Among all existing online casino jurisdictions only a handful is considered to be trustworthy and reliable. Why is this factor so important? Because every gambling site should have a licence issued by the regulative body of the respective gambling jurisdiction. When issuing a licence a regulative body conducts a comprehensive check of gambling process on a site in question including the odds of the games, online casino software used, security measures, customer support service and many other factors. Therefore, a license issued by a trustworthy gambling jurisdiction is practically a guarantee of safe and honest gambling experience for players.
Among the most respectable online casino jurisdictions are Antigua and Barbuda, Gibraltar, Khanawake, Curacao, Isle of Man and certainly Malta. In this article we will explain you the procedure of issuing licenses by Malta jurisdiction.
Small island country of Malta become an important gambling jurisdiction back in 2000. That year a so-called Public Lotto Ordinance was established aimed at regulating Lotto businesses. With the growth of popularity of internet gambling all over the world, another commission for Remote Gambling Regulations was formed as a branch of the original body in 2004. It provided four classes of licenses for remote gambling businesses. Licences of the Class One are issued for internet casino operators, licences of Class Two are issued for internet sports betting sites, licences of Class Three are issued for online gambling advertisers based on the Malta island and the licences of Class Four are issued for managers and hosts of gambling sites that are not directly operators. In 2005 the Malta Remote Gaming Council was established.
To receive a licence from the Gaming Commission of Malta applicants have to meet various requirements.The whole examination process includes three stages:
1. ‘Fit and Proper’ stage. On this stage commission takes some time to decide whether the applicant meets the most basic requirements. The most important factors examined on this stage are bank references and court reports.
2. ‘Business and Technical Ability Assessment’ stage. During this stage experts of the Malta Gaming Commission examine the software used on the gambling site and the general structure of business.
3. ‘Compliance Audit’ is the final stage when the decision whether to grant a licence or not is made.
Licences of all above mentioned classes issued by Malta Gaming Commission have a validity of 5 years. By the way, all licensees should also pay certain charges. There is an initial payment of MTL 1,000 and some annual charges. What’s more, all licensees should pay a gaming tax of 0,5% of their total revenue to Malta jurisdiction. Another explicit requirement that all licensees should meet is that they are not allowed to accept Malta citizens on their gambling sites no matter what.
Malta jurisdiction gained even much more popularity after 2007, when a Gambling Act was passed in the British Government. It provided a list of trustworthy jurisdictions that included Malta andGibraltar. All online gambling sites based there were ‘ whitelisted’ and got a right to advertise their gambling services via British national mass media. It led to numerous new applicant that wanted to get a Malta licence.
Malta jurisdiction wouldn’t go so far without its strict rules and high standards. Playing on gambling sites licensed by Malta Gaming Commission you are guaranteed to get the most secure and fun gambling experience ever.
