The alderney gambling control commission is one of the leading regulatory bodies for the igaming industry. The commission was established in may 2000 with the aim of ensuring that the island’s gambling regulations keep up with the rapidly changing industry. The agcc is an independent body from the united kingdom gambling commission, though the island of alderney is a british crown dependency. Alderney enjoys the same modern telecommunication networks and hosting facilities as guernsey, which is responsible for the island’s tax and financial framework. With its extensive regulations, reasonable licensing fees, lack of gaming duties, corporate taxes, or vat, authorities have created a pro-business, gambling-friendly environment for igaming operators.
The alderney gambling commission is one of the oldest regulatory bodies in the world, having been formed in 2000 during the online casino boom. Its high standards for quality gaming based on principles of honesty are held in high regard by the industry. The commission’s main goal is to protect players from exploitation and prevent online casinos from conducting criminal activities with their gambling sites or online casino. The flexible regulatory framework of alderney is attractive to new casinos, as is its globally recognized license. Alderney also provides excellent support to the business requirements of its prospective clients, encouraging their growth.
Getting an egambling licence from the alderney gambling control commission can be a lengthy and difficult process, due to the vast number of safeguards the commission puts in place to ensure that companies that want to use its licence are behaving responsibly and offering fair and safe playing experiences to players. The main areas that the alderney gambling control commission looks at when issuing licences are that the company has a clear ownership structure, that the company has sufficient finances available to comfortably offer its services and meet obligatory payments to winning players, that the company offers the utmost integrity, is sufficiently competent to safely provide the services it advices, and in no way has any ties with criminal activity. Should an online gambling company meet these conditions, they may be eligible to receive an egambling licence from the alderney gambling control commission. Importantly, though, if the agcc discovers that one of its licensees has subsequently broken the terms as set out by the licence, it can revoke the company’s licence.
Alderney is a key player in the online gaming market, with a large number of casino games, sports betting, and live casino broadcasts based out of the island. There are approximately 2000 internet gaming sites, owned by around 350 companies, that operate with an agcc licence. Some of the brands that are attracted to alderney by the trustworthy regulation and low taxes include bgo casino and paddy power. Other benefits that these online gaming firms enjoy include a stable currency, fast fibre-optic connections that stretch between the uk and europe and beyond, as well as outstanding it support.
While alderney is quite small, it still manages to be an important player in the world of online gambling. Many companies rely on alderney to help them host their events, and more traffic passes through alderney than any other place in the world when it comes to this sector. While there may be some challenges ahead, alderney is continuing its tradition of careful planning and regulation.
An operator wishing to offer their services to alderney gamblers must firstly be a resident of alderney, eu, or eea and they must obtain the relevant licenses and authorizations from the alderney gaming control commission. In case the company is a foreign entity, it must appoint a local director, whose domicile is in alderney, to deal with the competent authorities in the country and have the power to conclude contracts on its behalf. Secondly, the operator would need to open a bank account with one of the banks in alderney and deposit the players’ money. Licensed remote gaming operators will only be allowed to make payments to players through the payment processors that have been approved by the agcc. There are also requirements regarding the minimum share capital of the company depending on the type of game it offers. Lastly, monthly declaration giving details regarding income from games of change as well as the fees due will have to be submitted to the agcc on a standard form. Lastly, compliance with principles regarding protection of minors as well as content of promotional material used and locations where they can be displayed is necessary.