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