The Malta Gaming Authority, also known as MGA, is an official governing body that controls all the online and offline gaming operations established in Malta. The MGA license is sought after by most gambling operators. The MGA authorities encourage safe and responsible gaming along with checking the integrity of the devices and games of MGA casinos. After ensuring that every condition is satisfied, an MGA license is provided to the gambling operators so that the regulations of the environment remain safe and are not hampered in any fashion.
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MGA was officially founded in 2001 but as the Lotteries and Gaming Authority or LGA. This was one of the pioneers who started regulating online gambling operations all over the globe. And their first step was to control all the digital activities related to the Lotteries and Other Games Act in 2001. This Gambling Act was among the first laws to come into effect for regulating online gambling operations. In 2015, LGA changed itself to MGA and has since established itself as one of the best gambling licensing authorities.
Malta regulates most of the types of gambling activities in its region. And the group of activities mainly includes the majority of casino games, video slots, and other gambling activities like virtual games or sports or poker rounds and even B2C and B2B offices. The regulatory acts of MGA aim at:
MGA licensed casinos can belong in different categories, which are as follows:
MGA’s license is often considered the safest and most trustworthy gambling licenses for its strict requirements. While applying for Malta’s gambling license, all the applicants have to submit their detailed report of work practices to MGA. They also have to give their approximate costs and gains for their gambling activity. They also have to show their full-detailed business plan to MGA.
The MGA was established with the primary concern of ensuring and safeguarding the individuals on every possible level. And, the online casinos have to observe all the rules of the authority to obtain their precious certificate. Some of the regulations might even sound severe to the players. For instance, individuals with criminal backgrounds cannot be hired for the gambling businesses’ work. Moreover, being a gambling operator, you must submit a comprehensive report of all the employees working in the company.
Here are some of the MGA license requirements that the applicants have to follow:
All the administrative fees that have to be submitted for MGA casino sites are non-refundable. The yearly license fee and the compliance costs have to be submitted to MGA depending on the type of license obtained and the amount of revenue generated within a B2B or B2C company. All the MGA license holders have to give a fixed annual fee of 25,000 Euros per annum. And they also have to pay a certain amount of additional license fees to the authority, depending on their yearly revenue.
Malta is the first country to control online gambling activities. This happened by adopting the Lotteries and Other Games Act, as stated earlier. Being a pioneer, Malta is a natural leader in this industry, as it is at present. It still holds on to its position at the forefront of this sector. The legislative design that stands in place today was set up many years ago, when it was highly unregulated, allowing others to follow an official standard.
MGA has stern and well-structured regulations. Today, what it is known for is the rich standards of fairness, openness, and truthfulness. It prohibits corruption and crime on all levels. It takes strong measures to protect its players and their account balances against the risks of gaming.
The digital gaming market is one of the most lucrative markets in Malta. This region itself houses about ten per cent of the globe’s total online gaming operators. And it is an incredible mark when it comes to the statistics of such a small archipelago that is almost five folds smaller than Greater London.
Malta may not arrange and host great sports events. But it surely houses the best known digital gaming sector called the Summit of iGaming, also known as SiGMA. This is a special conference that calls in guest speakers from all over the map and welcomes numerous exhibitors, showcasing their latest technology, ideas, and games, including Ladbrokes, ComeOn! and so on.
The applicants can submit all the necessary documentation at a single time. During the assessment tenure, MGA will thoroughly check if the applicant:
Here is the complete application procedure:
Along with that, the licensee will also be responsible for the least issued and paid out share capital necessities.
To the least, the businesses with multiple approvals will have to meet the already mentioned share capital necessities, capping €240,000. Any inconsistent and inferior application will be rejected, and the applicant may have to re-apply for obtaining the license. Your application matters the most, so it should be rich and up to the mark.
Once the above-mentioned steps are cleared out, MGA will inform the applicant that its application was successful and will ask the applicant to show the technical arrangements and mannerism of going live. Sixty days will be given to the applicant to complete this activity. Suppose the applicant fails to carry out the operation. In that case, it will be taken as suspended, and the individual has to re-apply again.
After obtaining the license, the licensee has to undergo several compliance reviews during its functioning. And this is also performed by the third parties of MGA, contracted against a determined market value.
For the reviews, there is a certain schedule that you have to follow:
In case you fail to perform the compliance review, it will lead to your license suspension or even termination.
Having the Malta Gaming Authority license can give you a range of benefits. You get a highly trained and experienced workforce for making an operation successful. Moreover, Malta has a pretty good financial condition. And the main credit for it goes to Malta’s tax authorities. The lower tax rates with a stable economy will help the businesses to flourish there. MGA is a renowned licensing body. So, its license for a casino will surely have a far-reaching positive impact on any gambling business. Players look up to this as the trademark of authenticity, honesty and fair play that will help them to play responsibly and safely. Being the pioneer of gambling license authorities, MGA sets a perfect tone for promoting games while staying safe.
MGA casino sites are considered among the most reliable in the gambling business. In terms of trustworthiness, the MGA licence is regarded as a top-notch licence along with the UKGC gambling licence.
The MGA reserves the right to determine whether a game is considered as licensable or not.