It Is Impossible To Start Online Gambling Business without a License
Posted On July 21, 2018
The purpose of getting an online gaming license is mainly to reveal that the business operations are highly transparent in nature with no issues. License also maintains and protects the safety of the software used in gaming. Gambling license of a merchant is verified at the time of creating a business account in a bank. Thus, without license, a merchant cannot be able to start his business.
User, who is ready to buy an online gaming license at any cost, can go for Malta Gambling License, since it is not as cheap as Curacao gambling license. Also, it is not suitable for those users, who want to buy license at cheaper rates. Although its cost is high, it has a unique feature that it contains an expert work force, which cannot be seen in some other low – cost licenses. It also gives an additional benefit of tax incentives to its users. This license is issued in and around 180 countries across the Globe by the MGA (Malta Gaming Authority). MGA is nothing but an independent concern that offers online and offline gaming services. The different kinds of licenses provided by MGA include gaming license (class 1), betting license (class 2), license for promotional activities in Malta (class 3), and license for management and hosting purposes (class 4). MGA also performs financial audits periodically, for which the users will be charged EUR1500.
When a user wants to buy a new license, he needs to pay a fee of EUR5000. If he wants to buy license for system audits, he needs to pay a fee of EUR2500. If a license is bought for compliance audit, then the fee will be EUR3500. In case of license renewals, the application charge is EUR5000. Some amount of taxes is applicable for all classes of Malta gaming license and so that the users need to pay that taxes too, in order to run their businesses. If a user has applied for a new license, the application processing time usually ranges from four months to six months, depending on the need of documentation.
It Is Really Better To Choose License From Malta Gaming Authority
Malta is a small European nation that has its location in the Mediterranean Sea. After a long period of link with the British kingdom, it became independent in 1964. Hence it is currently an independent European country.
The Malta gaming authority has raised huge revenue through selling of its licenses to a variety of casino operators online. Some of the reputed casino operators, who are licensed with Malta, include Guts Casino, Mr. Green, Inter Casino, and Red bet Casino.