The gambling sector that operates remotely in Jersey had seen some substantial and continuous growth for the past few years. The gambling industry is a highly volatile environment that may be susceptible to possible illegal and arbitrary activities. In order to ensure that gambling is done in a safe and fair environment, the gambling activities in Jersey have been closely monitored by the Jersey Gambling Commission. The commission handles everything from the registration, regulation, and licensing of any gambling activities in Jersey.
If any entity in need of a gambling license or whether they wish to inquire about information on the process of gambling legalization, they can contact Private Financial Services. To help you better understand the law that rules over the matters of gambling, we’ve created a summary that illustrates the requirements of a gambling service that handles its activities in a remote setting.
Specificity of the registering
The Jersey Gambling Commission has created a list of the requirements an individual needs to prepare in order to acquire a license for their gambling operation to effectively make it legal. The most critical requirement requested by the JGC is the applicant’s information.
An applicant’s information includes everything that may confirm their identity. Other than the applicant’s name, address, and company number, they must also clearly identify the operations, mainly if they won’t solely focus on gambling. The JGC will also need a comprehensive document that will detail the identity of the members of the senior management and other vital officers.
It is also crucial to provide the JGC with corporate details. The compilation of corporate information is also required from the company applying for a license. Corporate details include information such as the list of your company’s shareholders that possess a minimum of 5% and above. If this is not available, perhaps the shareholders of your company own a 20% or over total shareholding, especially if you are a company that is listed publicly.
To ensure the system of check and balance within the gambling industry, details of your company’s auditors are also integral in the application process. Above all, as an applicant, you must be able to present the JGC regulatory license information.
Since safety and security are some of the most crucial components in officially completing your application, a police background check will be made. The applicant’s key members, from the company’s directors, senior managers, officials, and shareholders, need to undergo a thorough police background check.
Once all the documents are submitted, and the application process is underway, the JGC may do some ocular visits to the location of operation of the applicant. There is no doubt about the level of thoroughness of JGC when it comes to attaining the approval of the government. In the visits of the JGC to the company’s premises, they may conduct interviews with the management personnel to countercheck the level of compliance the company demonstrates.
The moment the Jersey Gambling Commission bestows a license to operate a business, they will continue to conduct regulations to the business. Plus, license owners are required to contact the JGC if there are any changes the company has made. It does not matter in what department or part of the business changes were conducted matter. Whether changes were made in the game or the programming, JGC must be immediately notified before it is officially used for gambling operations.
According to the Article 2 of the Jersey Gambling Law of 2012, a gambling enterprise must meet a set of standards. One of the most critical considerations in a gambling operation is to ensure that any type of consensus was met. Agreements made by the gambling parties must be in accordance with the entity providing the gambling service. When it comes to a gambling operation made by another individual, it must still be able to maintain any type of agreement made by the other individual. Alternatively, an individual can only gamble on behalf of another if they participate in the affairs of the other individual’s gambling.
Article 3 defines the different forms of gambling. Some of the many forms of gambling recognized by the law are: lotteries, betting, and gaming; remote forms of betting such as pool and spread betting. The law also recognizes and clearly states the many forms of remote gambling, Remote gambling can range from gaming machines, amusement prizes, utilization of a variety of equipment, cards, dice, and many others conducted through electronic communication which is paid through a credit card.
In Article 7, it was made clear that the instated laws regulate commercial operators, operators’ operations, and consumers. When it comes to the consumer, by definition, they are the ones who gamble in the method that business is conducted. This idea is also true when it comes to the commercial form of gambling. In terms of the commercial gambling operator, they are defined as individuals who provide and are responsible for any type of gambling within their operation. Overall, a commercial gambling operation is an entity that provides gambling services in accordance with the ways and methods gamblings work. Additionally, they are giving gambling services solely to individuals who engage in gambling activities.
By definition, commercial gambling means that a minimum of a single person that engages in gambling activities is a consumer of the services provided by a commercial gambling operator.
Completing the application process of a gambling operation can be rather long and complicated. If you are looking for someone to guide you in the application process, you can get in touch with the Private Financial Services to help you in completing the application process. Remember that every step is crucial and must be completed to ensure that every gambling operation is conducted fairly and securely. A lot is at stake in any form of gambling operation. If procedures are not completed in accordance with the laws provided by the state, the consumers are not the only ones who may run the risk of losing assets but also the operators.