Like any other sphere in business, gambling should be regulated by the higher authorities, which will regulate the online casino sphere. This is crucial for the security of players and confidence that they will not be scammed. For example, it is safe to have a Mr Play login and play at a casino as it is licensed by the MGA.
The majority of well-known casinos are licensed by the Malta Gaming Authority (MGA). The receiving of an MGA certificate is not an immediate process. Several steps should be undergone.
First of all, it is necessary to log in to the Licensee Relationship Management System. In their dashboard, the applicants may see the status of their application, where everything is clear and straightforward.
Receiving a license is not free of charge. All the information about fees and other terms and conditions may be found in the download section.
Requirements for the applicants
The online casino applicants should correspond to the following requirements:
- They should be appropriate for the gaming business.
- Their business strategies for casino games fit the main requirements.
- Their terms and conditions correspond to law and policy requirements.
- Their games, bonuses, rules of play, and other staff have been thoroughly tested.
After the application is sent, the Regulatory Directorate of the Authority will assess the availability of all required documents. When they feel that additional data is needed, they will ask to send more information or provide necessary amendments.
Types of casino games that should be licensed
Not all types of games require an MGA license. The regulation base of the Authority determines games of chance, controlled skilled games, and peer-to-peer ones. The Authority has its criteria in deciding its status: skill or another one. Such classification helps in adhering to the rules and policies in the gaming industry, ensuring in such a way consistency and transparency.
The MGA is an organ to decide whether a game should be licensed or such obligation is absent. Also, they decide which types of games a particular game belongs to. The last type of game has a softer requirement to be licensed.
What about the license fee?
The license fee is present. There are special Gaming Licence Fee Regulations. The amount of the required fee depends on these regulations in accordance with the type of approval.
Also, the license applicant should have a minimum capital between 40,000 – 240,000 EUR.
Types of License in Malta
There are two types of license, which it is possible to obtain in Malta:
- Business-to-business: this license is provided to the game developers and the software providers.
- Business-to-customers: several gambling types of providers may receive this license. They include slots, roulette, poker, and several others.
It is necessary to consider that the duration of the MGA license is restricted to ten years. After that, a new check should be provided.
Advantages of Having an MGA License?
- The license increases the prestige and reputation of the license holder.
- Those who play will feel more trust and confidence.
- Operators that have this license have access to more markets.
- The license holders do not have to pay taxes in their country of origin.
Thus, those companies that would like to have more gamers on their platforms should obtain an MGA license because it ensures credibility and trust.