Do Online Gambling Licensing Commissions Actually Protect Players?

US Online GamblingDo Online Gambling Licensing Commissions Actually Protect Players?

The seizure of the Full Tilt Poker website domain name alongside its bank account has caused a series of debates and talks. Without a doubt, this experience has given the whole online gambling community some needed lessons that would help everyone in the future. FTP (Full Tilt Poker) is one of the biggest online poker providers worldwide, and it is licensed from the Alderney Gambling Control Commission, known as the AGCC. Unfortunately, this very well known licensing authority that is very high ranked couldn’t prevent the seizure and it also failed in guaranteeing the players the safety of their money.

The AGCC decided to initiate an independent research and review in order to figure out how the Commission should have done in order to prevent what happened. Also, to figure out what how differently should the commission have acted to face such problem. In order to guarantee the truthfulness and transparency of such review, it has been submitted and made available to the public.

British Gambling Commission

This public review has been carried out by the ex chairman of the BGC, British Gambling Commission, Peter Dean. He approached this review by interviewing a lot of the victims of this incident, and by reading into all the documents related to the incident as well. It has been announced by Dean, upfront, that the AGCC doesn’t hold any responsibility towards what has happened. He also added that the AGCC did its best according to its authority as it launched an investigation, and as soon as there was hard evidence, the responsibility of the AGCC ended. Lastly, he added that the AGCC fulfilled all of its duties towards Full Tilt Poker and the players as according to the license agreement.

As for the other part of the review submitted by Dean, it contained guidelines and advises on what can be done in order to prevent such incident from happening again in the future. One of these advices was for the AGCC to built a more direct and personal relationship with the other party and not to depend on a third party for such connection. Another important guideline was that the AGCC should clearly state its protection level to their players, so the player would know the level of the protection they are getting.

The AGCC has responded to this review through a press release. To make things short and not to go into the details of the press release, they thanked Dean for his review, and they accepted and welcomed the results. They also added that they will take the guidelines and recommendations by heart and that they accept them in full. Andre Wilsenach, the executive director of AGCC announced that the commission will do its best to prevent such incident from happening again, and he added that if there any lessons that the commission can learn from such incident, it will defiantly learn it to prevent its reoccurrence in the future. He commented on the players’ funds situation by saying he feels for them, and that he will do his best and will co operate with all the authorities so the players can get their money back.

April 9, 2012 by : posted in Gambling and Legality No Comments