Malta is well known as the center of online casino and betting industry due to lower taxes and the well-respected regulatory body. The Malta Gaming Authority is a regulatory body responsible for both land-based and online gaming in Malta. As the country’s one-stop-shop for game licensing, the organization has to help promote the gaming industry in a safe environment and to ensure the integrity of the devices and games.
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Malta was among the first European countries to regulate online casinos and gambling with the first ever licensee being awarded in 2000. The primary objective of this body was to create a level playing ground for both players and operators that would help transform the once-inconsistent body in a strict but secure and fair organization.
Through the body’s hard work, it managed to achieve its primary goals and targets. It is healthy and safe to say that the Malta Gaming Authority manages the entirety of the online casinos and gambling industry in the country. It also helps to make many informed decisions that have positive effects on the current market.
The Aims and Purpose
The Malta Gaming Authority tries its best to successfully cover all the legal aspects of game providers with a deep understanding of the gambling and gaming legislation. In an open statement of the body’s aims and purposes, the gaming authority quotes from the country’s Lotteries and the Games Act, 2001.
Its mission is to control the many sectors of the gambling and gaming industry that are under the body by ensuring it is transparent, safe and fair to all players. The body’s strategy is to promote and realize its goals. It is committed to ensuring the legislation governing best practices in the gaming and online casino industry is fit for the purpose.
Fast-Advancing technology is a significant challenge to be successful and effective within an environment like this. As a result of the technological advancements, the Malta Gaming Authority focuses on technical proficiency. The approach has enabled the body to be adaptable with the regulatory techniques and strategies.
The Types of Licences Available
The current jurisdiction of the country is noteworthy for a wide range of gaming licenses it provides. The licenses are grouped into four primary classes which include:
• Class one: The Class One is a remote license whereby game providers manage their risks on repetitive games. It is ideal for online lotteries and casino-type games.
• Class Two: This is a remote gaming and betting license for the sports betting.
• Class Three: The Class Three is a license to help advertise gaming in Malta. It is ideal for peer-to-peer and poker room gaming.
• Class Four: This is a gaming license to host and control the gaming operations, which is essentially a business to business gaming license.
The Benefits of an Online Casino to Have a Licence
Since it is difficult to restrict its citizens from gambling, Malta features a long tradition of the gaming legislation. The legislation presents the providers with a wide range of benefits resulting from establishing their operations in a stable and serious regulatory environment. The online casinos that have gaming licenses enjoy benefits ranging from player protection, prevention of money laundering and protection of the public interests to the stable regulatory frameworks.
The license makes the players to trust the gaming and casino providers resulting in more profits. Also, the number of players will increase since they are sure of fair and random games, fast winning payouts when they win and request for a withdrawal from the site. Players will also have peace of mind knowing that their personal and financial data is secure and safe.