When we talk about Malta, the first thing that comes to mind is the incredible progression of the gambling industry there. Actually, this island is the capital of iGaming in Europe and is well-known for its regulatory body called Malta Gaming Authority (MGA). This entity was set up when the Maltese Government passed the Lotteries and Other Games Act in 2001.
Previously named Lotteries and Gaming Authority or LGA, this Maltese governmental department is chosen by many operators around the world for its competence. In fact, apart from regulating all types of gambling activities in Malta, many global gambling industries and software providers choose this company as well. Therefore, all firms who want to involve with gambling activities both online and land-based have to apply for a licence from Malta Gaming Authority.
Malta Gaming Authority Features
The regulator MGA issues four licences that depend on the types of gambling activity the operators want to run. Actually, this document may refer to non UK online casinos without UKGC licence that is available for Brits. These IGaming licences may be provided for these types of games:
- Brick and mortar casino games, online casino games, online lotteries, and skill games.
- Fixed-odds betting, spread betting, and pool betting activities.
- Control skill games like fantasy sports
- The gambling operators who promote and encourage gaming in Malta
To obtain a licence from this most respected regulatory body, the interested companies have to meet some requirements. Firstly, these operators have enough finances to run their businesses. Additionally, their skills are also required so that they can offer the best services to their customers. Nonetheless, any firms that break these rules set out by this regulator can have their licence removed.
Like every renowned gambling regulatory entity, MGA has drawn up many regulations to create the regulatory framework that covers the activities licensed by this entity. Responsible for the governance of all companies under its regulations, this external governing body often updates its rules that are appropriate to the consumers and the operators. These laws and regulations are implemented to make the gambling industry in this territory safe and fairly.
The main activity of this body is first to research a different aspect of gaming. Besides, it also offers different operating licences related to gambling. As this regulatory monitors its licence holders, it also ensures that the gambling industry contributes to the development of the country. Finally, its last activity consists to collect taxes related to gaming on behalf of the Government.
Malta Gaming Authority Duties
The main responsibility of the Malta Gaming Authority is to regulate the various gaming industries by ensuring a fair and transparent experience for players. Hence, these gamblers especially the vulnerable ones can be protected while also preventing them from corruption, money laundering, and crime through this sector.
As young and vulnerable players are the main victims of gambling, protecting them is paramount to this Maltese governmental department. It protects the players’ rights and encourages responsible gaming as well. The regulatory authority ensures also that the gambling industries use effective policies and strategies to avoid criminal activities and also plans to launch a self-exclusion system.
The regulator makes sure that gambling companies won’t misuse their customers’ data. MGA also checks if the firms use effective strategies to protect players’ data against cyber attacks from hackers. If the companies are proven to be incompetent in safeguarding the members’ data, they won’t receive a licence or their licence will be removed.
What’s more, the gaming control board of Malta ensures that gambling firms provide a fair and transparent gaming experience to the players. In an online casino, both the operator and the software provider must supply a fair result in the games like slots, blackjack, and roulette by using the Random Number Generator (RNG) technology. With technology development, the operators must be responsive and equipped to meet the challenges posed by this regulator.
With the clear aim to regulate the various gambling activities that fall under the regulatory authority, the gaming control board of Malta focuses on the gambler’s protection. Very strict and severe when it comes to providing fair and transparent experiences to these gamblers, Malta Gaming Authority has used effective policies to attempt its goal. Since its creation in 2001, the regulator has shown its competence and doesn’t hesitate to fine any operators who don’t treat consumers fairly.