Full Tilt Poker holds its license with the Isle of Man Gambling Supervision Commission. The Gambling Supervision Commission is an independent corporate body initially established in 1962 and consists of a Chairman and four members. In addition to the licensing and regulation of terrestrial gambling operations as the Casino, amusement or slot machines, betting and lotteries the Commission is also charged with the regulation of all online gambling activities. The Isle of Man is a British Crown dependency located between England and Ireland in the Irish Sea. The Island has the world’s oldest continuous parliament called Tynwald which legislates for the Island.
The regulatory core principles the Commission upholds are;
- To keep the gambling industry crime free,
- To protect the young and vulnerable, and
- To ensure that the facilities offered by license holders are fair and that players receive their true winnings.
Online Gambling licenses are only awarded to companies that have passed a rigorous vetting process. The Online Gambling act 2001 provides that the Gambling Supervision Commission shall not grant a license to any company unless it is satisfied:
(a) that the company is under the control of a person or persons of integrity;
(b) as to the beneficial ownership of the share capital of the company;
(c) that the activities of the company are under the management of a person or persons of integrity and competence; and
(d) that the company has adequate financial means available to conduct online gambling of the descriptions in question.
Your contract with Full Tilt Poker is governed by the laws of the Isle of Man. Isle of Man law (*) provides that a contract entered into in the course of online gambling is not void or unenforceable solely by reason of it being a contract by way of gaming or wagering. As a result of this online gambling debts are enforceable by law in the Isle of Man.
* Section 23 of the Online Gambling Regulation Act 2001
For more information, visit the Gambling Supervision Commission’s web site www.gov.im/gambling