The Gambling Supervision Commission at the Isle of man amends specific gaming regulations that allow skin betting. This change is in an in a package of amendments to last year’s regulations, which covered issues like testing certificates, sub-licenses, and network licenses.
You can find the new regulations here.
Moreover, the guidance note here.
The regulatory approval might fix skin betting’s decreasing trajectory
There is no need to mention that skin betting is in a state which is near collapsing. This is because of last year’s massive mistake by the Valve Corporation.
Valve was quite determined to distance the organisation from third-party websites that offer skin gambling through Valve’s Steam. The primary game that gambling took place was CS: GO.
The IOM Gambling Supervision Commission wants to grow
The organisation’s latest amendments reflect a mutual interest for both the regulator and the gambling operators.
The IOM is geographically near the UK. However, it is not a member of the European Union and is referred to as an independent territory.
The GSC is looking to expand geographically, specifically in Asia. However, it is also looking at brand new activities which it can offer as an international regulator.
Gambling no longer thought of as a politically charged issue in Europe. However, this has not changed in the US. The regulators in Europe are already figuring out how new gambling types like daily fantasy sports can be included. Moreover, esports betting might be brought up in their regulatory frameworks.