Maltese Gaming Authority online gambling licenses with ICGGAMING รับเปิดเว็บพนัน are highly sought after, but obtaining one is easier said than done. Online gambling sites who hold this prestigious license enjoy a degree of credibility that is hard to match, but dealing with bureaucracy is never a walk in the park.
Licensing and regulation of online gambling in Malta
By adopting the Remote Gaming Regulations in 2004, Malta became the first EU member state to fully support online gambling, and its Lotteries and Gaming Authority (renamed the Malta Gaming Authority in 2015) quickly established itself as a preeminent licensor and regulator in the sector. Malta has become a global hub for the iGaming industry because of its welcoming government and booming tech and commercial sectors.
The MGA provides both business-to-consumer and business-to-business gambling licenses. There are four distinct types of business-to-consumer (B2C) gambling licenses, each corresponding to a certain type of gaming that can be offered by the operator.
The Gaming Act of 2018 introduced in Malta in 2018 updated the country’s licensing and regulatory system. Since the regulatory reorganization, businesses have not had to reapply for individual licenses. As an alternative, they can expand the kind of games they provide without having to apply for new licenses. The original five-year licensing term was doubled to ten.
The Value of Obtaining a License in Malta
In 2019, the iGaming business in Malta contributed about €1.5 billion to the economy, or 13% of the total GDP. The 2018 regulatory reorganization in Malta made it one of the most gambling-friendly governments in the world by streamlining the licensing framework and the tax system to prevent double taxation. More than €80 million was collected in taxes, levies, and other government fees from the gambling business in 2019. The MGA’s pro-business posture extends from the highest levels of the industry down to the most hard-nosed entrepreneurs, with the MGA waiving each month’s Compliance Contribution for start-ups during their first year of licensed operation. SiGMA, which is among the largest and most significant yearly events in the international gaming industry, is held in Malta.
Tens of thousands of delegates and affiliates attend each because of the combination of keynote speeches from business leaders, an ever-expanding expo, and social events. There is also a highly educated labor force accessible, in addition to the businesses and gatherings. In 2019, the gaming industry accounted for more than 7,000 full-time jobs, and when including all positions associated to the iGaming industry, the total jumped to over 11,000, or more than 4.5% of the country’s workforce. The Malta Gaming Authority (MGA) is well-respected around the world, and not just because players trust it; the UK Gambling Commission includes it on its “Whitelist,” which means that businesses with an MGA license can legally advertise in the UK. The MGA also cooperates with other authorities through bilateral agreements, particularly in the areas of information sharing and market surveillance.
What’s the deal with Malta?
An Expanding Market
An ever-increasing share of Malta’s GDP
A Optimal Setting
Experts call this place home.
Prestige Par Excellence
Respected all throughout the globe
Legislators with a Level Head
The industry can thrive because of regulations.
Central meeting place for the international gaming industry
The process for obtaining a license in Malta.
The MGA takes great care in determining which applications are eligible for licenses. Players from all around the world have faith in the verification process because they know that the MGA’s stamp of approval means that the operator can be trusted.
An application goes through numerous phases.
Verification of Suitability
- The MGA starts with a comprehensive review of the client’s financial and managerial data. MGA collaborates with law enforcement and regulatory agencies around the world to undertake investigations. Shareholders and other important individuals have their histories checked out.
Verifying the Business Plan
- After an application has passed the MGA’s “fit and proper” screening, the MGA conducts a comprehensive review of the company’s operations, marketing, human resources, and financial projections.
Verification of operational and legal standards
- The MGA looks into the paperwork of incorporation, the verticals, the terms and conditions, the rules and processes, etc. after the applicant’s credibility and the viability of the firm have been proven.
- The applicant’s savings and credit history are reviewed by the MGA. Paid-up share capital requirements vary by permit category.
Assessment of the System
- After the first three stages have been completed, the applicant is informed that their application has been approved, and they are extended an invitation to “implement the casino’s operations onto a technical environment.” Following this, a qualified system auditor, who has been pre-approved by the MGA and selected by the operator, will be carrying out a system audit to determine whether or not the casino operates in the manner that was proposed to do so in the application. The casino’s operations should conform closely to the business plan; if they don’t, the applicant will need to submit a new one. The applicant will be issued a 10-year license once the formalities have been certified.
Audit for Conformity
- An MGA-approved compliance auditor must assess the project within 90 days of launch, and the operator must arrange for this evaluation.
Malta has become a global hub for the iGaming industry due to its welcoming government and booming tech and commercial sectors. The MGA provides both business-to-consumer and business-to-business gambling licenses, with the Gaming Act of 2018 updating the country’s licensing and regulatory system. The Malta Gaming Authority (MGA) is well-respected around the world and cooperates with other authorities through bilateral agreements, allowing businesses with an MGA license to legally advertise in the UK. MGA collaborates with law enforcement and regulatory agencies to conduct investigations, verify business plans, verify operational and legal standards, assess systems, issue licenses, and assess project conformity.