Based on the tiny, but very beautiful Mediterranean island of Malta we find one of the most reputable and better known of all gambling authorities. As an EU member state it was actually the first country in the European Union to introduce online gambling regulations. Known formerly as the Maltese Lotteries and Gaming Authority (LGA), the Maltese Gaming Authority (MGA) is responsible for the issuance of licenses in the gambling jurisdiction of Malta.
Casinos licensed under the Malta Gaming Authority
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The Background Of The Malta Lotteries And Gaming Authority Approving Statuses To Canadian Casinos
They cover all manner of online and terrestrial gambling operations including online casinos and betting sites, bingo halls, land based casinos, sea based casinos, national lotteries and even amusement machines/gaming devices.
There are over 500 online gambling sites licensed by the Maltese Gaming Authority and there are numerous benefits that come from obtaining a license from the MGA, most notably companies who operate their business from the island receive generous rates of business taxation. The tax picked up from the Malta government is then used in the development of the island and has led to becoming a leader of the blockchain movement.
A Look At The Main Goals Behind The Malta License Authority Gaming Regulator Program
- Protection of minors and persons of a vulnerable nature.
- Safeguarding players’ rights.
- Promotion of responsible gaming.
- Gaming integrity and supportive devices.
- Fighting criminal activity.
- Integrated Authority.
- One-stop-shop for iGaming Licensing.
- Allow for accessible and authoritative information.
- Service of the MGA comes with a 5% Gaming Tax
Four Key Points To Take Away
To summarise the core principles of the Malta Authority, we have broken down 4 key points of how organizations are accredited and how the process of the MGA works.
1. Operators are eligible to apply for multiple licenses which have a duration of 5 years. The MGA requires you to meet a number of conditions and pass a set of security checks before they will issue you any type of license.
2. They ensure proper protection is offered to players and are extremely strict on fraud and money laundering activities. Operators must provide financial records as well as other proof of status, have a data protection plan in place and also advocate responsible gaming.
3. The MGA reserves the right to revoke any class of license at any time and monitor licensees very closely, requiring them to submit separate written requests for any actions that need their approval.
4. The MGA practices a Code of Ethics to help advance the profession of the industrial service. This leads to higher and greater responsibility, respect for the environment of the industry, fairness in allocation of the licenses, honesty in business behaviours and professional competence.
The Four Licenses Available From The MGA
Initially Malta offered gambling licenses through its Public Lotteries ordinance. In 2001 however they introduced an overhaul of the legislative framework which fell into line with the Lotteries and other Games Act (2001). In 2004 Malta created new legislation called the Remote Gaming Regulations, which allowed for four different types of license to be applied for.
There are four different types of licenses that can be applied for by operators. They are:
- Class 1 License: This covers all casino, skill based, and lottery style games.
- Class 2 License: This covers all types of sports betting.
- Class 3 License: This covers online peer to peer sites.
- Class 4 License: This is specifically geared towards software and tech companies in the gambling sector.
The MGA take the role of the licensees very seriously and as such consumers are able to make complaints directly to them, to ensure fairness and complete protection for all players.
The casinos which comply with the regulations and regulatory standards of the MGA are listed above in our top recommended sites to join.
There are more gambling jurisdictions dotted around the world who regulate online gambling.
Find out about another from the list below:
