Malta is a member of the European Union and has a stable economic and political system. Its legal framework comprises UK civil law and commercial regulations, and its taxation system is OECD compliant. Also, Malta is famous for strict anti-money laundering regulations and rigorous financial audits across all industries including the gaming sector.
The Malta Gaming Authority (MGA) is the primary regulator for online gambling platforms which adhere and comply with its rules and standards. It’s a non-profit organization which issues gambling licences for gambling operators which meet its strict requirements and regulations. And although you’ll find countries such as the United Kingdom have their own gambling license versions, other jurisdictions rely on the strong regulations provided by the Malta Gaming Authority.
Benefits for Operators and Players
The Malta Gaming Authority issues gambling licences to online companies under strict conditions and criteria. Companies must prove that they have enough funds for the business, a clear and concrete ownership structure and that they’re competent to provide gambling services. Also, companies must show that they don’t have any connection with criminal activities such as money laundering or financial fraud. And if companies fail to comply with these standards, the MGA can revoke the license indefinitely.
Owning an MGA license increases online casinos’ trustworthiness and credibility in the online gambling industry. Players feel safer when they’re wagering on games provided by casinos with MGA licensing. The MGA ensures that personal details are processed correctly and that private data is secure. Also, the high levels of transparency and fairness of the games offered by casinos holding an MGA license attract many players.
A casino licensed by the MGA must separate its operational funds from the players’ funds. This adds to the level of trustworthiness and offers increased security to players. And thanks to the MGA licensing, players are ensured that the casino is accountable and fair in terms of transferring their winnings from the online casino accounts to their personal accounts.
The Malta Gambling Authority is one of the world’s leaders in the gambling licensing industry. It aims to provide operators and players with increased levels of security and fairness to streamline the gambling experience. So, gamblers who want to enjoy a flawless, fair, secure and top-quality gambling session should create an account at an MGA licensed online casino.