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.

Licensing Process

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.

Final Word

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 contact them through
phone or email. All of their information is below: