iGaming has become a major contributor to Malta’s GDP and government revenue from the iGaming industry. The industry has generated substantial economic activity in Malta over the past years, particularly since the introduction of the Remote Gaming Regulations (L.N. 176 of 2004) and the upgrading of its internet cable links with mainland Europe.
Over the past years Malta has successfully established itself as a leading, serious and well-regulated European remote gaming jurisdiction and is estimated to host around 10% of the world’s on line gaming companies. The Government of Malta had carried out a complete revision and consolidation of the gaming legislation, and a new all-encompassing gaming law was enacted by the Maltese Parliament in virtue of which the Malta Gaming Authority (MGA) has been set up.
Below are the different classes of Remote Gaming Licenses that can be applied for:
- Class 1 Remote Gaming Licence – applies for operators who offer games which are based on repetitive events and the gaming risk is managed by the operator. This type of license covers casino table style games, lotteries and slots. Since the licensee bears the full risk of the gaming activities conducted, the winnings are therefore guaranteed by it.
- Class 1 on 4 Remote Gaming License – an online gaming license for all types of games of chance and games of skill operating on an existing Class 4 licensee.
- Class 2 Remote Gaming Licence – the license covers operators who manage risk based on a singular event using markets. This license covers the traditional fixed odds betting and some forms of pool betting.
- Class 3 Remote Gaming Licence – this license is for operators who organise player to player games but they do not partake in the risk and receive only a commission. This license is suitable for betting exchange providers, pools and poker rooms.
- Class 3 on 4 Remote Gaming Licence -a licence to promote and abet gaming from Malta. For operators who promote or abet gaming from Malta on an existing Class 4 licensee.
- Class 4 Remote Gaming Licence – this license is for software vendors who intend to host and manage remote gaming operators having any class of the above. They cannot partake in the gaming risk and can only receive a commission.
The Application process involves three separate stages and can be obtained in as little as two months from the submission of a complete application. The firm assists its clients with all licensing and compliance issues.
GVZH Advocates is one of Malta’s leading legal practices actively involved in e-commerce and remote gaming law. The firm offers a full spectrum of services including company registration, preparation and co-ordination of all aspects of the application process with the Lotteries and Gaming Authority and on-going support for operators establishing their operations in Malta.
For further information about how GVZH Advocates can help you with your online gaming legal requirements, kindly contact us on email@example.com.