The ILS World eGaming and digital team has seen an increase in the demand for the Isle of Man's Software Supplier Licence which we anticipate will continue in 2022 as the jurisdiction pulls ahead from its main competitors, Malta and Curacao.
The advantages of the Isle of Man Software Supplier Licence are:
• Licence holders can list their products and services on a register of approved software, platforms, games, products and live dealer studios on the website of the regulator, the Isle of Man Gambling Supervision Commission (GSC)
• This register acts as a regulatory seal of approval enabling the streamlining of internal processes and accelerating game deployment by an Isle of Man licensed B2C operator
• Isle of Man licensed B2C operators will be allowed to deploy any game on the register without seeking the GSC's permission
• Products only need to be tested once, the certificate will be provided by the software provider to the GSC and the product will be listed on the register. There is no need for operators to source testing certificates for each product.
It's suitable for B2B suppliers including:
• Gambling software suppliers
• Platform providers
• Software re-sellers/distributors
• Live dealer studios
• Blockchain tech and token/coin suppliers
• Software providers for skins gambling.
The licence is voluntary but in recent years many software businesses have opted for this route as it demonstrates their commitment to the Isle of Man's high standards and offers reassurance to B2B partners such as operators, banks, payment processors, investors and shareholders.
There are two types of software supplier licence:
1. Standard fiat platforms/software.
It is available to any business which supplies gambling software, services or a non-Isle of Man based software platform.
It costs £35,000 per annum plus a £5,000 application fee.
2. Token/blockchain enabled platforms/software.
This is for those who use blockchain technology and/or software that uses tokens/coins/digital currencies.
It costs £50,000 per annum plus a £5,000 application fee.
There are further conditions for this licence which include:
• Applicants must prove their understanding of their technology
• Tokens must be available and not in development
• ICO funded businesses will be eligible
• A news blackout is enforced throughout the application process in order to prevent attempts to inflate the value of tokens.