- How to start an iGaming business in Malta
- Analysis of KYC
- Assessment by Compliance Department
- Compliance system audit
- The different types of iGaming licenses in Malta?
Most gaming businesses have a Malta Gaming Authority license, which explains why most choose to start their iGaming business there rather than elsewhere. Malta offers several key benefits for new establishments, including:
- A highly reputable license recognized internationally and based on a sound legal framework.
- Malta is part of the EU and is strategically located in the heart of the Mediterranean, offering a professional workforce with a strong work ethic.
- A strict and professional regulatory board.
- A regulated gaming industry that prioritizes responsible gaming.
- A relaxed lifestyle.
- Cultural diversity.
- Modern technology and infrastructure.
- A strong economy.
- Favorable tax regulations.
Malta is also committed to helping the iGaming industry thrive through continuous investment in modern technology and various supportive services.
How to start an iGaming business in Malta
Malta conducts a thorough review of companies applying for a remote gaming license to ensure credibility and maintain the strong reputation of the Malta Gaming Authority license. To set up an iGaming business in Malta, you must go through three stages:
- Analysis of KYC;
- Assessment by the Compliance Department;
- Compliance system audit.
Analysis of KYC
This is the first stage in setting up your iGaming business in Malta, and it involves the analysis of KYC and all relevant information, including financial and management data related to the company or individual involved. During this stage, the applicant’s business plan also undergoes a detailed review by the Malta Gaming Authority.
Assessment by Compliance Department
Once the first stage is completed successfully, the company may proceed to the next step. In this stage, the online gambling business undergoes a comprehensive review by the compliance department. This department examines all business and technical aspects of the proposed remote gaming operation.
Compliance system audit
After completing stage two, the applicant receives a provisional license valid for six months. This provisional license comes in the form of a letter of intent (LOI). The applicant must begin operations while simultaneously undergoing a compliance system audit.
Before these system checks, the iGaming business must have a solid business plan and meet the share capital requirements applicable to the class of gaming license for which it is applying.
The different types of iGaming licenses in Malta?
For iGaming companies in Malta, remote gaming regulations provide four main classes of remote gaming licenses:
- CLASS 1 — This license regulates casino games and online lotteries. With it, operators manage their own risk on repetitive games.
- CLASS 1 on 4 — Here, a Class 1 license operates its games on the software tools of a Class 4 license.
- CLASS 2 — This license applies to operators managing risks on event-based betting (e.g., fixed odds betting).
- CLASS 2 on 4 — The operator uses a licensed Class 4 platform.
- CLASS 3 — This license allows promotion of remote gaming, where operators earn commissions from facilitating gameplay (e.g., P2P games and poker networks).
- CLASS 3 on 4 — Operators use a licensed Class 4 platform to promote games.
- CLASS 4 — This license allows applicants to host and manage remote gaming operators. Software vendors can provide management and hosting infrastructure on their platform.
