Online Gambling Regulations Benchmarked in MaltaMEDIA ROOM
It is complex and somewhat confusing to the average individual but as the world of online gambling continues to expand in all directions the legal framework for operators has also made great strides. Internet gambling was in its infancy as little as ten years ago but now as the industry matures and is creating an economy of its own it is going through just a few growing pains.
Understanding how remote gambling is regulated within the EU is difficult because of the variables involved, not to mention the legal “black-holes” created by the multiple jurisdictions operators work within. Different laws may apply to each of these jurisdictions. Being able to market products around the world in real time has left lawmakers in a quandary as to where to turn for advice. There is little precedent and even less clarity when it comes to creating the structures for regulation.
Malta has been on the cutting edge of the issues and has endeavoured to make a clear and precisely framed standard for those looking for a way through the maze of legal loopholes and barriers. The legal obstacle course created by a virtual world as it relates to the physical real world has been like a dog chasing it’s tail and never catching up with the changes. Enforcement of regulations by regular means is very challenging for countries because the internet’s nature is not really one that you can hang your on.
Online gambling is an industry that generated over €15.6 billion worldwide in revenue in 2008. To drive this mobile economy online gambling operations seek a solid platform for legal business and has made the attainment of such credentials a priority.
Malta’s approach is based on providing licensees through active and effective enforcement, safeguarding the collective interests of Malta-based licensees and protecting the interests of players. With these principles firmly established, Malta has matured into a respected jurisdiction for the regulation of online gambling and this position was reinforced in 2004 when Malta become a full member of the European Union.
The Lotteries and Gaming Authority in Malta continues to demonstrate commitment and determination to retain its position as Europe’s leading remote gaming jurisdiction.