The growth of online gaming sites over the past decade has certainly been considerable when you take into account the millions of people who play on a daily basis. Over this period of time, several countries have opened up their services to run and oversee such gaming which means that businesses or entrepreneurs can take actually become owners of a remote gaming site. The potential for making money in this type of endeavor is considerable, but it will be based on finding the country that offers the most favorable set of rules and regulations.
Malta has emerged since the turn of the 21st century as one of the easiest places to set up a new gaming endeavor. While the country has a long history of favorable business rules and regulations, just what is it about Malta that makes it the place to form online gaming efforts?
Why Choose Malta?
There are a number of reasons why Malta has become one of the hotbeds for hosting remote gaming sites. As a member of the European Union, Malta has always been at the forefront of limited business rules and regulations that have allowed thousands of companies to set up shop and make a considerable amount of money.
When it comes to remote gaming, Malta first established their rules in 2000 under the Public Lotto Ordinance act which regulated betting offices that were offshore. Afterwards, the Lotteries and gaming Authority (LGA) was set up to regulate all lottery and gaming or betting activities. In 2004, the rules and regulations were revamped into the Remote Gaming Regulations which made Malta the first EU country to enact such legislation.
By the following year, the Malta Remote Gaming Council was created which brought together all the elements of lotteries and gaming activities under one governing body. This not only clarified the rules and regulations, but also made it much easier for businesses to apply. In addition, the gaming council was open to new opinions and trends that bring variations to the rules and regulations, adding them when needed and streamlining or removing old or outdated ones to make Malta one of the premiere places to set up a lottery or remote gaming company.
How It Works
The process of getting a Malta gaming license is one that is less involved than most other countries because there are fewer laws and less rigorous standards when it comes to the application process. While the rules that do exist are enforced, they offer many people the opportunity to set up their gaming efforts considerably easier than most other Western countries.
Application: The first step in setting up a betting company in Malta is putting in the application. All the information that is used to fill out the application must be checked and verified for accuracy. Plus, the information that relates to the financing and management of the company that is making the application must be evaluated as well. In essence, the first step is a test of whether the business has the financial and management resources to qualify in running an online gaming company. Normally, it takes a couple of weeks for this process to be completed.
Assessment: After the application process, the next step is the examination of what is needed to run the business endeavor. This will include the following;
- Documents of Incorporation
- Processes of Running the Games
- Rules, Terms, Conditions and the Procedures of the Game
- Application and System Architecture of Gaming as well as Controlling Systems
It takes about three weeks for this process to be completed.
Audit for Compliance: Once the second stage is completed, the next step is a letter of intent to operate the remote or online games by obtaining proper certification of compliance that takes about six months. During this time those who apply may set up their business in Malta while carrying out the agreements and testing the set-up of the system itself. Once approved, a formal license will be issued that generally takes another couple of weeks after the certification process has been concluded.
There is a non-refundable application fee that must be submitted as well as an annual license fee. The fees may be paid in Maltese currency or bank transfer if you so desire. Once everything is paid, the gaming itself is overseen by the LGA in Malta which has a series of regulations that govern the type of games that are allowed.
Why Choose Malta For Igaming?
There are a number of reasons why getting a Malta gaming license is beneficial over trying to obtain one in most other countries. For obvious reasons, Malta has become the premiere EU country when it comes to gaming regulations which is why setting up a betting company in Malta is highly desired.
- Licenses for all types of Casino and Online Casino Games, Betting Exchanges, Gaming Platforms, Lotteries and the like
- Malta is Economically Stable with Attractive License and Corporate Tax Structure
- Malta offer Serious, Credible Regulations for Gaming Companies & their Customers
- Professional Services w/Reasonable Fees and Costs
Our Services to You
When it comes to Betting & Gaming companies, we also offer Key Official and Director Services as well. This provides you with a little more flexibility which in turn means that you can get more out of your Malta gaming license.
We have our own web developers and programmers who have a considerable amount of experience when it comes to setting up gaming sites and platforms. In fact, our developers are highly ranked in the industry and carry that reputation proudly as we have helped so many when it comes to setting up a betting company in Malta.
Our Unique Selling Point (USP) is that we do more for you than just set up your company, establish the structure and take care of your Malta gaming license year after year. We take the extra step of setting up your website as well to make it a complete package to serve your needs. Let us be your company that gets you into the lucrative world of gaming thanks to our complete services.