About Malta Online Gambling Licensing
There are several different places in the world that offer licensing for online gambling operations. If you want to know about Malta online gambling licensing, then there are basically three sets of information that you need to know. First, you need to know about the legislative body itself and exactly what they are responsible for. Second, you need to know the different types of licenses that are available from Malta and what each of them are for. Third, you should understand what operators and other companies have to do to keep their license because this is the key to why a license in Malta is so strong.
The Malta Online Gambling Licensing Process
The Lotteries and Gaming Authority, also known as the LGA, is the actual legislative body that handles everything under the umbrella of online gambling regulation. This includes oversight of the licensing process, and they are responsible for making sure that only operators that follow good business practices are able to get licenses. The issue here is that they want to make their name actually mean something. The LGA can’t keep up a good reputation in the licensing arena if they frequently grant licenses to shady companies.
The Four Different Malta License Classes
Four different classes of licenses can be granted from the LGA in Malta, and this helps to grant different types of businesses the appropriate permissions and levels of responsibility that come along with different parts of the industry. A class one license is the most common for casino game operators, and it covers all types of wagering where a player will be involved in the same type of game over and over again.
The class two license deals with sports betting and betting on other events like that, and a class three license is especially made for operators of games like poker where the players aren’t playing directly against the house. The main requirement here is that the casino is taking a commission from games that players enjoy against each other. Finally you have the class four license, and this class is for software developers who manage relationships with multiple operators.
How to Keep the License
There are several things that a company has to do if they want to avoid having their Malta online gambling license revoked. Generally, this breaks down into a few specific categories like protecting their players from unfair games or insecure data transfers, operating the games within certain guidelines, and avoiding their services from being used for laundering funds. The other requirements of the company holding the license include offering players sufficient support for their product, having sufficient banking options available for players to make deposits and (more importantly) withdrawals, and managing their own financial risk in a reasonable way.
Overall, Malta runs a pretty tight ship when it comes to their online gambling licenses. When an operator or software vendor is licensed in Malta, it’s something that you can take seriously instead of having to worry about whether or not the license is legitimate.
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