Recently, there was news about how the Estonian casino licenses have challenged the ever-trustworthy MGA licenses (casino licenses issued by the Malta Gaming Authority). Though this is a developing piece of news with further checks and balances in tow, it does bring back the focus to the priority of MGA licensing and its various aspects.
This comprehensive guide will give you an idea of this license, how it protects the players, what are the parameters to obtain it, and the benefits it entails. Here’s quickly checking the details out –
What is the MGA license?
Those in the field of online gambling would know of the Malta Gaming Authority license. For the novices, the MGA licenses casinos are those that have been approved for functioning by the MGA supervisory committee. Though it was initially restricted to offline casinos within the domain of Malta, since 2015, it has enhanced its reach to the iGaming sector, and that too globally. Therefore, if you want to try your hand at an online casino, you must check this regulatory license before taking a pick.
You can surely check out casinos like – Barz Casino, BlackJack City, Overload, Slotable, Just Spin, Arctic Casino, Amok, Reload Casino, and iBet, to name a few!
How does this protect the players?
Now, this is a curious query. You will probably understand that with a supervisory authority at the helm, the online casinos will have to function within a set boundary and will not be able to tread into ‘so-called-dark’ territories in the gambling world. But how does this licensing extend its protection to the players? What do they gain from this? Let’s get to the specifics here –
- The stringent regulations safeguard the players
The fact that the MGA supervises the regulations of the licensed casinos ensures the safety of the players. Everything is codified, and the rules are the same for one and all. Thus, all the players, in case of any untoward incident, can seek legal help, making it a very transparent process.
- It has a strict anti-money laundering format
Many individuals believe that gambling is the ideal way to launder ‘illegal’ money. But that’s not the case with registered and licensed casinos. They have a proper trail in terms of their transactions and accept only ‘white’ money (cash, card, or PayPal).
- It follows fair gaming practices
The licensed casinos operate under strict rules following fixed gaming practices. So, the chances of fraudulence are negated, and as a player, you will not lose your earnings or be cheated – since everything is noted down in fine print.
- A chance to engage with facets of society
You probably won’t believe it, but when you play with an MGA-licensed casino, you are contributing to society. The fact that they are legal organizations and pay taxes ensures that you are in the white zone of gambling.
Secondly, they are also institutions that partner with multiple social and non-profit organizations that help people cope with their addiction to gambling and try to bring them back in the right direction. The addicts are given the chance to play, but albeit within the ‘legal’ zone of gambling and with fair practices. In this way, they protect the current players and help the diverted ones to get back on track.
What are the parameters for it?
Indeed, trying your hand at a casino that has the required license surely protects you in the long run. Hence, as an aware client, you will ensure that when you opt for a game at an online casino, you take a look at this MGA document.
Having said that, here’s a quick look at the parameters that the MGA committee follows before granting the licenses –
- The authorities thoroughly check the criminal records of the owners and ensure that the heads associated with the portal do not have any criminal history or involvement in illegal dealings.
- They ask for a detailed presentation of the business plan. This includes the financial transactions, the domains in which it currently functions (and domains it intends to expand), and the gaming format that it follows.
- Another crucial factor that they stringently check is – the type of software used in this gaming model. This investigation reveals details of the software, its upgradation sets, chances of manipulation, and a host of technical aspects.
- Their operational base must be in Malta. They may function globally, but the host must be within the domestic territory of the country.
- Lastly, it checks the passports and other bank documents of the owners and the rest of the paperwork.
Assuming you have read these parameters, you can judge for yourself that an MGA-licensed casino, unlike any other random gaming portal, will not be involved in fraudulent practices. This, in the long run, secures your future while playing since there will be no undue loss of money, cheating in terms of free spins or chances, or even loss of any untoward deposit amount in the game. Surely, you have complete safety and security while enjoying your time.
The benefits it entails
Now that you are better aware of the specifics associated with MGA-licensed casinos, it is time to quickly check out the benefits of the same.
- The fact that there is complete player safety! Given that every facet is checked before the extension of the license, chances of fraudulence are almost minimal – summing up to nil.
- Another benefit that it provides is – the players follow fair gaming practices. There is no technical or external manipulation involved. Also, the policies and free spins factors are clear, so you get to enjoy the best of the games without fear of malpractice.
- There’s a wide variety of games available with an adequate amount of promotions and bonuses. You will never be at a loss!
- Lastly, with strict regulations, the illegal practices of money laundering and manipulation are negated. So, on the whole, you get a fantastic experience of gaming in the long run.
Clearly, with so many benefits, it is time you seriously check out the above-mentioned names!
Last note
The spread of online casinos has increased superlatively thanks to the penetration of internet services and celebrity endorsements. If you, too, are in the mood for some easy gameplay and wish to check out the available options, then do figure out MGA-licensed casinos, as their strict regulations will figuratively improve your gaming experience.