In the Isle of Man market, 5Dimes has introduced its online sports betting and casino products, enabling the offshore sportsbook operator headquartered in Costa Rica to perform legal and regulated gaming operations in full compliance across multiple jurisdictions.
‘Prime’ online gaming jurisdiction
Achieving an Isle of Man accreditation, a region widely known as a ‘prime’ online gaming jurisdiction, will allow 5Dimes to create a robust international operation, with the move seen as the latest phase in the company’s ambition to regain a foothold in the newly legalized American sports betting industry, having withdrawn from the US market last year.
Laura Varela, member of 5Dimes sportsbook’s board of directors said: “This licensure is an exciting milestone for the 5Dimes brand. 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.”
The Isle of Man Gambling Supervision Commission, known for its international reputation, enforces high standards to ensure operators are in full compliance with all laws and regulations.
The Isle of Man is a member of the World Trade Organization and is included in the Organization for Economic Co-operation and Development White List for jurisdictions dedicated to improving transparency and the efficient exchange of information on tax matters.
As the company entered into a settlement agreement with the US Attorney for the Eastern District of Pennsylvania last October, 5Dimes stopped taking bets from US customers, gaining eligibility to apply on a legal basis to join the market.
Future expansion opportunities
She added, hinting at potential expansions for the company: “This undertaking in the Isle of Man is a first step towards relaunching the 5Dimes brand in all legalised jurisdictions around the world. 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.”