Jersey says yes to online gambling

After some time and debate the government of the Channel island of Jersey has finally signed off on legislation allowing the island to become an online gambling licensing jurisdiction. Already a prominent financial centre and tax haven, Jersey will now enter a business sector that could generate millions of pounds for the local economy, according to a report in the publication This is Jersey.

On Friday members of the States (parliament) accepted the legislation by a 43 to 4 vote, making it possible for an up-and-running licensing jurisdiction to be operational in as little as two weeks.

Internet gambling companies will pay at least £35,000 a year for the licence, rising to over £70,000 a year if revenues exceed £1 million, and £140,000 if revenues pass £6.5 million.

Source: InfoPowa News