Seasoned online gamblers all over the world have learned that there are a number of features to look for when playing real money games. When we use the term ‘online gamblers’, this is everyone who plays online, spends real money on this form of entertainment, and frequents poker, backgammon, casino, bingo, scratchcard, slots and sports betting websites. Even arcade and some skill games websites allow gamers to play for money to win cash and tangible prizes today. But let’s revert to features of websites which allow gamers to know they are in safe hands.
The software company matters, but what really matters to an online gambler is where the site is licensed, and under what laws. We recently came across an online casino that did not even appear to have a license. When asked where their license was held the reply was BVI ( British Virgin Islands). While the website company was registered there, the British Virgin Islands do not license gambling websites.
Never play at an unlicensed site – not even ‘under the radar’ players from the USA need to play at unlicensed websites!
Malta is a popular offshore licensing jurisdiction; it falls under EU laws. The online gambling industry has done a great deal to change the economy of this small island. In a microcosmic way, the USA could even look at the changes this industry has made to Malta and multiply its success into a macrocosmic situation, yet they procrastinate over online gambling legislation as though it were the devil himself.
As far back as the year 2000, the Government of Malta saw the potential in offering jurisdictional licenses to supercasino operators. They passed laws to the effect that online ops could find a home there, and coupled Remote Gaming Regulations with their Income Tax Act. A new Income Tax Act was written, and in May 2004 they became the first European Union Member State to regulate online gambling.
Many major gambling corporations from all over the world have been licensed in Malta under their Lotteries and Other Games Act of 2001. By the end of 2009, 330 remote gaming businesses had become licensed in Malta. We don’t have the latest figures, but these numbers were released by the Malta Lotteries and Gaming Authority in a 2011 industry update.
Malta currently serves more than 10% of the online gambling market world-wide; that’s a lot for a little island of only 316 kms2. They have issued a total of 500 licenses and currently this sector of the gambling industry employs over 5 200 people. Tax revenue for the Government was €52.5 million in 2009. By comparison, the size of the USA is 9,826, 630 square kilometers, and it is filled with people who want to gamble online. We honestly cannot understand why it is such a big problem.
The mission statement of the Maltese licensing authority is to ensure that “gaming is fair and transparent to the players, preventing crime, corruption and money laundering and by protecting minor and vulnerable players.” All the USA has to do is commit to the same. You can’t say fairer than that?!