5Dimes, the popular sports betting and gaming platform was awarded a license from the Isle of Man Gambling Supervision Commission today. Ms. Varela, a member of the board of directors at 5Dimes shared her excitement by saying that this is an exciting milestone for the company.
5Dimes Receives License From the Isle of Man Gambling Supervision Commission
The leading online gaming brand, 5Dimes announced today that it launched its online sports betting and casino services in the Isle of Man regulated market. This month, the company was awarded a license from the Isle of Man Gambling Supervision Commission.
Consequently, 5Dimes can now establish a complex international operation and conduct legal and regulated gaming activities, while fully complying with the necessary jurisdictions. Furthermore, the company also plans to establish a management and operations team based in the Isle of Man. Those teams will play a key role in terms of compliance, operations, and finance.
The launch of the company in the Isle of Man regulated market was possible thanks to a public settlement in the United States dated September 2020. As a result of the settlement, the company was allowed to expand, conduct legal, regulated gambling activities internationally and in the United States.
“This licensure is an exciting milestone for the 5Dimes brand.”Laura Varela, a board of directors member at 5Dimes Sportsbook
In a statement, Laura Varela, a member of the board of directors at 5Dimes shared her excitement by saying that licensing is a significant milestone for the brand. Furthermore, she stressed that the Isle of Man is a Tier-1 jurisdiction, which is known for its modern approach to gambling and online gaming legislation as well as its exceptional reputation within the gaming industry. Ms. Varela said that the Isle of Man sets a high standard for both operators and players and 5Dimes is looking forward to “upholding the same level of principles and innovation” with the launch of its services.
The Isle of Man – a Prime Jurisdiction for Online Gaming
The Isle of Man is known to be a prime jurisdiction for online gaming. In fact, back in 2001, the jurisdiction was among the first in the world that established legislation designed to benefit gambling operators while at the same time protect customers. The Gambling Supervision Commission at the Isle of Man has an immaculate international reputation for enforcing the highest possible standards and ensuring that operators are complying with all necessary rules and regulations.
Furthermore, the Isle of Man is also a part of the Organization for Economic Co-operation and Development White List. Being a part of the list, the jurisdiction completely commits to transparency and effective exchange of information regarding tax matters.
“This undertaking in the Isle of Man is a first step towards relaunching the 5Dimes brand in all legalized jurisdictions around the world,”added Ms. Varela
Undoubtedly, 5Dimes is a recognizable brand and a leader in the online gaming market with more than 20 years of experience. By launching its services in the Isle of Man regulated market, the company provides access to its gaming platform and customized applications. 5Dimes’ licensing process in the Isle of Man was completed with the help of the independent professional services firm, Wilton Group.