The ILS World eGaming and digital team has seen an increase in the demand for the Isle of Man's Software Supplier Licence. With the eGaming sector rapidly increasing, we anticipate this demand will only increase further in 2023.
The Isle of Man Gambling Supervision Commission launched the B2B Software Supplier Licence back in 2019 with the aim to streamline the application process for business gambling.
Tony Ure, former Head of eGaming IOM stated in an article for iGamingBusiness.com,
“The new licence has been created to help streamline the processes for businesses by reducing the layers of compliance required as well as provide potential cost savings”.
Who can apply for this licence?
Whilst the licence is voluntary, 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.
This licence is suitable for all B2B suppliers:
• Gambling software suppliers
• Platform providers
• Software re-sellers/distributors
• Live dealer studios
• Blockchain tech and token/coin suppliers
• Software providers for skins gambling
What are the advantages to the Isle of Man Software Suppler Licence?
This licence is not mandatory, however, if your business is awarded this licence, there will be many advantages for your business:
- It acknowledges that your company adheres to a high standard of transparency and gaming fairness.
- You will be able to list your products and services on a register of approved software, games, products, and live dealer studios on the Isle of Man GSC (Gambling Supervision Commission) website.
- 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.
- You only need to supply the testing certificate that is provided by the software licence to the GSC once. Products will only need to be tested the one time, there is no need for operators to source testing certificates for each product.
- Isle of Man licensed B2C operators will be allowed to deploy any game on the register without seeking the GSC's permission.
- There are no market restrictions.
What are the different types of Software Supplier Licence?
There are two different types of software supplier licences to choose from:
Software Supplier Licence
This is available to any businesses that supplies gambling software, services, or a non-Isle of Man based software platform. This will best suit a company that is not concerned with a blockchain technology. In total this licence will cost £35,000 per annum plus a £5,000 application fee.
Token/Blockchain Based Software Supply
This is for businesses who use blockchain technology, software, and digital currencies. In total this licence will cost £50,000 per annum plus a £5,000 application fee.
Are there any further conditions for this licence?
There are four further conditions that you must take into consideration when applying for this licence:
- All applicants will be required to show a full understanding of their technology.
- ICO funded businesses will be eligible.
- All tokens much be readily available and not still in development.
- A news blackout will be enforced through the application process. This means your business will not be able to promote they are applying for an Isle of Man license until the license has been granted.
- It can take up to 15 weeks to obtain this licence.
ICE London 2023
Our Group Business Development Director, Richard MacNee and Senior Administrator of our digital team, Kieran Goldsmith will be attending the ICE event in London next week.
This event celebrates and helps businesses and individuals to gain access to the latest digital innovations, technology solutions, regulatory updates, and expert insights.
Richard will be around to discuss ILS World’s digital services from the 7th-9th. If you would like to book any time with Richard, you can do so here.
Why Choose ILS World
As an independent global provider of fiduciary services to professional advisors, international corporate groups, and private clients we pride ourselves on our can-do attitude, taking new legislation and previously unseen business models in our stride, which has allowed us to become a leading fiduciary service provider within the digital sector.
ILS World first entered the eGaming sector in 1998, since then our digital team has acquired strong working relationships with the Gambling Supervision Commission (GSC), the Digital team within the Department of Enterprise, and providers of ancillary services. With a GSC approved team of directors we have developed specialist knowledge and skills to keep pace with this ever-changing sector.