Guest Post: How Is The Malta Gambling Licence Holding Up Against Increased Competition In 2022?
Gambling licences are big news in the industry and the gold star is often seen as Malta’s very own Gambling authority, the Malta Gaming Authority.
Having a licence issued from the Malta Gaming Authority (MGA) makes it infinitely easier for a gambling-related business to partner with third-party services, deal with payment methods and allows them to accept players from various European countries.
But there’s some stiff competition when it comes to prestigious licences – with new ones popping up all the time. Let’s see how the Malta Gambling Licence holds up against some of the other new and popular licences:
Malta vs Ontario Licence
One of the newest licences to appear in the industry comes from the province of Ontario in Canada. According to Canadian online casino comparison site, Casino Online In – the Ontario casino licence issued by the Alcohol and Gaming Commission of Ontario (AGCO) works similarly to the MGA licence, allowing new casinos in Ontario Canada, to operate within the province.
The licence fee for the AGCO is cheaper than the MGA licence though – and by quite a wide margin. The Ontario licence is CAD$15,000 (€11,122) and then CAD$15,000 (€11,122) annually, whereas the MGA licence is €25,000 and then another €25,000 annually.
Whilst the AGCO licence is cheaper, it doesn’t come with the prestige of the MGA licence and is applicable only in the province of Ontario. The registration period for the Malta licence is longer though – taking months compared to the AGCO’s 45 days – and the whole process is more complicated, as to be expected.
Overall, the Ontario licence would be the best choice for any gambling business wishing to operate in Ontario – the MGA doesn’t cover Canadian provinces.
Malta vs Curacao Licence
Next up is the gambling licence from Curacao, which is another popular option. The licence from the small island is called the Curacao Gaming Licence and is also held in high regard in the industry.
One of the key differences here is again the cost. A licence from Curacao is going to cost €15,000 and then another €15,000 annually. This makes the Curacao licence a great budget option for online casinos that want to be able to serve European customers. You don’t get the comprehensive anti-money laundering and financial legislation that you do with a licence from the MGA, however.
This lower cost does come with quite a few restrictions. This is because almost every single one of the permits issued with the Curacao licence is a licence. This can cause restrictions on the areas you can operate in and banking options.
The Curacao licence is faster to get than the MGA option as well – taking only four to six weeks rather than the MGA’s three to six months.
Malta vs the UKGC Licence
Finally, we have the other prestigious gaming licence – and one of the hardest to apply for – a licence from the UK Gambling Commission or UKGC.
Both the UKGC and the MGA are incredibly meticulous in their application process and have multiple different licences for different types of gambling. The cost for the UKGC varies depending on what type of licence you need and the turnover of the company, but licensing costs start from around £5,711 (€6,564) initial fee and around £3,000 (€3,448) per year.
The UKGC licence covers the same comprehensive financial regulations as the MGA one, which is why it’s so revered in the industry. It takes quite a long time to get the licence approved though – 16 weeks is the average time.
How Do They All Stack Up
When it comes down to it, The Malta Gaming Authority is still one of the most highly regarded gambling licences in the world and allows any online casinos that get approved for application some of the highest access available. The licence from the UK Gambling Commission is also up there with the Malta Gaming Authority in terms of prestige.
In terms of cost, the Curacao licence is the best option if a company needs a budget-friendly licence that still holds some weight. This licence does come with some setbacks though, namely in the fact that it doesn’t have the same comprehensive financial groundwork as the MGA licence. This can cause trouble down the road when a casino is looking to expand into new territories or add new payment methods.
Finally, one of the newest licences to appear in the industry is the licence from the government of Ontario. This licence is granted from the AGCO and is one of the easiest to get verification for, from the licences on this list. However, it only has jurisdiction within Canada.
James Meadowcroft is an online casino blogger with seven years of experience in the gambling industry. James is on a mission to help and educate gamblers from all corners of the globe on where and how to play; whilst keeping up with the latest and hottest goings-on in the igaming industry.
Lovin Malta is open to interesting, compelling guest posts from third parties. These opinion pieces do not necessarily reflect the views of the company. Submit your piece at [email protected]
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