Currently lots of jurisdictions legalized gambling. However, it’s required to get the appropriate license in order to start work. Let’s consider the peculiarities of Malta gambling license.
It worth mentioning that each country provides its own rules for gambling business licensing. Operators must comply with certain specific requirements as well as prepare lot of documents in order to apply for an authorization document. The current article describes the main license obtaining aspects for online gambling in Malta.
Malta is one of the most popular jurisdictions for obtaining a gambling license. It is an independent republic and a British Commonwealth of Nations member as well. It is the first EU country which launched gambling online. Nowadays Malta is one of the most global online gambling jurisdictions in the world.
Gambling business license features
Malta has started online gambling operators licensing since 2000. But licensing terms were changed after joining the EU in 2004. It was proposed to form four Malta gambling licenses classes:
- Class 1: license for the operators, providing games in online casinos, lotteries, and random number generator-based gambling;
- Class 2: license for bookmakers;
- Class 3: license for advertisers and advertising companies, including P2P networks, poker sites, bingo;
- Class 4: license for companies providing software to organizations involved in online gaming.
The way to get a gambling license in Malta
Gambling license getting in Malta is a rather complicated process, since the government pays a special attention to the current segment. A strict verification takes place at each its receipt stage. It’s required to consider the fact that, it will be quite complicated to obtain the license for the first time. But the operator will be provided with the warranty, support and worldwide recognition document in case of success.
A license can be obtained within three to four months if having got certain experience in the gambling business.
The gambling license obtaining cost in Malta is high, especially for 1st class online casinos.
Both taxes, financial and audit reports, high government duties and ground office maintenance make Malta an expensive and prestigious gambling jurisdiction.
Multiple gambling operators used to delegate the license issues to professionals. The market provides lots of companies, helping to collect the required documents and applying for a license.
The prohibition reason to work without a license
High competition in the gambling market provides its own rules. You must take care of your business reputation and prove that it does not violate legal requirements if wishing it to be successful.
The license will make online casinos more attractive to customers since online gambling industry is deemed the most unprotected.
Another Malta gambling license obtaining benefit is that such authorization document will not force to resolve any bank account opening and web page connection processing issues. Large financial institutions willingly cooperate with the casinos, which have got Maltese license.
Malta is EU member, which has approved the gambling field activities regulation at the legislative level. Malta guarantees the remote games operators and players’ rights and interests protection. Top 10 global online casinos’ representatives operate on the document basis, issued by the current jurisdiction authorities, which once again confirms the high importance of the current license global authority.