What is Malta Gaming Authority?
With many gambling companies moving online and many new online gambling companies coming up at a remarkable rate in Malta, there has been a need to create a stable and attractive regulatory environment for the gaming industry in Malta. Malta Gaming Authority has taken upon itself to do this and provide the environment necessary for a thriving gaming industry.
But what is Malta Gaming Authority? Let us find out.
What is Malta Gaming Authority?
The Malta Gaming Authority or MGA is the main regulatory body responsible for all gaming activities, including online and land-based gaming, in Malta, an island country in the central Mediterranean between Sicily and the North African coast. It also has the authority to issue gambling licenses to online companies that meet its strict standards.
MGA was among the first few gaming authorities globally, and it set an official standard for others to follow. Malta’s gaming regulations are well known to be strict and structured, and the MGA takes pride in setting high levels of openness, fairness, and honesty. Together with the Maltese authorities, MGA keeps working to create the right environment for gaming operators to feel safe and protected.
Why was Malta Gaming Authority Set Up?
Online gambling started growing in popularity at the turn of the century, and Malts embraced it with open arms. Many online gaming companies started to operate from there as they levied low taxes and provided incentives to gaming companies, making Malta one of the essential locations in the world when it comes to online gambling. With the growing online gaming industry, there was a need for a regulating authority to promote gaming in a safe environment and enhance the ecosystem surrounding the gaming industry. Additionally, there was a need to protect minors against crime, corruption, and the risks of gaming and devices. Hence, the Malta Gaming Authority was created in 2001 to regulate the gaming industry as part of Malta’s The Lotteries and Other Games Act.
What Does the Malta Gaming Authority Do?
The Malta Gaming Authority sets very high standards for online gambling companies and only issues gambling licenses to such companies that meet these standards. While the Malta Gaming Authority only has a small amount of jurisdiction in terms of population and land, many other countries recognize and use the organization’s licenses and gambling guidelines instead of their own for its citizens.
Getting a gambling license from the Malta Gaming Authority is far from easy, though. Indeed companies wishing to do so must meet several criteria, including sufficient finances to fund the business, have a well-defined ownership structure, are competent enough to provide the services they offer, work with integrity, and have no criminal connections. Should the company in question meet these criteria, they can obtain a Malta Gaming Authority license. Any companies that subsequently break the MGA’s rules and regulations after getting a license can have their license removed.
Malta Gaming Authority regulates different sectors of the gaming industry to ensure a fair and transparent experience to players. Not only this, but it also preventing crime, corruption, and money laundering through gambling. It takes care that online gambling companies in Malta adhere to its set standards and protect vulnerable gamers from being exploited by such companies.
MGA also grants licenses to providers and creates a regulated environment from which gaming activities, remote or otherwise, can take place.
The number of local and overseas licensees operating under Maltese gaming legislation continues to increase yearly, as does the influx of gaming operators setting up shop locally.
Is the Malta Gaming Authority Legit?
Yes, Malta Gaming Authority is legit. It offers four types of gaming licenses:
|Class 1 (remote gaming license)||Suitable for casino-type games and online lotteries.(operators manage their own risk on repetitive games)|
|Class 2 (remote betting license)||Best for sports (fixed-odds) betting|
|Class 3 (license to advertise gaming in or from Malta)||Suitable for poker rooms and peer-to-peer gaming|
|Class 4 (license to host and manage remote gaming operations)||Essentially a B2B gaming license|
Malta Gaming Authority or MGA also licenses these products:
- Advertising lotteries
- Non-profit games
- Amusement machines
- Remote gaming
- National lottery
- Commercial bingo halls
- Cruise casinos
- Gaming devices
- Racecourse bets and sweepstakes
Note: MGA doesn’t license two types of games in Malta, namely, horse racing and spread betting.
How do I Get a Malta Gaming License?
The process for applying for a Malta gaming license is more stringent and in-depth than in most other jurisdictions. This is because the Malta gaming license is considered highly prestigious. Therefore proper checks and processes have to be conducted before issuing anyone a Malta gaming license. Even if you meet general Malta online gaming license requirements, be aware, the Malta Gaming Authority may ask for more in-depth information on a case-by-case basis.
In 2018, the Malta Gaming Authority significantly streamlined the application process. This was done by doing away with the multiple license types and offering just a B2B license and a B2C license. There is now no need to apply for different licenses depending on what kind of games and services you offer. You have the freedom to expand your service portfolio as you go forward without applying for an additional license. In addition to this, the term of the license has been extended from five to ten years. You will need to apply for a B2C license for being eligible to operate a gaming company there.
Since its inception in 2001, MGA has been working to provide gamers with a fair and transparent online playing experience that is free from corruption. With its consistent work as a regulating authority, MGA has made sure that Malta continues to be considered by the gaming industry as a center of excellence – both as a gaming jurisdiction and a dynamic economic hub for iGaming.