Key Regulators UKGC and MGA To Formally Collaborate
The United Kingdom Gambling Commission (UKGC) and the Malta Gaming Authority (MGA) — two leading regulators in the gambling industry — have officially announced a collaboration aimed at better protecting players and regulating the industry. The UKGC oversees gambling activities within the United Kingdom, ensuring fairness, transparency, and the prevention of crime, whilst the MGA regulates Malta’s thriving online gambling market, setting standards for licensing and compliance internationally.
The newly announced collaboration aims to transcend borders and address illegal gambling practices on a global scale. In June last year, the MGA visited its British counterpart to discuss improved oversight of the gambling market. A few months later, the UKGC also advocated for better cooperation amongst all regulators in Europe. As the gambling sector continues to expand globally, with foreign casinos operating across multiple countries, the regulators recognise the importance of extending their oversight beyond national borders.
Make Sure To Read: Sky News: “Accounts For Stake.com For Sale On Social Media”
Strengthen Regulations
This collaboration between the UKGC and MGA is expected to enhance efficiency, particularly in addressing common challenges with both regulators aiming to strengthen regulations. With the formal signing of a cooperation agreement, the partnership has been solidified, marking an important step toward a safer future for online gambling. The agreement enables closer ties, facilitating shared knowledge. This will allow them to better protect vulnerable groups from gambling-related harm and safeguard players from malpractice. Additionally, they will improve efforts to detect and combat criminal activities through effective Anti-Money Laundering (AML) and Know Your Customer (KYC) measures.
UKGC CEO Andrew Rhodes highlighted that this collaboration marks the start of a long-term partnership. “We will raise industry standards to tackle illegal gambling together,” he stated.
MGA CEO Charles Mizzi shared his enthusiasm, commenting:
The informal cooperation has already produced valuable results. This is undoubtedly a step in the right direction. We are confident that the partnership will enable both regulators to continue evolving and improving.
Make Sure To Read: Stake.com Launches Streaming Platform KICK
Loophole of NZ Casinos Using International Licences
The licence issued in Malta is one of the most used gambling licences to target players internationally. This licence is also used by many operators that are available in New Zealand as online gambling is officially not allowed with an exemption for the government-owned Lotto NZ and sports betting platform Tab NZ. Interestingly, gamblers in our country are not prohibited from playing at offshore operated platforms which is why many companies use what is referred to as a loophole construction.
SkyCity is one of the companies that have found its way around this restriction by teaming up with Malta’s Gaming Innovation Group (GiG), allowing them to operate under a Maltese licence. SkyCity’s website is therefore readily available for punters in New Zealand although it does not hold a local gambling licence.
Make Sure To Read: Kick Introduces New Gambling Streams Rules to Protect Viewers
About The MGA and UKGC
The Malta Gaming Authority was established in 2001 and is one of the world’s most respected gambling regulators. It oversees Malta’s thriving iGaming sector, granting licenses to operators that meet its rigorous standards for fairness, security, and responsible gaming practices. The United Kingdom Gambling Commission was founded in 2005 and regulates gambling in the UK, ensuring compliance of licencees with the Gambling Act 2005. Both gambling authorities play a critical role in protecting players, combating illegal activities, and promoting a transparent and trustworthy gambling environment.
Make Sure To Read: MGA Cancels Three Gambling Licences
