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Malta Gaming Authority and its licensing program for NZ-casinos!

February 8, 2019 Posted in News, Online Security by No Comments

In 2001, the world was just becoming turned on to the importance of the digital world to all kinds of sectors and businesses. In 1996, the first online sports bet was made from a site based in Barbados and Antigua but the need for governmental regulation was quickly highlighted by the lack of governance already being shown in this sector.

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By 2001, nations around the world were racing to become the first to be classed as the first to regulate online gaming and become the world leader in this area. The passing of the Lotteries and Other Games Act 2001 created the Malta Gaming Authority and put the tiny nation at the top of a global industry.

Benefits for the consumer 

A fan of casinos and slots based in New Zealand may question why they should care about the importance of the Malta Gaming Authority, but the global reach of the agency cannot be underestimated. Those who choose to play online games regulated by the Malta Gaming Authority receive a number of benefits based on the work of the agency. These benefits include protection from sites involved in criminal enterprises such as money laundering, corruption, and fraud. 

Many individuals fear they will fall prey to unfair gaming practices when they use an online casino or slot machine. The Malta Gaming Authority ensures the fairness of all games falling under its jurisdiction through the use of independent audits and extensive research into the games offered online and at physical locations. Another impressive part of the work completed by the Authority is its insistence on protecting minors and those who are the most vulnerable within society. Although the agency based in Malta cannot force the return of a stake placed voluntarily, it can play a role of negotiating the return of a stake or part of the finds gambled when a dispute takes place between player and casino. 

The History of the Malta Gaming Authority 

The Act of the Maltese Parliament creating the agency was passed in 2001 and put the tiny nation at the top of the online gaming industry from its outset. As the first nation to regulate the industry, Malta became the home of many of the world’s leading online casinos, slots, and sportsbooks. The tiny European nation has become so important to the industry that around 50 percent of the bandwidth of the country is used for gaming reasons. The position of Malta as the leading nation in the global online gaming industry has been secured by the low rate of income tax charged for operators of companies in this sector which reaches just five percent after various breaks. Knowing where an online sportsbook, casino, or slots provider is located is important as any problems or issues can be handled directly by an agency such as the Malta Gaming Authority on behalf of the consumer.