Unquestionably, Malta jurisdiction is today one of the most reputable EU members, in terms of regulation of online casinos' activities and establishing the international gambling standards, which happen to meet all the players' demands in the modern world.
Ready, Steady, Go
It all began in 2000, when the Public Lotto Ordinance was established, and the Lotteries and Gaming Authority (LGA) officially started licensing the first internet sites which were believed to follow all the requirements of legal online gambling and fair play.
Of course, all the peculiarities of internet gambling process couldn't be predefined in the initial documents, created with the aim of regulating online casinos' activities, and Malta jurisdiction wasn't an exception from the rule, being not able to avoid several cases of fraudulence among the sites, already possessing its licenses, in the very beginning.
Nevertheless, the official authorities have put all their efforts into development of the region's new policy, which would help bring all activities of the online casinos, registered there, under control. It was much due to the introduction of the Remote Gambling Regulations in 2004, when Malta jurisdiction could start fresh and implement strictly regulated guidelines for its casino license applicants, comprising the highest standards of security of money transactions, in addition to their obligation to provide the clients with the convenient gaming platforms.
Furthermore, it was the Malta Remote Gaming Council (MRGC), created in 2005, which helped to maintain the already gained achievements on the online gambling market.
Diversity of Choice
As for nowadays, the regulatory bodies of Malta jurisdiction happen to be included in the list of the most authoritative ones on the world's online gambling market, whereas the region's benefits lie in the fact that it is known to provide the internet sites with 4 different classes of licenses, each being valid for 5 years:
- Class 1: licenses for online casinos, providing games of chance, such as online roulette, or slots variations.
- Class 2: licenses for online betting operators, especially for those, dealing with sports bets.
- Class 3: licenses for promotion and advertising companies.
- Class 4: for the companies, which only host online casinos, but aren't recognized as gambling operators themselves.
Getting either of the above-mentioned licenses presupposes the applicants' payment of the initial fee, valuing approximately MTL 1,000, while the annual tax is known to equal 1% of the casino's turnover.
What to Expect?
In a whole, Malta jurisdiction is, obviously, facing the most cloudless perspectives in online casino industry, mainly because the region has already gained success in modifying its legislation, concerning the matters of safety, fair play and the gambling sites' liability.