It’s never been easier to bet on sports, thanks to online betting sites. These digital platforms allow users to sign up, deposit real money and place wagers on sporting events. As the internet has grown and become more accessible, online gambling has too, with the majority of gamblers now doing the majority of their betting online.
Although the rise of online gambling has been a positive thing for those who love to gamble, it comes with a lot of potential drawbacks. Underage and problem gambling can cause serious issues, so regulation is necessary. Malta was one of the first jurisdictions to fully regulate online gambling, establishing a legal framework for the best betting sites Malta.
Learn more about the most popular sites and how they work at plainenglish.io: sports betting sites in Malta. In this article, we’ll look at how betting sites in Malta and overseas follow the law.
Malta Online Gambling Regulatory Framework
In the early 2000s, the Maltese government recognised the potential of the online gambling industry. In those days, a few sites offered gambling to players, either through casino games or sports betting. However, lots of them were unsafe, and it was difficult for users to know which they could trust. The government of Malta established the Malta Gaming Authority (MGA), to set out legal regulations for the online gambling industry to follow.
Sports betting sites in Malta need to be licensed by the MGA to operate legally, and many overseas sites also apply for a licence as it’s a mark of trust. Players see the licence and know the site is fair and safe to use. Since the MGA was first established, it’s become one of the leading examples of regulatory success. It’s helped the online gambling industry grow, as it’s far easier to find safe and trustworthy betting sites.
Malta betting sites are known to be trustworthy due to the strict rules and regulations that they need to follow. Here are some of the key areas in which these sites must adhere to the law.
Age Regulations
Online gambling is restricted to those aged 18 and over in most parts of the world, meaning minors aren’t legally able to place real money bets. While it can be challenging to prevent underage gambling, the best betting sites in Malta are bound by law to perform identity checks.
When players sign up, they’re required to confirm that they’re at least 18 years old. Additionally, they must upload a copy of their ID, which matches the information they used to create their account. These identity checks are now a requirement by law, with users at legal and licensed sites always needing to complete them.
Money Laundering Checks
Malta best betting sites are used by people all over the world and often have significant revenue. Criminals have used betting in the past to launder money, moving money between accounts and cleaning money that was made through illegal means. This can have far-reaching consequences, with betting companies unwittingly helping criminal gangs around the world profit.
As the online gambling industry has grown, criminals have sought to benefit from it, but modern regulations require anti-money laundering (AML) measures. These include not allowing withdrawals to payment methods that haven’t made a deposit. While these measures might make things more difficult for average users, they prevent serious crime.
Integrity of Sport
Criminals don’t just use gambling as a way to launder money but also seek to fix matches to profit from knowing the result. Those who seek to ban online gambling often point to the potential issues that professional sports face if players are able to gamble on matches they take part in. Match-fixing scandals have affected many different professional sports in the past, including the most popular leagues.
Any betting site Malta should help protect the integrity of sport by reporting suspicious betting behaviour to the authorities. This suspicious behaviour is monitored by complex algorithms, detecting a higher-than-average number of bets placed on a certain market.
Solving User Disputes
Betting users deserve to be treated fairly when signing up, making deposits, placing bets and withdrawing funds. The licensing authority sets rules which prevent users from being taken advantage of. However, it’s still possible for users to feel that they have been treated unfairly in some way. If a user believes that the site has breached the terms of service and regulations, they can file an official complaint.
The MGA regulations require all licensed sites to respond to user disputes and carry out a full investigation. The best betting site Malta will strive to give users the highest level of support. Additionally, users may seek support from third-party, independent adjudicators. The ultimate aim is for the issue to be resolved fairly and within the regulations.
Encouraging Responsible Gambling
Online gambling has the potential to be damaging if users aren’t protected. Gambling addiction is a real affliction that can affect anyone, causing stress, and financial issues, which potentially lead to other problems too. As they profit from gambling, betting sites also have a responsibility to monitor and address this issue.
Players are given the tools, resources and support they need to gamble responsibility. Those with problem gambling behaviour are identified through betting patterns and can be offered additional support. Betting sites Malta also provide tools such as deposit limits so users can control their spending.