The Malta Gaming Authority : Its Significance in Today’s Remote Gambling Environment
Online casinos find it necessary to secure a license to offer real-money gambling products and services in order to be competitive in attracting customers. However, many startup igaming companies find the UK Gambling Commission’s (UKGC’s) licensing and regulatory conditions too strict and overbearing. If such is the case, they set up their business in Malta, and from there seek approval for a license from the Malta Gaming Authority (MGA), to operate as an offshore online gambling entity
Malta, a small but densely populated country that used to be part of the British Empire, is by itself a popular tourist destination. During the past decade, the regulatory landscape of online gambling had begun to expand outside of the UK and the European Union,
The Maltese government was quick to respond to the changes by offering a robust gaming framework that many igaming companies found easier to comply with, in order to kickstart their remote gambling operations. Even more appealing is that the licensing fees and taxes on revenues, are relatively cheaper when compared to those collected by UK and European gaming authorities.
The Malta Gaming Authority
In 2004, the Maltese government established the Malta Gaming Authority (MGA) to specifically focus on the licensing and regulation of online casinos that will operate as remote gambling facilities. Through successful vetting and review of applications and subsequent compliance with regulatory conditions, the island of Malta, soon became home to more than 500 igaming companies that remotely operate online casinos and sports betting platforms.
The Malta Gaming Authority’s seal of approval soon became one of the most recognized and highly respected in the world.
Another reason why many operators of online casinos and virtual sports books have chosen Malta as their permanent home base is because the Maltese government makes safe and predictable legislations. That particular aspect has enabled many companies to develop and follow their long-term plans, which they were able to carry out as effective strategies amidst a highly competitive remote gambling market.
UK’s GamStop Requirement Could Drive More Online Casinos into the MGA Fold
In 2019 and before the pandemic broke out in 2020, the UK Gambling Commission announced that effective March 31, 2020 all UK licensed online casinos and betting sites must be affiliated with the non-profit organization GamStop, The GamStop mandate ensures that all customers of UK online casinos will be enrolled in a free self-exclusion program in the event that they seek help for, or have been showing signs of gambling addiction.
As an alternative to land based casinos, many made the shift to gambling and betting online. However, they later on learned that they had to search for a Casino Not On Gamstop UK, Otherwise, they could be prevented from experiencing the same freedom of playing without limit, as part of the thrills of playing in a real casino.