The region where a gambler resides does not matter. Every gambler wants to trade in a safe and regulated environment. The same holds for the gamblers residing on the Isle of Man. Though the crown dependency, this place has its gambling supervision commission that regulates gambling and trading in this region.
This article on GSC will deliver all information one should know. This gambling supervision commission has a history, and we shall discuss it.
Isle of Man gambling supervision commission definition
The GSC is nothing but the region’s gambling control board. It checks all the gambling pursuits in this region.
Common gambling forms include the ones at a casino, amusements, slot machines, and betting. Gambling might not have a legal status everywhere. However, the Isle of Man has proper regulations for gambling activities in the region.
Besides these activities, this supervisory commission also oversees online gambling activities. Gambling is one activity that is prone to many crimes and unfair practices. Thus, the need for a gambling supervision commission is justified for any region.
Here are some historical facts about the Isle of Man GSC.
Isle of Man Gambling supervision commission history
Setting up this commission was to ensure that the gamblers get a free and fair place to gamble. Most of the time, the lack of regulations prevented them from receiving their rewards. Thus, there was a need for a gambling supervision commission on the Isle of Man.
The establishment of the Isle of Man GSC dates back to 1962. The 21st century witnessed a digital revolution and an expanded scope of online gambling. Thus, the tax-free jurisdiction of this region attracted many gamblers.
The Isle of Man was the first region to bring about regulations for e-gaming. It issued regulations and a code of conduct for the gaming companies, thus protecting the gamblers from fraud.
These steps taken by this small region attracted worldwide gamblers. Completing the documentation for these regulations in Online Gambling Resolution Act 2001 (OGRA), the region gained worldwide recognition.
Hence, establishing this supervision commission was one of the best decisions.
Functions of the gambling supervision commission
Here are a few functions that this gambling supervision commission performs:
- It issues licenses and oversees the functioning of the gaming operators.
- Guidance is necessary for newbie gaming establishments. Thus, the supervisory commission offers them much-needed guidance.
- Players can suffer losses if they don’t receive their winning money. This gambling supervision commission acts as a protector of their funds.
- It issues the independent testing companies to test the games before they launch in the market.
- After issuing licenses, it monitors the activities of the operators.
This Gambling Supervision Commission is the official regulating body of the region. It protects the gamblers from any problem that the gamblers might face.
Thus, it protects the gamblers’ interests and promotes healthy gambling practices. The commission maintains a free and fair gambling atmosphere in the region.