Isle of Man Updates Gambling Laws in Preparation for 2026 Review
Overview of the Legislative Reform Initiative
Earlier this month, the Isle of Man Gambling Supervision Commission (GSC) launched a public consultation on a comprehensive set of draft legislative reforms designed to strengthen gambling regulations across the Island.
Preparation for MONEYVAL 2026 Evaluation
The proposed changes aim to align the Isle of Man’s gambling framework with the latest international standards in anticipation of the upcoming MONEYVAL mutual evaluation scheduled for 2026. This thorough assessment will be conducted by a team of experts from multiple MONEYVAL member states alongside representatives from the MONEYVAL Secretariat.
The consultation, which began on July 2 and will close on August 13, also seeks to empower the GSC to more effectively oversee both online and physical gambling operators on the Island.
Key Legislation Under Review
The consultation targets amendments across seven critical laws including the Gambling Act 2018 (addressing anti-money laundering and counter-terrorism financing), the Gambling Supervision Act 2010, and the Gambling (Amendment) Act 2006. Other acts under consideration include the Online Gambling Regulation Act 2001, Casino Act 1986, Gaming, Betting and Lotteries Act 1988, and the Gaming (Amendment) Act 1984.
The reforms aim to introduce a new unified set of inspection and investigative powers modeled after the Financial Services Act 2008. This will replace outdated measures with a consistent regulatory framework allowing the GSC to conduct routine on-site inspections, utilize search warrants, seize documents, and more.
The commission’s extended powers would apply not only to current and former license holders but also key figures such as controllers, senior managers, and beneficial owners, with possible scrutiny over unlicensed gambling activities in certain cases.
The GSC believes these changes will solidify the Isle of Man’s status as a reputable and internationally recognized jurisdiction for regulated gambling.
Implications for Operators and Service Providers
The amendments propose clearer, standardized definitions for important roles such as “beneficial owner,” “controller,” and “senior manager.” Additionally, there may be ongoing “fit and proper” assessments throughout the duration of a license, expanding scrutiny beyond just the initial application.
Heightened accountability will be expected of key compliance personnel, including money laundering reporting officers and anti-money laundering officers. Rules concerning license surrender will be updated to require operators to submit detailed wind-down plans to ensure orderly closures.
New offenses will address issues such as obstruction of investigations, providing false information, and general non-compliance during regulatory inquiries.
Furthermore, the GSC’s regulatory priorities will shift toward emphasizing the protection of the Isle of Man’s reputation, removing prior mandates related to economic development that could cause conflicts of interest.
Consultation Process and Next Steps
Industry stakeholders are invited to review the proposed changes comprehensively and submit feedback, especially around topics like ownership thresholds and the expanded enforcement powers of the commission.
Following the consultation, the updated legislation will be presented to the High Court of Tynwald for approval, marking a significant milestone in modernizing the Island’s gambling regulation.
The GSC is committed to inclusive consultation, ensuring all participants have equal access to documents and support for any reasonable accommodations needed to facilitate their involvement.
Additional Leadership Update
In May, the GSC announced the appointment of Gregory Petts as the new chairman of the regulatory body, appointed by the Isle of Man Treasury, signaling leadership commitment to balanced and forward-looking governance.