MGA is one of the first authorities to ever license and regulate the industry of online gambling. Since it was established in 2001, many big online casinos have obtained licenses from Malta Gaming Authority.
Everyone reading this article has probably had some gambling experience or, at least, wants to try it. And we all know that the number one priority to look at is how reliable and safe an online casino is. Proof of this reliability are licenses issued by various authorities located in different countries.
Introduction To Malta Gaming Authority
Malta is quite a small European island with a small population, but this does not prevent it from being one of the most significant figures in the world of online gambling. Hundreds of online casinos around the world choose MGA, and millions of gamblers are willing to choose any MGA casino. Malta is a country with clear regulation and a simplified process of obtaining a license, compared to some other European countries. According to the statistics, MGA has brought nearly one hundred million euros to its budget from gambling services. And the share of it rises every year including through the competent management structure of MGA.
Best MGA Licensed Casinos 2022
Searching for reputable and trusted online casinos on the Internet, you will find that some of them run with a license from MGA. Gamblers tend to like those casinos and gladly come back for the quality experience. Not only online casinos benefit from having a license from MGA, but also players, since they can be sure their personal information and money are safe. Besides, Malta casinos have been ranked at the top by reputable online casino ratings.
Types Of Malta Gaming Authority Casino Licenses
When deciding to obtain a license from MGA, you need to find out what types of licenses you can obtain. This process is crucial, as each type of gambling game is allowed by different licenses. The country’s authority has to promote a responsible, clear, and safe environment in the industry. In order to be able to regulate it and settle any disputes, MGA issues licenses to online casinos. Any Malta online casino must have a certain license for certain services. Malta Gaming Authority currently offers four types of licenses.
The first type of license is issued under different jurisdictions for remote games, where online casinos manage their risks on certain types of games like slots, lottery, blackjack, roulette, etc. Basically, the outcome of those games is determined completely randomly by the RNG. A player cannot affect the end-result of playing those games.
The second available license will be suitable for those who wish to provide sports betting or other competition events services. The outcome of those is not randomly generated, rather depends on the skills or luck of one(s) you have betted on. In this case, the odds are the tool for managing the risks of operators.
The license of class 3 is for games of chance where an operator does not have any risks of gaming or financial requirements, yet has its revenue from commissions or charges depending on a stake or a possible prize. This type of license is suitable for advertising gaming in Malta or outside the country. The license is meant for games of player versus player (poker rooms, bingo, etc.).
The last type of license is for managing and hosting remote operators that provide gaming services (it is usually called business-to-business and issued by the licensing board). This license will be necessary for any software developers because operators with an obtained on the island license can only provide their services with the licensed software.
Requirements For License
If an online casino is wishing to get a license from Malta Gaming Authority, there are five necessary stages to go through beforehand.
- MGA conducts investigations concerning any business and financial activity of entities that wish to obtain a license of one type or another. So make sure you are all clear in terms of your documents.
- They will be checking your business plan carefully. How solvent you will be in the event of unforeseen circumstances and whether you will be able to pay the required amounts to the players.
- The third thing to consider is your statutory and operation terms. Malta Gaming Authority wants to make sure there are no confusing terms or ambiguous rules.
- If you have successfully gone through the previous stages, then little remains to be done. Preparing for the launch of the website to the general public and retesting the work of all its systems.
- Of course, with periodicity at some time, the MGA will recheck a platform for compliance with all requirements (the same for software developers). If everything goes well, an o