The Isle of Man has become home to some of the major Asian facing brands in remote gambling. It reflects more than a decade of the industry working together with the Isle of Man Government to establish this valuable niche, says Bill Mummery of Celton Manx SBObet.
“Today’s success is self-evident when one looks at the economic contribution from the remote gambling sector to the Island’s GDP, which now stands at 17 percent,” he said.
The key drivers for this growth, for the Asian facing operators is attributable to a number of factors, which include the minimal impact of VAT, market access to the European landscape and perhaps most importantly – the quality of both the primary legislation and associated secondary regulations.
It has achieved a balance of strong regulation, possibly the highest level of player protection and a framework within which its operators have been able to grow their businesses, including the B2B model and live dealer casino, both of which are key in these markets, says Mummery.
“I believe that a decade later some jurisdictions still struggle to understand some of these concepts and therefore cannot accommodate and get comfortable with them. In addition, whilst nowadays technical infrastructure is generally taken for granted, the Isle of Man is still a Global Leader both in terms of ‘On Island’ capabilities for the quality of its Power, Data Centres and the capacity, resilience and latency of its external Global connectivity,” he added.
“Undoubtedly the next decade will present challenges for all jurisdictions, the mix of businesses between licensed operators and support services will change, but I have no doubt that the Isle of Man will remain at the forefront of our Industry,” said Mummery.