Feeds

Isle of Man welcomes US online punters

Net casinos hungry for bucks

  • alert
  • submit to reddit

Choosing a cloud hosting partner with confidence

The Isle of Man now allows US punters to gamble in online casinos based on the island, the NY Times reports. The announcement will rattle US authorities opposed to American citizens having a flutter beyond the reach of US legislation.

Indeed, US prosecutors have launched a series of actions against operations doing business with foreign online casinos. Some credit cards, Amex included, do not allow customers to gamble on the web at all. In response, the WTO recently declared that this prohibition of cross-border trade breaks breached the 1994 general agreement on trade and services, and ruled in favour of Caribbean nation Antigua and Barbuda in the matter.

The Isle of Man has operated online casinos since 2001, initially attracting some big-bucks operators including MGM Mirage. However, after an initial boom, a flattened market provoked many, MGM among them, to shut down their Irish Sea operations.

The island's new policy came into force on 1 January, and is clearly an attempt to revitalise the online gambling economy. Tim Craine, the head of electronic business for the Isle of Man, said: "There's a lot of business looking to relocate to a reputable, regulated jurisdiction. We're hoping to capitalize on that business by changing our policy."

Craine confirmed that the Isle of Man is particularly looking to attract representatives of the burgeoning online poker business, currently worth between $2m and $2.5m per day worldwide. ®

Related stories

Punters warm to online poker
Online roulette has Germans in a spin
WTO rules against US gambling laws
UK Gov unwraps Gambling Bill
Amex prevents punters gambling online
Online poker ace scores £4,500 - per week
Irish punters enjoy online betting

Beginner's guide to SSL certificates

Whitepapers

Designing and building an open ITOA architecture
Learn about a new IT data taxonomy defined by the four data sources of IT visibility: wire, machine, agent, and synthetic data sets.
Why CIOs should rethink endpoint data protection in the age of mobility
Assessing trends in data protection, specifically with respect to mobile devices, BYOD, and remote employees.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.