The online gaming industry is expanding with new opportunities! Multiple online gaming formats are scaling globally with millions of regular users. Analyzing the scope of the industry, one might think of launching an online gaming platform as well. To start the process, one of the first steps is issuing the right gaming license.
When it comes to the online gaming industry, Malta’s iGaming License stands out as one of the best. A powerful iGaming license like this can make your brand reputable, opening multiple global networking opportunities.
As you follow along this blog, we will discuss why the MGA license is so sought-after and how to get one!
What is a Malta iGaming License?
A Malta iGaming License is an official certification that allows online gaming companies to operate their services. It covers online gambling platforms like online casinos, betting, pokerbazzi, and lotteries.
The Malta Gaming Authority (MGA) issues the license. Acknowledged as one of the most reputable online gaming licenses, it works to regulate iGaming spaces. It comes into play to ensure that iGaming operators follow strict regulations for fair play and player protection.
Why Choose a Malta iGaming License
The Malta iGaming license offers two different license types, as follows:
- B2B for platforms providing services to other platforms
- B2C for operators serves directly to online players.
Each license holds a significant value, ensuring business credibility. Platforms with Malta licenses have smoother access to international markets as well. It boosts the confidence of both players and partners, ensuring a legal, verified, and registered iGaming operation.
It offers benefits such as:
- Global reputation and trust with gaming providers and payment portals.
- EU market access provides exposure to the national and international markets.
- Flexible licensing type benefiting both B2B and B2C services.
Step-by-Step: How to Get a Malta iGaming License
Getting a Malta iGaming license is a multi-step process. Guided by MGA, the timeline can stretch up to 12-16 weeks at a minimum. If you are planning to set up an iGaming venture, let’s unroll the whole process:
Step 1: Pre-application process
Before completing your license application, make sure you have the following:
- A Malta-based or an eligible corporate entity for your business
- A detailed business plan with information about the business model, types of games, target audiences, and marketing strategy.
- Review and predict Market capture and financial projections.
- Verify details about the key stakeholders, like directors, owners, management heads, and their backgrounds.
- Define your technical providers, game providers, and legal and regulatory payment solutions.
Applicants need to pay a one-time non-refundable fee of €5,000 for the application as well.
Step 2: Fit and Proper checks
Once you are done with the initial reviews, submit your application. MGA conducts “Fit and Proper” checks for all the people and assets involved in the business. It evaluates your business stability, reputation, and credibility to ensure it is ready for the market. For a smooth checking process, you’ll need documentation like:
- CVs and references for senior management
- Proof of business funds
- Background check information, like criminal records or verification documents, for stakeholders.
Failure in accurately verifying your business manpower and resources can delay your process. In extreme compliance issues, your application can be refused directly.
Step 3: Operational review
During this stage, the authority assesses your business viability by analyzing your:
- Business model ( markets targeted, specified audience, and types of games provided).
- Terms and conditions statements, player agreement, and risk control services.
- Technical setup: software platform, games, RNG certification, server location ( must be in Malta for multiple licenses)
It is done to ensure fairness, regulatory compliance, and transparency in business operations.
Step 4: System reviews & technical audit
This is done to check your live or pre-live streaming systems. It is usually performed by an independent auditor or third party. The audit will verify:
- Player registration processes
- Player account controls for payments
- Game logs and data security
- Game fairness (RNG certification)
- Technical infrastructure compliance
Only after a successful technical review, the MGA issues the license. After a successful approval, your platforms can go live for operations.
Step 5: License compliance
After approval, you obtain your MGA license. It is valid for up to 10 years under the current regime. In this period, you can launch your iGaming operations. During operation, businesses must support ongoing reporting and adhere to KYC, player protection, and responsible gaming standards.
However, according to MGA, regular compliance audits are mandatory in their initial year.
Summing Up
Getting a Malta iGaming License may seem like a hefty process, but it’s essential for building a credible iGaming platform. With compliant documentation and legal wisdom, you can secure the license to scale your iGaming platform online.
Partner with Casinos Betting to understand the intricacies of iGaming regulation directly from experts. From setup to licensing, CasinoBetting is dedicated to helping businesses attain proper knowledge about the iGaming industry.
