Malta Gaming Authority watches over gambling sites within Malta. Players can expect any licensed Bitcoin casinos under MGA to follow a strict set of rules.
This regulating commission is popular in the iGaming market due to its policy of being open, fair, and honest to everyone. This office sets an example for others to follow.
What is Malta Gaming Authority?
Malta is one of the leading countries to have the most online gambling companies. About half of the country’s online speed is for gambling websites. One of the reasons why many iGaming companies are entering the country is its low tax rate. What’s more, casino owners can get back about 85% of their taxes back.
To help protect casino owners and their players, the country set up the Malta Gaming Authority. Even though its rules are the adoption of other Games act, this is the world’s first regulations office that handles online sites that may offer fiat and Bitcoin slot and other games. Other regulations around the world have been following the Malta Gaming Authority standards since then.
Malta Gaming Authority is very popular around the world since it is hosting 10% of every global online gambling site. In fact, it regulates NetBet and Jetbull Casino, among others. This is an amazing feat if you consider the size of the country. The country is even smaller than London itself.
Obtaining a license
It is not easy for anyone to get a Malta Gaming Authority Bitcoin or fiat casino licence. The office will first check to see if you as a casino owner has the money, equipment, and manpower to run an online gambling site. You will need to give the office the plans on how your online casino will run. It will work with local authorities to make sure that it has a better picture of the owner.
Malta’s office will look into a casino’s system and software to see if it can meet its standards. You can do this by having your assets checked by a third-party company. You can then continue on to get your license once the company gives its approval to the Malta office.
The licensing fees you need to pay are also something to consider. To sign up for one, you as a casino operator will need to put down £2,330. To have the systems checked, you will need to pay £2,500. Finally, you will also need to pay £8,500 per year for the license.
The amount of money and effort that a person needs to spend is sure to stop many rogue casinos from even signing up for a license. You can be sure of your safety if a casino has an MGA logo on its website.