The Malta Independent 30 September 2022, Friday
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Malta: Developing the framework for casino operators

Wednesday, 10 August 2022, 15:32 Last update: about 3 months ago

The gambling industry has experienced unprecedented growth, from the brick-and-mortar casinos of the past to introducing iGaming, which uses newly innovated technology to make games easy and convenient. These new improvements, however, come with more sophisticated challenges that need better regulations to provide adequate structure and legal framework. 

The Malta Gaming Authority aims to protect all vulnerable individuals from the danger of gambling by promoting responsible gambling and ensuring a secure gambling environment for all players. Over the years, the authority has continued to ensure that consumers' rights and interests are protected and, through collaborative labour, provides a sturdy framework that meets and expects all challenges, just as the UK Gambling Commission does for all UK-based players by ensuring that only trusted online casino site are operational in the UK. 

Global Online Gambling Market 

Gambling is becoming a large industry, and the online gambling market is expanding. It is expected to peak at an estimated value of $172 billion by 2030 with a CAGR of 11.6%. The online gambling sector is experiencing incredible growth due to the growing demand, as there is a need for more mobile gambling apps and software to accommodate the increasing numbers of players involved in gambling. Millions of people worldwide gamble on online venues, boosting the overall value and revenue generated by the industry as a whole. 

Online gambling continues to change the industry with its adoption of advanced technology and is one of the forerunners in using newly developed technologies. One area is mobile gambling, which has propelled the industry. This preference is due to the ease and comfort of using mobile gambling apps and instant gratification wherever you want to play, further strengthening the industry's growth. 

UK Casino Operators 

All online casino operators in the United Kingdom must comply with the UK Gambling Commission's regulations regulating online gambling and pursue honest, open communication with users. Failure to comply with all rules will lead to a revoked license or face criminal prosecution and scrutiny. Over 200 fully licensed, recognised, and active online gambling software development firms exist. All UK online casino operators must ensure players' funds and identity are adequately protected, with active customer service to attend to customers. The Gambling Commission's primary mission is to ensure that gamblers are adequately protected. 

What Does the MGA Do? 

The constant development experienced by the online gambling industry has increased the need for changes in regulations. The MGA keeps a watchful eye on the online gambling industry and ensures that the sector contributes to the country's development, monitors licensed gambling, collects taxes on behalf of the government, and ensures that the players of Malt-licensed casinos are protected. One thing is for sure, the MGA constantly monitors the behaviours of players and licensees, making changes to gambling rules and regulations as the need arises. This watchful eye provides players with confidence, knowing they are protected from unscrupulous behaviour, which in turn aids in the industry's growth.

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