Whether you are new or experienced in online Halo69 gambling, MGA licences are something you are sure to come across. MGA licensed casinos are some of the most popular and trending sites online. As a result, this licensing body is known and associated with reliable and reputed gambling sites. Here we look into how MGA works, and an overview of the same. Also, we look at the benefits that gamblers get when they bet or open accounts at their licensed casinos and the salient features of these domains.
The Malta Gaming Authority is a licensing body that started operating in 2001. It was initially known as Lotteries and gaming authority and is one of the pioneers in the world of online gaming legislation. In 2015 the organization rebranded itself. They became known as Malta Gaming Authority. At such a time the licensing body started to focus on iGaming legislation, in addition to regulating land-based casinos. Today they issue licences for both iGaming as well as land-based casinos.
Responsibilities and duties of MGA
As a regulating body of casinos, MGA carries out specific responsibilities: licenses casinos online and monitors their activities; collects taxes on gaming; investigates complaints lodged by players; administers changes in gambling laws; protects rights of players; ensures that online gambling adds positively to the development of the country; ensures security and safety of the players; and keeps a check on player funds; make sure that their money remains safe.
Why gamblers should look for MGA-licensed casinos
Today some of the safest casinos are licensed as MGA casinos. It is known for stringent regulations and rules. Applicants who wish to be licensed under this licensing body need to submit details of their business practices. After that, as the application process is underway, they require applicants to provide an estimate of their business costs and profits. Also, they need to provide details of their business plan.
In order to get a casino business licensed under MGA, companies need to provide the following: Documents that prove that the owners of the business do not have any existing criminal record; business plan of the company; notarised copies of owner’s passport; details of gaming software used; setting up hosting services for the gambling operation in Malta.
How does MGA protect players?
MGA’s policies are all about protecting the interests of players. As a result, they ensure that casinos work in a way that keeps the players safe and protects them online. As a result, when a casino owner puts in an application for an MGA licence they need to be sure that they are protecting their players from different angles. The guidelines for the same are issued by the authorities as well.
Regulations of MGA that are in favour of players
The way that MGA protects the players’ benefits are as follows:
With strict regulations
MGA started to put regulations in place to protect players in 2018. They worked to put in place a self-barring process that is unified and players can use the same to practice gambling responsibly. MGA also sets maximum deposit limits and asks players to limit the amount they deposit in their casino accounts. These are some ways MGA ensures that players gamble in a responsible manner. They have also permitted several casinos to accept cryptocurrencies. That way gamblers can put their digital assets to use and transact in casinos with them.