Alderney is an island located in the English Channel belonging to the British Crown and it is also home to the widely respected Gambling Control Commission. The commission was established in 2000 and is responsible for licensing and regulating online gambling providers for example alderney gambling license.
Alderney is a member of the UK Gambling Commission whitelist and is therefore authorized to advertise in the UK. The mere fact that Alderney is on the whitelist shows that it is a legitimate regulator. In addition, Alderney is home to a number of large gambling companies that have acted in good faith for many years.
Alderney gambling license sites are a safe place for customers to play online betting. The only irregularity of the commission is the demise of Full Tilt Poker in 2011. Alderney then overlooked the financial irregularities of this gambling site that caused players to lose money.
Apart from that, Alderney has a good reputation. Obtaining a license from the Alderney Gambling Control is neither easy nor cheap.
Alderney Gambling License Commission
Alderney is a hub for all markets in online gaming, including casino games, sports betting, and live casino broadcasting. Especially in the online casino games such as slot machine, blackjack, poker, and other popular online games.
Companies licensed from Alderney are attracted by the reliable regulations and low taxes. Other benefits include a stable currency, fast fiber connections stretching between the UK and Europe and beyond, and excellent IT support.
Applicants for a license must have a company registered in Alderney. They must also state in the Alderney Gazette that they intend to obtain a Alderney Gambling License. Then the applicant must complete the application form on the Gambling Control Commission website and submit the form along with a £10,000 deposit.
Once the application and deposit have been submitted, the Commission’s Superintendent will meet with the applicant to discuss the business plan. After the meeting, the Gambling Control Board will review the application.
The board will also look at the applicant’s gambling software, financial status and internal controls. If a decision is made to grant a license, the applicant will receive written notice and may commence work.
Gambling License Control
The Gambling Control will continue to oversee the company’s finances going forward. The gambling site must always have a cash balance that is greater than the total balance of all players.
The board will also inspect the gambling site from time to time through financial audits and independent audits confirming that the site offers random and fair betting games. Alderney also monitors each site to ensure it enforces its terms and conditions.
For example, the gambling site must take steps to prevent minors from playing on the website and they must have systems in place to combat money laundering and other kinds of betting fraud.
After the Full Tilt Poker fiasco of 2011, Alderney introduced new legislation requiring gambling sites to keep player money in segregated bank accounts. This money may not be deposited into accounts with money intended for the day-to-day operations of the site.
Like most online gaming regulators, player protection is an integral part of what the Alderney Gambling Control does. They make every effort to ensure that no disputes arise between the licensees and their players.