According to a report in the New York Times, the Isle of Man has reversed its four-year-old policy prohibiting e-gaming firms based in the jurisdiction from accepting online casino bets made by US residents.
The report in the newspaper’s Thursday edition revealed that the island’s Council of Ministers voted to reverse the policy during its December meeting, meaning that island-based online casinos could take certain forms of bet from US customers from January 1.
The US authorities have sought to maintain domestic restrictions on gambling by banning US residents from placing bets with e-gaming firms whose servers are located in foreign jurisdictions, as illustrated by its legal fight with Antigua & Barbuda which has contested that ban through the WTO.
However, quoting Tim Craine, the Isle of Man’s head of electronic business, the NY Times stated that officials approved the measure in order to attract more e-gaming companies to establish in the jurisdiction.
"There's a lot of business looking to relocate to a reputable, regulated jurisdiction," Craine stated.
"We're hoping to capitalize on that business" through the change in policy, he added.
However, Mr Craine pointed out in the report that the new policy applies only to online casino and poker games, and the ban on accepting sports bets from US residents remains in place.
A comprehensive report in our Intelligence Report series examining offshore e-commerce and online gaming is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report6.asp
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