Alderney Gambling License
Alderney is an island located in the English Channel about 8 miles off the coast of France. It's a self-governing dependency of the British Crown and home to the much respected Gambling Control Commission. The commission was established in 2000 and is responsible for licensing and regulating some of the biggest names in online gambling.
As a member of the UK's Gambling Commission whitelist, Alderney is authorized to advertise in the UK. Just the fact that Alderney is on the whitelist gives it credit as a legitimate regulator. Additionally, Alderney is home to a number of big name gambling operators that have acted in good faith for well over a decade.
Any site with a license from Alderney is likely to be a safe place for customers to play games online. The one stain on the commission's record is the demise of Full Tilt Poker in 2011. Alderney missed the financial irregularities that could have prevented the collapse of Full Tilt and temporary loss of players' funds.
Other than that nasty episode, Alderney has a clean record as a regulator. 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 with licenses.
Applicants for an egambling license must form an Alderney registered company and provide notice of their intention to obtain a license in the Alderney Gazette. Next, the applicant must fill out the application form located at 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 chief inspector will meet with the applicant to discuss the business plan, meet the applicant's directors/executives, discuss any corporate entities associated with the enterprise and meet with any key personnel who may require individual certifications.
After that meeting, the Gambling Control Board will review the application and consider the face-to-face meeting to make a decision. The board will also look into the gambling site's internal controls, gambling software, and financial status. If a license is granted, the applicant will be provided with written notice and may commence operations.
The Gambling Control Board will also monitor the firm's finances going forward. The gambling site must always have a cash balance greater than the total balance of all players and the site's assets must always exceed liabilities by 25%.
The board will also inspect the gambling site from time to time via financial inspections and independent audits that confirm the site offers truly random and fair games. Alderney also monitors each site to ensure it maintains agreeable terms and conditions, takes steps to keep minors from playing, and has systems in place to combat money laundering.
Licensed gambling sites must pay a flat £35,000 fee the first year in operation. In subsequent years, the annual fee is determined by the previous year's "net gaming yield." The annual fee ranges from £35,000 to £140,000 depending on how much money the gambling site is bringing in.
After the Full Tilt Poker fiasco of 2011, 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.
We're not in the habit of blindly endorsing gambling regulatory bodies so hopefully it holds some weight when we say Alderney is as legit as they get. Alderney is definitely NOT one of those jurisdictions you sometimes find that hand out licenses to anyone with a pulse.
The gambling commission makes applicants prove their financial ability and technical know-how to host real money games to players around the world. It should give you a strong sense of comfort if your gambling site has a license from Alderney. You can visit the Alderney website any time to see an up-to-date list of current licensees or them through phone or email. All of their information is below:
E-Mail: [email protected]
Phone: +44 (0)1481 823978
Author: Wesley Burns
Updated: March 2015