JERSEY TO SET UP AS AN ONLINE GAMBLING JURISDICTION
Gambling Commission the first step for Channel Island government
The Jersey government in the Channel Islands state has apparently been eyeing the success of Alderney as an online gambling regulator with a view to following suit.
Jersey's gaming industry is currently limited mainly to betting offices, but last year the States revealed plans to move towards legalising internet gambling, and this now seems imminent.
The island government is creating a three member Gambling Commission as the first step in a project to regulate applicants for a license on the island.
Chris Evans, managing director of Jersey-based e-commerce firm Foreshore, said a gambling commission was a "welcome development". He said: "A number of companies from around the world have shown interest in establishing an internet gambling presence in Jersey, but have been put off because the necessary strong regulatory framework wasn't in place. This move will show that Jersey is indeed serious about entering the world gaming market."
Alderney, which has its own well developed gambling commission and regulations that have attracted some big players in the online gambling business, has proved to be a money spinner for its government. Companies hold licences to operate in Alderney at a cost of GBP 75 000 each, and the annual revenues generated are said to be of the order of GBP 750 000.
