The Isle of Man government announced on 21st May that it would
change the way in which it calculated the basis for taxing internet
gambling operations. It will now only tax the total amount of all
bets or stakes made and the price of the chances sold, less the
value of all the winnings and prizes due. A similar method of
calculation was recently announced by the UK Chancellor during his
Budget speech.
According to Silicon.com, the Isle of Man has received eleven
new applications for on-line casino licences, including one from US
gambling giant MGM Mirage. The news web site also recently reported
that Irish bookmaker Paddy Power will be moving its on-line betting
services to the UK following the abolition of betting duties in the
UK.
