Gambling licenses and permits from international bodies like those from Malta or Curacao have propelled online gambling worldwide today. In the past decade alone, internet gambling has reached and crossed continents to the smallest islands and archipelagos around the world. Because of them, gambling is regulated in some form, with safety for players, and fair trade practices for all parties. In 2022, which among them is doing better is a critical question. Yet, in this short article, we shall see if Malta or Curacao is better or worse for your gambling establishment.
Gambling Licenses from Malta
Malta was the first member of the European Union to regulate online or Internet gambling back in 2001, and eventually, MGA was formed. Because of this, even today in 2022, Malta offers licenses in the following categories.
Gaming Service License: This is a type of license application for consumers to offer and carry out any gaming services legally. Among them, there are various divisions from Type 1 to Type 4, for various types of services.
Critical Gaming License: It is a business-to-business or B2B license that helps companies carry out important operations, and critical gaming supply chains of software and hardware.
The general advantages of having a license from Malta would be the following.
- It has a stable framework and strict regulation.
- The protection of players and operators is a top priority.
- Anti-money laundering laws and regulations are also very strictly enforced.
- It is a highly reputable license among the iGaming community and market.
- Multiple types of licenses are available which are active for up to 10 years at a time.
The downsides of MGA are also noticeable.
- Taxation and license fees for MGA licensed casinos are very expensive, higher than Curacao for sure.
- The complete process of application for granting a license is long and complex.
- Your significant portion of offices, infrastructure, and operations must be located in Malta, physically.
Gambling Licenses from Curacao
Firstly, Curacao is the best destination for entrepreneurs, startups, and land-based companies willing to branch out into the internet and online gambling with little investment. The Curacao eGaming License is currently the most popular in the world as of 2022 with over 450 gambling casino licenses right now. Online casinos have the shortest processing time and minimal requirements to get started.
The advantages of the Curacao Gaming License expand territories.
- It is quick and cost-effective and none can compete with it right now. Most of the time, it takes just 2 business days, and setup, maintenance, etc costs are minimal.
- The amount of bureaucracy involved is minimum making it legally hassle-free and easy. It offers the quickest and easiest jurisdiction control.
- Curacao is great for beginners and startups with the flexibility to expand explore, get a client base, and reinvent, without a financial burden.
- Just a single license covers all activity in the iGaming line, whether lotto, sports betting, eSports, and fantasy gambling anything you can offer.
- There are ZERO taxes on these offerings and services and still fully compliant with international standards.
The downsides include not so reputable among gamblers and less protection for players. Because they cannot enforce stricter regulations on companies, they are easy prey. With flexibility also come lesser accountability, safety, and sanctions.
Which Gambling License Is Better?
If you ask anyone, the simplest belief among gamblers and businesses are that Curacao is easier and more affordable, because of which it is highly preferred. Malta is the choice for the more elite and sophisticated. But, several things differentiate them and the pros and cons are worth discussing in detail.
In short, money, expenses, and taxes make Curacao the best destination for all. But, here we take an insider view to explore fine details.
If you want to discuss them, then first you have to take a side. That is, whether you wish to debate as a gambler, player, customer, or casino owner, the head of a gambling establishment. They both make comparing the two gambling licenses and regulatory bodies seem different.
To get a brief view, the MGA or Malta Gaming (Gambling) Authority holds downloadable documents for all casinos and gaming sector companies. For example, you can review and verify Rootz Ltd Casinos details like RTP, year of establishment, software providers, and restricted countries before registering and playing. This serves as useful information for gamblers and players worldwide. It regulated most forms of gambling including online casinos today. It is a part of the non-profit foundation set up by the government of Malta, and the Maltese Gaming Authority. Established in 2001, it is more than two decades old, and by 2021 generated 12% of the country’s GDP. Malta is an archipelago some 80kms from mainland Italy.
Curacao began operating in 1996 but it was in 2016 it begun offering an online gaming license called Curacao eGaming, it is a part of the Curacao Gaming Control Board. In 2022 it is the most cost-effective choice for all forms of gaming establishments worldwide, including structure, banking, legal and other expenses. Curacao is a constituent territory of the Netherlands and forms the ABC islands.
So, when considering an elaborate view of the debate between Malta vs. Curacao, we must consider the following four things.
- Availability of professional iGaming software.
- Betting and gambling avenues in casino.
- Authentic and active gambling license for legal gambling in a country.
- Merchant account for payment gateways.
There are a lot of gambling regulatory bodies and gaming license providers. Among them, the most popular ones are based in Alderney, Isle of Man, Malta, Curacao, Gibraltar, and many more.
In all, Malta is more expensive and complex but also good in the long term because it helps focus on quality over quantity. Curacao is also important because it gives the flexibility and freedom that most need to begin a company, as a startup and grow slowly and steadily. It necessarily doesn’t mean all companies are frauds or of bad quality. In the end, it comes down to customers and operators.