In the past, an individual who gambled was considered to act in a morally wrong manner, while gambling itself was seen as a way to avoid tax collection and as a source of income for criminals. For these reasons, today’s gambling industry, comprising real money games and casinos, is governed and regulated by regulatory bodies. These regulatory bodies oversee all gaming types associated with money betting in a specific area or state, and promote the adherence to gaming laws specific for that area, as well as upholding in-game fairness and honesty.
The Malta Gaming Authority (MGA) and Alderney Gambling Control Commission (AGCC) are two such bodies regulating gambling in Malta and the States of Alderney respectively.
Before looking at the Alderney and Malta Gaming Authorities Ink Partnership, a brief description of each body is provided:
As the only regulatory body in Malta, a Southern European island country, the MGA holds responsibility in ensuring strict governance of all online and land-based gambling within the country.
Regulating gambling activities in Alderney, AGCC aims to promote fairness, transparency and honesty within online casinos and businesses, which offer services of the gambling kind. The commission also protects all members and players of online casinos.
Game-changing Partnership Revolutionises eGaming
After much discussion between MGA and AGCC, the two top online gaming regulatory bodies in the world, a Memorandum of Understanding, and subsequent partnership, has been confirmed in ink. The Alderney and Malta Gaming Authorities Ink Partnership is set to revolutionise online gaming by creating new standards and laws which are considered and upheld when establishing business-friendly online arenas and casinos across borders, as well as loosening restrictions between these borders where eGaming can be enjoyed and shared.
With gaming regulations generally specific to one particular geographical area, simultaneously denying other businesses or individuals in other areas to game or offer gambling products within that area, offshore regulating and jurisdictions are fast evolving into a more open concept to allow for more benefits. The Alderney and Malta Gaming Authorities Ink Partnership creates improved co-operation and relations between the two aforementioned bodies, which then betters the standard of gaming regulations between the locations and allowing for online gaming platforms to offer products in both areas. This means that multiple licenses are no longer needed for online casinos who wish to offer services in both areas.
Before players from Malta and Alderney where unable to gamble across borders, but with this combined partnership ultimately forming one governed area essentially, each can try out the eGaming world in the other state and now offer gaming services across borders. Another benefit is that each regulatory body can share and learn vital information from one another, making for an overall better eGaming environment for operators and players alike. Online gaming platforms who offer games in both Malta and Alderney will also have their taxes reduced instead of being double taxed, thanks to the Alderney and Malta Gaming Authorities Ink Partnership.
Hopefully A Movement Across The Globe
With Alderney and Malta being two small areas making one big move in creating a partnership, one can only hope that these types of partnerships between different regulatory bodies in different countries become more frequent. With partnerships such as these around the world, a smoother and more productive regulation of eGaming platforms and gaming businesses across borders will occur, benefiting the online gambling industry as a whole. With technology improving and the digital cloud space becoming more prominent on a worldly scale, multi-jurisdictional infrastructures and licences will hopefully become mandatory, thanks to the Alderney and Malta Gaming Authorities Ink Partnership.