Asian Agency Model
The AGCC has created a unique regulatory structure incorporating the agency model for Asian betting markets.
The AGCC recognises that, in a typical Far-Eastern extended social structure, bets on popular sporting events may be placed by just one person on behalf of others and that credit may also be extended by ‘agents’ to linked sub-accounts, where individuals can place their own bets. This activity is fraught with challenges for the gaming companies who wish to operate, and be seen to operate, to the highest regulatory standards.
Working closely with the industry to ensure compliance with internationally acceptable standards - specifically in the area of AML/CFT - and after an in-depth review of Alderney’s FATF compliant regulatory requirements, the AGCC launched the Asian Agency Model. The model has already been adopted by a number of licensees.
This development is another example of our uniquely pragmatic yet innovative approach to regulation that is of genuine benefit to many operators.