unlicensed casinos have been found to claim they hold the Isle of Man online gambling license. There is a watchlist on the official IOM website where some of such casinos have been listed. It also has a list of its approved operators, so you can easily confirm.
How to Make Complaints to the IOM Gambling Supervision Commission
If you ever need to contact the commission with a complaint, it’s very easy to get it done online. Simply visit the official IOM government website and fill in the dispute complaint form in English.
However, before you reach the IOM regulator, it advises that you exhaust all support options offered by the operator. You should only reach the regulator after you do not reach an agreement with the operator.
You can also reach the Isle of Man Gambling Supervision Commission through contact information below
- Tel No: +44 1624 694331
- Fax: +44 1624 694331
- Email: gaming@gov.im
- Address: Isle of Man Gambling Supervision Commission, Ground Floor, St George’s Court, Myrtle Street, Douglas, Isle of Man.
Drawbacks of Playing at Gambling Sites Licensed in the Isle of Man
From the players’ angle, there isn’t anything to be worried about. Although the approved casinos are not as much as that of the MGA or Curacao, there are still hundreds of IOM casinos to choose from.
Also, operators may be discouraged from getting the license due to its yearly fees. Nevertheless, the price is still low compared to that of the Gibraltar Gambling Commission. The Isle of Man remains a friendly ecosystem for casino businesses to flourish.
Conclusion
Online casinos licensed in the Isle of Man offer players safe and truly rewarding gambling sessions. Due to its reputation, IOM gambling license holders can partner with many software providers and offer thousands of games to players. They also offer you decent bonuses and promotions to boost your bankroll for more gaming time.
Furthermore, many of these sites are available in various countries and they are friendly with digital assets. When you play, you won’t have to bother about safety as they put in place high-level security techniques to safeguard their players' data and funds. In addition, you’ll also find excellent support services and responsible gambling tools at IOM casinos.
More interesting is that you can enjoy all the fun at IOM-licensed casinos on the go with your mobile devices, whether Android or IOS. And you don’t have to search for long to find great casinos licensed in the Isle of Man. Our experts have identified the best among the hundreds of options available and listed them on our platform.
Feel free to pick a suitable IOM casino and start having fun right away. Remember to play responsibly always and maximize bonuses. Good luck!
