Last week, the Isle of Man released the necessary applications and regulations that will allow interested firms to get in line for the first three Manx online gambling licenses (for virtual casinos) to be awarded.
With these documents completed, all that's left on the government's part is an official rubberstamp approval, scheduled for June 19, by Tynwald. Assuming that Tynwald gives the green light, the Manx Department of Home Affairs says that the first three licenses will be issued in August, following a June 29 deadline for the applicants.
According to the official Department of Home Affairs announcement, any applying company failing to receive a license then will be considered "on an individual basis as to whether a case should be made for the granting of additional licenses to the Council of Ministers,"
The application process is expected to take four to six weeks. The application fee is £1,000, while the license fee is £80,000 annually. Applicants must also deposit a guaranty fee of £2 million with the government.
The necessary forms, all available in PDF format, are available at IGN:
Application Forms
Regulations for the Online Gambling Act 2001
*Note: These regulations will be laid before Tynwald on June 19, at which time final approval will be given.