Officials on the Isle of Man have released a text outlining the proposed Gambling Duties Bill, which would reorganize the island’s actual gaming legislation. The new project would revoke and substitute the Betting Act 1970 and the Pool Betting (Isle of Man) Acts 1961 to 70 and modernize and introduce simpler regulations on the administration of gambling duties, compliance of licensed operators and fighting unlicensed and illegal gambling.

The Treasury Department have said that the Bill is not planned to deal with the regulatory side or anti-money laundering matters but would make the exchange of information between the island's gambling bodies and itself and off-Island agencies more efficient in order to combat any illegal gaming activities.

Online gambling on the Island of Man started largely as an extension of telephone betting but has turned into online gaming activities such as online poker, online casinos, online sportsbetting sites and online bingos. The restructured legislation will take this in consideration after initially being delayed a number of years ago in order to investigate the market and its evolution.

“Operators on the island now have their markets throughout the world and a framework has developed to supply the essential software, financial and technological support it needs, the bulk of business is now done online. Gambling is a potentially important source of revenue to the island in terms of license fees and excise duties as well generating additional banking activity, providing employment and requiring servicing by support industries” said a spokesperson for the Treasury.

The island’s Government is consulting all the available documentation with responses due by June 20 and anyone interested in making consultations must contact the Customs and Excise Division.