Malta Gaming Authority Casinos – A short history
The Malta Gaming Authority is the official legislative body that governs all online gambling operations. Malta Gaming Authority was initially founded in 2001 as the Lotteries and Gaming Authority (LGA). The governing body was one of the first organizations to start regulating online gambling activities in the world. LGA began regulating online gambling with the Lotteries and Other Games Act (2001). The Gambling Act was the first of many laws and regulations to come to control online gambling activities. In 2015 LGA rebranded itself as the Malta Gaming Authority that we all know and admire today.
Today, Malta Gaming Authority is the official regulator of most forms of gambling activities in Malta. Malta Gaming Authority regulates both brick and mortar establishments as well as online betting operators. The list of activities that MGA regulates include video slots and all other casino games and gambling forms such as poker tournaments, virtual sports, and even B2B and B2C services. If you want to understand what the purpose of the Malta Gaming Authority is, we have included a list of their regulatory objectives down below.
Regulatory objectives of the Malta Gaming Authority
- Protection of Underage people
- Licensing of Online betting operators
- Monitoring of Operators that hold the MGA license
- Ensuring that all games are fair and reliable
- Protection of players (including their account balances)
- Advocating Responsible Gambling
- Ensuring that Gambling activities have a positive impact on Malta and Maltese people
MGA Casinos - MGA license requirements & license fees
Malta’s gaming license is widely seen as the world’s safest license because of its demanding requirements. To get the license, applicants for the Malta’s gaming license must first give a detailed account of their business practices to Malta’s Gaming Authority. During the application process, the applicant must also provide an estimation of costs and profits for the casino that they are founding. They must also present Malta’s Gaming authority with their fully detailed business plan.
Malta Gaming Authority was primarily established to ensure players’ safety on every possible level, and online casinos must comply with this authority’s rules absolutely, to get their coveted license. Some of the rules might even sound too harsh to some players, as online casinos that hold the license cannot, for instance, hire people with a criminal background. Besides, MGA demands detailed accounts of all the employees that the owner of the license has. To get the license, the owners of the license must also pay Malta’s Gaming Authority a fixed fee of 25 000 euros annually, and the license owners must also pay some additional license fees to the MGA based on their annual revenue.
The basic requirements to get the MGA license are the following:
- Documents to prove that owners of the company don’t have a criminal background
- Notarized copies of passport(s)
- Bank references from owners
- Notarized copies of utility bills
- Fully detailed business plan
- Details of gaming software platforms and systems used
- Hosting of gambling operations must stay in Malta
And the basic license fees for the MGA license are:
- Fixed annual license fees of 25 000 EUR
- Additional license fees based on the casino’s annual gross gaming revenue and its license’s class
Malta Gaming Authority license classes (MGA Casinos)
- Class 1: Includes games available in typical gaming establishments (video slots, casino games, blackjack, baccarat, etc.), skill-based games, and lotteries. A Class 1 licensee will be responsible for the risks associated with repetitive games.
- Class 2: Betting operator needs this license to provide games with fixed odds to players. A Class 2 gambling operator is responsible for the risks associated with matchbook betting.
- Class 3: A gambling operator will need this license to offer peer-to-peer, bet exchange, and poker network games to players. A Class 3 operator takes a percentage-based commission for promoting betting games.
- Class 4: A licensee with Class 4 MGA license is able to host and govern online gaming operators but cannot itself function as a gambling operator. Class 4 licensees are typically software and game providers.
New MGA Casinos 2021
Payment methods supported by MGA License Casinos
Payment methods are undoubtedly important for online casino players. Fortunately, when it comes to MGA casinos, they support multiple payment options. They include e-wallets such as Skrill, Neteller, and Trustly as well as all major debit and credit cards such as Mastercard and Visa. Players can also make deposits with bank transfers at most casinos that hold the MGA license. However, some of the more innovative payment options, such as eChecks, are still yet to be included as payment options to MGA casinos.
Advantages & Disadvantages of the MGA license
You should, by now, have a good idea of the pros & cons of casinos licensed by the Malta Gaming Authority. To aid your memory, we have created a list of some of the pros & cons associated with MGA casinos.
- Online gaming laws are constantly revised
- GDPR considerations are taken seriously
- Recognized by most jurisdictions in the world
- Application process for MGA license is fast
- Highly prestigious license
- Not recognized in the UK
- MGA Casinos have rigid advertising rules
All MGA casinos conveniently listed at Mr Gamble
To recap, many casino players trust online casinos that hold the MGA license, and for good reasons. They provide players with tax-free winnings, and they are guaranteed to be safe and reliable to players. For these and many other reasons, many European players prefer playing at MGA casinos over other casinos. If you want to find all the online casinos with Malta’s gaming license, please visit our casino reviews page. We promise that finding the best MGA casinos at Mr Gamble is fast and easy!