In 2024 Malta remains one of the best places in the world to operate a betting company. While there are still many countries where gambling is yet to be made legal, that’s far from the case in Malta.
Whether it be gambling at land-based or online casinos or betting on sport, you are well catered for and protected from fraudulent behaviour.
The latter part of that sentence is extremely important. If you are to gamble, then you definitely want to feel safe from the kind of fraud that sadly exists online. Licensing and regulation is something you should always be concerned with when gambling.
Unlicensed betting companies are to be avoided. They don’t have anyone to answer to and if customers do have complaints, then getting redress is not an easy task.
Gambling has been expanding around the globe especially in Canada. Private companies can now operate in Ontario and gamblers now regularly pay visits to sites like Twin.com online casino to check out the latest slots and plays.
One of the biggest advantages of betting in Malta is the strength of its regulatory framework. This is nothing new because 2024 marks twenty years since Malta introduced regulations for online gambling. In doing so they became the first EU member to do so.
Six years ago, the Malta Gaming Act was introduced and this set out the gambling laws in the country.
Recent years have seen cryptocurrencies gradually become a popular and regularly used payment method in the gambling industry. The Sandbox Regulatory Framework was introduced five years ago. It allowed casinos on the island to accept cryptocurrencies.
The Malta Gaming Authority ensures that gambling in Malta is as safe as possible but not too restrictive as seen in other countries such as Ireland. They deal with both land-based and online casinos. A key task is to issue the licences and certificates to gambling companies. They keep a very close eye on the behaviour of those to whom the licences and certificates have been granted.
Betting companies from around the world have decided to operate in Malta. Not just those who run online casinos and sportsbooks but top software businesses too.
Being granted a licence is so important and no company wants to lose them. This year that has happened with the licence granted to Genesis Global Limited being suspended on January 11.
It’s believed this action has been taken due to undisclosed violations of the Gaming Compliance and Enforcement Regulations. This action led to them having to settle all payments to the Malta Gaming Authority that were still outstanding with just a week to do so.
It’s the latest problem for the company who saw their licence temporarily suspended last year. They also had problems with the UK Gambling Commission being fined £3.8 million two years ago. The actions taken show just how important regulation is in the gambling industry.
Disclaimer: Play responsibly. Players must be over 18. For help visit https://www.gamcare.org.uk/.