ming has overtaken insurance to become the Isle of Man’s largest economic sector after enjoying 30% year-on-year growth.

A new report on national income shows e-gaming was worth £530 million to the Isle of Man in 2012-13, and this rose to £690 million in 2013-14.

It now accounts for 17% of the island’s economy, meaning it has outstripped the likes of banking and agriculture as well as insurance.

The burgeoning e-gaming sector has led the Isle of Man into a fourth decade of unbroken economic growth, with gross domestic product rising 4.5% to £4.3 billion.

Chief Minister Allan Bell said that while the report is for the 2013-14 financial year, all the indicators showed the economy is continuing to grow.

He said: “This was the biggest increase in annual GDP since 2008, the year of the credit crunch.”