Esports is a fast-growing industry on the Isle of Man, the island and self-governing British Crown Dependency in the Irish Sea between Great Britain and Northern Ireland. The island has gained somewhat of a reputation as a tax haven, attracting the HQs of businesses like Entain, the FTSE 100-listed owner of betting brands including bwin, Coral, and Ladbrokes. As a proud community, the island continues to foster homegrown companies, and X7 Esports is the latest addition to the list.
Founded in December 2020 on the Isle of Man, their government has decided to help X7 Esports continue their growth through financial support. In return, the government has acquired a logo placement on the team’s jersey.
X7 made its debut during the League of Legends United Kingdom Esports League (UKEL) Summer Open Qualifiers, where they produced a set of results with 10 wins and 0 losses. The organisation says it is now focused on attracting and supporting exceptional talent from across the world, and has plans to expand into more titles and make an impact in both the UK and further afield.
The Isle of Man just recently introduced new regulations that allow players to deposit, gamble and withdraw virtual items and digital currencies in addition to cash. ESP is the first company to take advantage of the new regulations making this licence a world first for betting virtual items, meanwhile joined by Rivalry, Luckbox and Unikrn.
In addition to lead sponsorship from Digital Isle of Man, compliance, finance and consultancy firm Amber Gaming has also partnered with X7. Amber Gaming will support X7 to scale their brand through the provision of consultancy and professional services, including corporate and accountancy services delivered through their group of companies.
The Isle of Man has a lot to offer in terms of supportive structures and security, and they have already proven this with traditional sports and local companies. Esports has the makings to be a significant industry for the Island going forward.