- 5Dimes has received a gaming license from the Isle of Man Gambling Supervision Commission which could open up the door for expansion opportunities for the sportsbook.
- In 2020, 5Dimes withdrew from operation in the US sports betting market after reaching a settlement with US prosecutors worth over $45 million.
LAS VEGAS – One of the most popular online sports betting operators could be making a resurgence as 5Dimes has now received a license to launch in the Isle of Man one of the most regulated gambling markets in the world.
In a press release, Laura Varela 5Dimes owner spoke on how the Isle of Man could help 5Dimes reputation.
“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.”
The Isle of Man Gambling Supervision Commission approved and issued a gaming license to 5Dimes which potentially paves the way for the sports gambling company to expand into other international gambling markets.
“This undertaking in the Isle of Man is a first step towards relaunching the 5Dimes brand in all legalized jurisdictions around the world,” said, Varela, 5Dimes Board of Directors. “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.”
It wasn’t long ago 5Dimes was engulfed in a legal battle with the United States as they were forced to pay $46 million and restructure the company to ever re-enter the USA online gambling market. Now, 5Dimes is taking the first steps towards rebranding and could once again become a major force in the online sports betting industry.
Now that 5Dimes is no longer based in Costa Rica, the regulation that the offshore sportsbook operates within has changed but that also means a more comprehensive experience for bettors that use the online sportsbook.
Furthermore, with Varela in control of the company she’s pushing the company towards legitimacy. 5Dimes is expected to expand into the legal sports betting market in the US with New Jersey being one of the main states the company has its sights set on.
The process of 5Dimes expanding into other betting markets will take some time. However, one thing is for certain, the major first hurdles in 5Dimes relaunching campaign have been cleared, and look for the company to continue to expand globally.