Malta Gaming Authority

MGA is one of the most popular licensing bodies in the world, with hundreds of licensed online casinos currently operating. The stringent, lengthy, and complex process doesn’t deter operators from seeking MGA’s renowned licensing approval. Let’s explore the steps a business must take to obtain the coveted license from MGA.

Business Registration

The first step to obtaining a license requires a business to maintain a registered office in Malta. Each company must have at least one secretary and one director. MGA also has minimum requirements for positions, which include obligations to the Chief Executive, Gaming Operations, and Compliance. Legal, technology, anti-money laundering, and accounting are other primary areas under review during the licensing process.

Personnel

After reviewing the background of the company owners and key personnel, MGA officials assess all financial aspects of the company. Determining whether the information provided and all persons involved with the enterprise meet MGA’s standards. This step of the process consists of an investigation with law enforcement and bank references.

Business Plan

A business plan review is the next phase. After the company passes the initial two checks, MGA delves into the business plan to determine its efficacy. Scrutiny of all aspects of the proposed project may include reviews of human resources, software, operations, finances, and marketing. Even proposed hosting companies must meet strict standards under Malta’s online business requirements.

Financials

After accepting the business plan’s feasibility, MGA analyzes corporate documents, rules, procedures, software, and all agreements with third-party vendors. In addition, the company must meet the financial threshold MGA sets for the specific license class, which requires capital of at least €40,000 for Class 4 and up to €100,000 for Class 1. A final compliance review allows operators to go live and show how the online betting platform works. Here is a list of casinos licensed by MGA.

• Betway
• Casumo
• Casino Cruise
• Genesis Casino

One of the benefits is that the Malta license is well respected. Industry leaders across the globe are familiar with MGA, and some countries automatically accept betting platforms licensed by the Authority. While the process for approval is long, complex, and expensive, it’s worth it for operators who want to reach a global audience with gambling entertainment. With one license, an operator may provide services in multiple places and offer a variety of services by adding the associated gambling class type to the permit.

Without a license, operators face several hurdles in building a good reputation in the industry. Advertising restrictions apply in many countries that require licensure for an online betting site to operate. Without the ability to advertise, a company may not remain competitive in the market with others that are free to spread the word about gambling services. Regulators frequently block unlicensed operators to prevent access to citizens. Blocking a website is a measure in place to protect gamblers from disreputable individuals. History of the Malta Gaming Authority License

Launched in 2001**, the MGA controls and regulates all gambling in Malta,** including lotteries, slots, casinos, and online betting operations catering to businesses and consumers. With the goal of ensuring fair gameplay and protecting players from unacceptable business practices, MGA promotes transparency, prevents crime, and protects minors. As one of the online market’s first gambling regulators, the government in Malta has implemented strict requirements for the industry.

Since 2001, the market in Malta has continued to grow, and gambling is 12 percent of the GDP.

Embracing online betting in 2004, the region passed its remote gaming regulations, which quickly became an industry standard for online gambling and entertainment. Malta’s thriving gambling business fuels the government’s open environment, which welcomes the technology, entertainment, and gaming sectors. By offering four different license classes for specific gambling sectors, MGA covers most gaming entertainment sectors.

Benefits

Businesses choose Malta because the license is legal in any country, which doesn’t prohibit its use in online gambling. In addition, EU laws prevent member states from restricting Malta’s licensees. These guarantees afford license holders significant leverage when setting up digital operations in multiple nations across the globe. However, a regulatory body may require a Malta-licensed casino or sportsbook to purchase a local license to adhere to regulations within a specific nation’s borders. Although many regions accept the MGA license, several do not. However, for a global expansion, MGA offers the quickest way to legally operate a gambling business online and advertise to a variety of audiences in various locations.

Another benefit to the MGA license is that operators do not complete the licensing process a second time to add a different gambling class. Instead, it’s a straightforward process to add the category to the existing license. License classes represented include games of chance, sports betting, commission-based gambling, and skill games such as fantasy sports.