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WILMINGTON, Del. -- 5Dimes, a leading global online gaming brand, today announced the launch of its online sports betting and casino products in the Isle of Man market, a prime jurisdiction for online gaming. In 2001, the Isle of Man Government was one of the first jurisdictions in the world to introduce legislation specifically designed to benefit gambling and e-gaming firms and fully protect customers. The Isle of Man Gambling Supervision Commission awarded 5Dimes a license in February 2021.
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This license allows 5Dimes to establish a comprehensive international operation, excluding the United States, in the Isle of Man and conduct legal and regulated gaming activities in full compliance across multiple jurisdictions.
The Isle of Man Gambling Supervision Commission has an international reputation for enforcing high standards to ensure operators are in full compliance with all rules and regulations. The Isle of Man is included on the Organization for Economic Co-operation and Development White List, for jurisdictions committed to improving transparency and establishing effective exchange of information in tax matters, and is a member of the World Trade Organization.
"This licensure is an exciting milestone for the 5Dimes brand," said Laura Varela, Member of 5Dimes Sportsbook's Board of Directors. "The Isle of Man is a Tier-1 jurisdiction, known for its advanced approach to gambling and e-gaming legislation and its exceptional reputation in the international gaming community. The Isle of Man sets high standards for its gaming operators and players, and we look forward to upholding the same level of principles and innovation with the launch of 5Dimes."
5Dimes is a leader in online sports gaming with strong brand recognition and more than 20 years of experience. The launch provides players full access to 5Dimes' robust gaming platform with customized applications, a diverse offering of lines, and other gambling options. Known for its reliability and loyal customer base, 5Dimes is focused on becoming one of the leading international e-gaming platforms, catering to all players from the small wager bettor to the larger players across multiple regulated jurisdictions.
5Dimes will establish a management and operations team base in the Isle of Man to support key functions such as compliance, finance and operations.
"This undertaking in the Isle of Man is a first step towards relaunching the 5Dimes brand in all legalized jurisdictions around the world," continued Ms. Varela. "We are excited to welcome back many of our loyal customers to our top-of-the-line gaming experience while keeping our eyes set on future expansion opportunities in additional legal and regulated markets in the near future."
This venture is possible because of a public settlement in the United States in September 2020, which freed the Company to explore expansion options, including, but not limited to, licensing the 5Dimes brand to conduct legal, regulated gaming activities in the United States and internationally.
The licensing process in the Isle of Man was made possible with the support of the Wilton Group, an independent professional services firm with offices in London's Mayfair, the Isle of Man, Dublin, Dubai, and Bristol.
