Malta is a small island in the Mediterranean sea with all the indications to be the capital of online betting. For the last decade Malta has become one of the top online gambling centers in the world. With its Malta Gaming Authority (MGA) the country became the first international jurisdiction to globally regulate online gambling. Because of its picturesque location, for many travelers, Malta is known as a magnificent tourist destination. But this small island is also a world famous place for betting. Apart from tourism, a significant part of the revenues in the state budget is provided by the gambling industry. This contributes to increasing the level of employment in the country, with thousands of full-time jobs directly engaged in the industry and other that are more associated in the business.
Malta Gaming Authority - a strict regulator
Through a consistent policy of legal regulation, audit and control of activities, betting has become a secure way of entertainment and profitable business for millions. To regulate the online casino industry Malta's jurisdiction has an Act called the Remote Gaming Regulations. Malta is also one of the signature licensing jurisdictions in the EU. When it comes to the online casinos it chooses to license, Malta is an extremely strict regulator. Every casino candidate to obtain Malta GA licenses is subjected to serious tests until the requirements are met and the standards are covered.
The Malta Gaming Authority (MGA) was formed in 2001, as a part of Malta’s ‘Lotteries and Other Games’ Act. Malta Gaming Authority is internationally recognized as one of the top names in the regulatory business. Its purposes are to ensure a completely safe and secure gambling network as workplace and entertainment environment. The MGA mainly aims to:
- Ensure a fair and transparent player experience;
- Protect vulnerable players;
- Prevent crime associated with gambling, such as money laundering (but not only).
Currently, the MGA jurisdiction includes more than 180 countries all around the world. They are all attracted by the premium regulatory practices the authority body has already built. On the other hand, many casinos start to be licensed by MGA because the taxes and fees are fairly low compared to many other licensing jurisdictions. So as a form of cost saving Malta is an attractive destination for most operators.
The MGA lists currently licensed casino operators as well as those whose license is under suspension. This is a good way for you as a consumer to be sure that the casino you choose to play is in the right category as certainly licensed.
Advantages for MGA Operators
Fulfilling all the necessary requirements and owing MGA licenses brings many benefits to operators.
- A MGA license provides plenty of business freedom to the operator. Being allowed to offer different forms and activities of online gambling to clients means better business advantages.
- The MGA is a tight platform giving operators the sense of security and protection from public abuse. They often play the role of mediator and defender for operators in different situations of dispute and problems of different nature.
- The fact of lower tax tariffs compared to many other licensing jurisdictions can be cited as an other important perk for operators. These expenses will often be bringing revenues in a much bigger size on a monthly basis.
Advantages for MGA Casinos Players
The list with benefits for playing at an MGA licensed casinos include:
*Fair gaming. When playing at a casino carrying the MGA license players can be sure to enjoy fair gaming knowing they should not be defrauded. In disputes beyond the competence of casino management, the Malta Gaming Authority shall act as a strict mediator.
*Gambling protection. In order to prevent vulnerable and under-aged gambling, MGA licensed casinos have the obligation to place suitable forms to identify and aid problem gambling on their sites. Regarding the minimum age requirement to allow a player to play, the casino must ensure that all customers are at least eighteen years of age. Similar practices regarding limitations and/or the self-exclusion of players who wish to engage in such must also be available on any casinos holders of MGA licenses.
*Security of player funds. Casinos are required to prepare monthly reporting of the balances of player accounts and to be compared to the balances of bank accounts that are used to store player funds and to be submitted to the MGA.
*Games selection. Thanks to the fact that MGA licensed casinos are not restricted to game platforms nor games titles, players can enjoy a rich selection of amazing games provided by the giants in the industry. The list can include NetEnt, Microgaming, Play'n Go and others holding licenses there and customers can play them on their mobile and desktop devices.
Malta can be surely called the capital of all things connected with online betting. The government can see the positive potential in this industry and manages to regulate it well. The main line in state policy is to eliminate the possible risks and ensure that it provides an optimum entertainment environment. The results are amazing – the betting business remains a great revenue source for the budget of the country.
The Malta Gambling Authority is an internationally recognized regulator that ensures that the casino operator with the Malta license follows strictly the standards. Players can play and gamble with the sureness they are completely protected. The MGA licensed casinos offer their consumers the best time possible in a secure environment.
This control body not only follows well-trodden paths but also strives to introduce innovations in the igaming industry. They have already started to offer cryptocurrency casinos fully regulated by their rules and orders. This opens up new perspectives for global gambling.