The British dependency of Alderney is one of the Channel Islands of the United Kingdom. Alderney is the third-largest island of the Channel Island, and is an independent British Crown Protectorate and is part of Bailiwick of Guernsey. The small island is located on the English Channel, south of England, and in close proximity to the north-west coast of France.
This tiny island is a little over three miles across and has a population of under 2,000 people. Thanks to the treacherous rocks surrounding the island, as well as the drinking culture of the local inhabitants, Alderney is often known by neighbors in the Channel Isles as “two-thousand alcoholics, clinging to a rock.”
The crime rate is nonexistent, the beaches are gorgeous, and historic landmarks, including a Roman fort that dates back to the late 300s AD, makes them a fantastic vacation destination as well. Much of the country’s revenue stems from its online gambling operator regulations and licensing, as well as from tourism and e-commerce in general.
The gambling industry is now the third-largest economic contributor to Guernsey after finance and tourism.
Alderney Online Gambling Regulations
In Alderney, the gambling legislation was put forward first in 1975 in the form of the Gambling (Alderney) Law. The current legislation regulating primarily gambling in Alderneyis the 1999 Law. The Alderney Gaming Control Commission was established in 2000 under the 1999 Law. The Commission is independent and non-political and regulates eGambling on behalf of the States of Alderney. The Commission ensures that its regulatory and supervisory approach meets the very highest of international standards. The mission of AGCC is to maintain the integrity and ensure fairness of the online gambling business in Alderney. The commission seeks all aspects of online gambling services to be delivered in accordance with high industry standards, based on the principles of honesty. These aspects include such issues as funding, gains payoffs, software performed processes, etc. The commission claims to protect players’ interests from any kind of criminal influence. The Alderney Gambling Control Commission was created to regulate, monitor, and protect players with electronic gambling, and to make sure the highest level of international standards are met within the online gambling industry.
The legal operation of online gambling in Alderney was the creation of a number of ordinances dating back to 2001 that allowed for applications to be made to the Alderney Gaming Control Commission for the issuance of remote licenses. Alderney introduced new legislation requiring gambling sites to keep player funds in segregated bank accounts apart from accounts that hold money designated for the daily operations of the site.
Today, the Online Gambling License in Alderney is one of the most popular licenses for online casinos worldwide. Alderney Gaming Control Commission is a member of the Gaming Regulators European Forum (GREF), and the International Association of Gaming Regulators (IAGR). The Alderney Gaming Control Commission cooperates with other law enforcement agencies in regards to the gambling regulations and financial crime prevention.
National Anti-Money Laundering Regulations, Unusual Transactions Act, Counter-Terrorism Financing Regulations and Know Your Customer Policies are applicable to all Alderney Gambling Companies. As part of its duties, the Alderney Gaming Control Commission monitors gaming businesses and services to ensure that they operate according to the standards and regulations of the Government of Alderney.
Compliance audits are conducted on a regular basis to ensure that the terms of the license are met. Licensees must maintain a complete audit trail for each player making a deposit with an operator, including financial transactions and individual bets. Gaming systems, including back-end software logs, must be made available to third-party auditors. Gaming rules, results of game and pay-outs are to be made available to Alderney Gaming Control Commission for five years.
Let’s talk more about the benefits by understanding the reasons why obtaining an Alderney igaming license may be ideal for you.
How to Start An Online Gambling Business in Alderney
In order to receive a license from the Alderney Gaming Control Commission, there strict guidelines to be followed. Obtaining a license from the Alderney Gambling Control Commission is neither easy nor cheap. Only companies that are financially stable and capable of providing fair games are awarded licenses.
To apply for an Online Gambling License in Alderney, you will need to incorporate your company in Alderney. Then the Alderney Gambling Licensing process will begin. To secure your online gambling license in Alderney, our specialists will work closely with Alderney authorities to comply with Due Diligence and KYC policies.
In addition to complete identification of the Ultimate Beneficial Owner (UBO) with a detailed and transparent description of the games to be offered. The last step is to obtain equipment for the transit server, which will transmit all the data of the gambling project to the jurisdiction for the control conduction.
You will need to have hardware-based in Alderney with at least your client database on the local server in order to comply with the Permanent Establishment Requirement. Alderney offers a number of reliable and established providers of hosting services, specifically geared towards the intricate needs of the iGaming industry. An Alderney Gambling license can only be formalized after all services have been registered.
Alderney Gambling Requirements
Residence in Alderney. Operators wishing to offer their services to Alderney gamblers must be residents 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
Opening of a bank account with one of the banks in Alderney where the operator would need to 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
Requirements regarding the minimum share capital of the company depending on the type of game it offers
A 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
Compliance with the principles regarding the protection of minors as well as with the content of the promotional material used and the locations where they can be displayed
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