Mention Malta in a conversation, and the more obvious links would be to the island’s 300 days of sunshine, friendly people (and less-than-friendly driving), beautiful beaches and an enviable geographical position.
But in the past few years, Malta has also gained a reputation for punching above its weight in the financial services sector, including having one of the most solid and trusted gaming licences.
MGA licence makes Malta jurisdiction of choice for gaming
The Malta Gaming Authority is responsible for regulating Malta’s gaming industry, which has evolved from exclusively land-based to also include remote gaming. The latter – a significant contributor to Malta’s economy, directly and with a healthy spill-over effect on other sectors – is a complex set-up that requires a solid infrastructure, high-tech innovations, a variety of skills and a flexible yet effective legislative framework.
It is this combination that has transformed Malta into the jurisdiction of choice for gaming companies and suppliers, and earned the MGA licence a high level of trust, according to a regulation that is both effective and holistic.
The requirements that online operators must meet
The MGA is responsible for issuing gambling licences to operators that meet its strict standards. To receive a licence, operators must demonstrate they are competent and can protect players. Specifically, the criteria include operators to prove they have a clear ownership structure, separate player funds from operating funds, have no links with crime, competency to provide the services they offer, and have sufficient finances. Any companies that break the MGA’s rules and regulations can be fined or have their licence removed.
According to supercasinosites.com the focus on player protection and safety is also critical. One of the MGA’s primary objectives is to give players a clear and safe framework where they can play at casinos and other gambling services, without prejudicing the players’ data and funds. Another objective is to provide players with a fair and transparent gaming experience – while protecting minors and vulnerable persons, promoting responsible gaming in a safe environment, keeping gaming free from criminal activities, and ensuring the integrity of games and gaming devices.
This ties in with the MGA’s declared vision, which is to: sustain Malta’s position as one of the most reputable jurisdictions in the gaming industry; raise standards within the gaming sector globally to make gaming fairer and safer, protecting the interests of consumers; ensure gaming is kept free from crime by intensifying international collaboration efforts; and adapt Malta’s gaming regulatory framework to evolving market needs, aiming for excellence.
This translates into various benefits for operators as well as players, as any casino which carries an MGA licence is considered by players to be safe, as it would have gone through extensive due diligence.
Disclaimer: Play responsibly. Players must be over 18. For help visit https://www.gamcare.org.uk.