It’s Never Too Late To Mend: Malta And Dutch Authorities Aligned Positions On MoU

Article by : Helen Sep 4, 2020

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The illegal activities of gaming operators have reached colossal proportions in recent years. Ordinary players continue to face unscrupulous companies, which leads to negative consequences for licensed operators. To somehow influence the situation, government regulators try to establish a common denominator and develop specific provisions to effectively get out of this situation. The Malta Gaming Authority and Dutch regulator Kansspelautoriteit were able to reach an agreement on the problem. They agreed on some positions and possible actions to suppress the activities of illegal casinos.

According to the Memorandum of Understanding, both regulators will work together to administer the gambling market and prevent the activities of illegal companies running within their jurisdictions. The Malta Gaming Authority (MGA) and the Dutch regulator Kansspelautoriteit (KSA) also plan to use their experience and data to develop new regulations and rules to regulate the gambling market. Regulators are also aiming to weed out illegal companies that conduct fraudulent activities concerning online customers.

The timely exchange of information and synchronized actions of both parties can quickly bring order to the gambling market. If both regulators can make lightning-fast decisions, then with a high degree of probability, illegal companies will completely disappear from the horizon. The MGA and KSA will also help reduce gambling addiction and Internet players’ vulnerability from illegal casinos. The utmost transparency in gambling activities should become the norm for Malta and the Netherlands’ gambling markets. This will primarily affect timely reporting and monitoring of compliance with obligations to customers.

The main goal of these MoUs is to quickly exchange information and experience. The ongoing collaboration between the two regulators should be a powerful signal to all operators that the gambling market will be tightly controlled internationally.

For her part, MGA CEO Heathcliff Farrugia has expressed high hopes about a new agreement between the two government regulators. It seems that this memorandum also covers other administrative bodies that can influence the situation. “Previously, the mutual understanding and cooperation between the MGA and KSA have already shown concrete results. The current memorandum of understanding formalizes the relationship between the two bodies and will facilitate closer cooperation at the global level,” – mentioned Farrugia.

More recently Malta Gaming Authority has granted an official first-class license to the popular operator BetConstruct. This brand is a renowned developer and supplier of online products and software. Obtaining an official first-class permit is one of the essential steps for a company that actively develops services at the international level. The developer can now offer its services to all licensed operators registered in Malta and diversify their gaming portfolios with top-notch software.

Clients of gambling companies will now be able to seamlessly access online products from BetConstruct as they will appear on most gambling sites. The brand’s partners have already expressed a desire for further cooperation. Now, game operators and developers will be able to take advantage of fully-fledged white label gaming products. Moreover, BetConstruct is already in active negotiations and is going through all the necessary coordination stages with the Malta Gaming Authority to obtain a third-class poker license. The well-known gaming platform Vbet.net has become the first gaming operator registered in Malta to decide to cooperate with BetConstruct.

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