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Isle Of Man Reaps Benefits Of Online Gambling

The Isle of Man's Minister for Economic Development has issued comment regarding the island's online gambling betting industry, saying that he is pleased with online gambling and the positive effects it has had on the isle.

Minister John Shimmin said that because of the success of online betting operations on the Isle, he will put forth a budget that will help drive additional growth in the industry. Internet betting is classified as e-Business on the Isle of Man, and the industry is a key player as the industry accounts for 14% of the isle's national income and 1,500 jobs.

"The Isle of Man continues to perform well in what remains a challenging global economy," Shimmin said. "Last year the government forecast that our economy would grow by up to 4% in 2013/14 and the evidence to date indicates that this will be achieved.

‘We now expect we will maintain this level of growth in 2014/15, and that this trend will continue in the run up to 2020, with the e-Business sector being a key driver."

Part of Shimmer's plan includes incentives to help local businesses draw in more business, as well as attract foreign company's the Isle of Man's shores.