Gaming Authority Operates Strict Monitoring of Online Gaming Companies

Online betting is a sector that was non-existent six years ago and has since grown to today's four per cent of GDP, earning Lm14 million a year (tourism brings in Lm16 million) and employing around 1,000 people. Recently, online gaming has been the target of French and other news stories, stating that internet sites are not at all legal and they are suspected of belonging to the Mafia.

In response, Mario Galea, MGA's CEO said that its handling of online betting companies registered in Malta is thorough and clean. Malta is the only country in the EU to have included online gaming as part of the areas regulated by the EU directive against money laundering and terrorism. The MGA try very hard to make it non-feasible for the Mafia to use online gaming for its money-laundering purposes. Everything in the Malta-based online companies is fully traceable, and that is exactly what the Mafia does not want.

Malta begins its strict monitoring of online companies that want to relocate to Malta right from the registration period. It asks for personal details of the ultimate beneficiaries of the business and verifies the information given to it. A temporary licence is then granted and for six months all machines have to be in place and kept sealed.

At the end of each month, each operator has to provide information about each player and MGA monitors on a 24x7 basis all the gaming that is going on.

Bookmakers have to operate on a Know Your Client basis and, when wins are registered (of Lm1,000 against the Lm2,000 level as enforced by the EU), the client must provide credit card numbers, passport and also a copy of a utility bill.