Whenever players are choosing the website where they would like to play for real money, they often check the legitimacy of the web-based casino. The best way to ensure players that they can play at a properly regulated website is for the casino to hold a license issued by a respected jurisdiction. And while it is better to play at a licensed virtual casino, rather than choosing a website that is not permitted to operate at all, it is the issuer of the license that really matters.
One of the most reputable jurisdictions in the iGaming industry is the Malta Gaming Authority (MGA). It is safe to say that if you come across a web-based casino that holds a license by this jurisdiction, you have found a trustworthy gaming site. And while it is great to be licensed in Malta, there are certain steps that have to be followed before obtaining a license to operate.
Pre-Application and Steps of the Application Process
Companies are advised to go through the MGA’s pre-application programme before they embark on the real application process. The pre-application is conducted by a licensing officer of the MGA and it helps to compile your application the right way. The benefit of going through a pre-application is that you will have an easier time with the actual process of applying for the gaming license.
Once you are sure that you have collected all the right information for the application, you will go through a few steps until you acquire the MGA license. During the application process, it is determined whether the applicant is fit to operate in the gaming business. This is done by making a background check of the company’s owner/s.
Another important thing that is established during the application process is whether the company has a clear vision for its business goals and the methods it will use to achieve them. It is also vital to prove that the company has the financial and the operational means to meet the requirements imposed by the law and policies of the MGA.
Before the company goes live, the technical setup, the software platforms used by the website, the games, the policy, the terms and conditions are all checked by the MGA. This way it is conducted whether the applicant can properly operate, once the license is obtained. You can find the full list of all new licensed UK casino sites where to play at the Gambling Commision’s website.
Types of Licenses and Application Requirements
Thanks to recent updates on the licensing system of the MGA, the process of issuing licenses have been simplified and there are only two types of gaming licenses that can be obtained. Currently, the MGA issues business-to-consumer (B2C) and business-to-business (B2B) licenses.
The owner/s of the company that applies for the gaming license must provide a proof of clean criminal records. The owners cannot provide records older than 3 months. The next step is for the company to pass the “Fit & Proper” test which states the requirements of the MGA that license applicants must meet. The owners of the company must provide notarized copies of their passports and their utility bills which must not date back to more than 3 months. Another document that must be provided is an original of the owner’s bank reference which also should not be older than 3 months. Another important element that applicants must provide is an in-depth business plan as well as a description of the software solutions used by the company. In addition to that, the company must comply for the audits of these software programs. In addition to the listed requirements, one of the most important conditions that have to be met is that the gaming servers of the company must be based in Malta.
Although the whole application process is done in a single step, the MGA has made sure that companies have to go through rigorous check-ups and tests. This way only applicants that have proven their capability in the business and gaming field will be able to obtain a casino license in Malta.