With the global online gaming industry predicted to generate revenues exceeding $74billion by 2023*, an ever-evolving technological landscape and with an international demographic more accessible than ever, operators are understandably looking for ways to diversify and grab their share of the market.
Businesses are shifting their gaze to look further afield to the synergies provided by new markets and investigating ways to expand their services to attract a growing number of players. Recent years have seen new markets around the world attract the attention of the industry, opening up not only a whole new pool of consumers, enthusiastic for new ways to play, but a raft of potential in the form of young businesses, gaming professionals and new technology development. But with the ever changing political and regulatory landscape both within the EU and further afield fluctuating on an almost daily basis, expansion into the unknown can be complex and high risk with potential pitfalls that could floor even the most seasoned of businesses.
Global success is ultimately about local understanding. The subtle nuances, tastes, demographics, business processes, governmental requirements and user preferences of a particular market. It’s about consciously avoiding generalisations, being open to global collaborations and the potential for sharing of intelligence, skills and expertise.
The Alderney Gambling Control Commission (AGCC) has been forging global partnerships for many years. It has been increasing its global footprint, licensing businesses throughout the world and at the same time building relationships with regulators and governments. Strategically expanding its reach, gathering intelligence and listening to the needs of the market.
The AGCC has the most MOUs of any other regulator, testament to its commitment to cooperation and transparency. It is a member of the International Association of Gambling Regulators (IAGR), actively contributing to the development of a Multi Jurisdictional Testing Framework, working towards harmonized global standards.
Through its vast knowledge and understanding of the industry, the AGCC has been able to develop a unique regulatory model that allows licensees to be based anywhere in the world – a truly global offering.
The Associate Certificate product is available to both B2C and B2B eGaming businesses wherever they are located in the world, enabling them to benefit from the gold standard of regulation provided by the AGCC. The Associate Certificates are the foreign based counterpart to the B2C and B2B Licence options which require the business to be registered in Alderney - an option that provides licensees with multiple benefits for unrivalled tech infrastructure, access to an international business community and tax advantages.
The experience and expertise of the AGCC team have meant that it is able to take a risk based approach to licensing, applying the level of regulation required only according to the risk presented. It’s being able to take a 360 degree view of a business to understand the entire operation that allows the AGCC to be flexible in its approach and operate the unique licensing framework that’s benefitting so many businesses all over the world. It isn’t something available to all regulators – only those with the requisite experience.
Without a doubt the biggest advantages of Alderney’s global connections are afforded to AGCC licensees. Not only are they seeing doors open to new markets and products, they’re being guided through the process, receiving the critical introductions and help with considerations pre-entry. Being an Alderney licensee provides confidence to potential partners, banking institutions and other regulators, demonstrating that the business is operating to internationally recognised standards. This confidence is driving the global growth and success of Alderney’s licensees, and they’re being supported and encouraged by the regulator at every stage.
It’s under the AGCC framework that operators are finding shelter from increasingly unpredictable political environments, where they are safe to grow their business, protected by a stable and supportive regime.
As the world gets even smaller, opportunity becomes infinite. Those licensed by the global regulator, the AGCC, are already reaping the benefits.
Talk to us about how an Alderney licence can work for your business.
* “Online Gambling Market - Global Outlook and Forecast 2018-2023”
