AAMS vs Maltese Gambling License
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Similar to every industry, gambling is a legalised sector with special regulations created to maintain fair and transparent gambling. The operators who want to lawfully offer gambling services in both land-based and online sectors require an operating licence.
Several jurisdictions were established under the gambling laws to supply licences to the companies that wish to run gambling businesses. Depending on the country, each regulatory body has its own legislative framework meaning that they have different responsibilities but their common duty is to license and supervise the continuing suitability of the licensees.
Malta Gaming Authority (MGA) and Agenzia Dogane e Monopolio di Stato (AAMS) are two reputed licence names on the gambling market. As choosing the relevant licence, can be therefore a confusing task, here is the comparison of these two licences.
About AAMS
Established in 1999, the Agenzia delle Dogane e dei Monopoli known in English as the Autonomous Administration of State Monopolies is a powerful body regulating the tobacco industry, customs relations, and gambling operations in Italy.
The regulatory entity has the power to issue appropriate licences for the gambling operators in both physical and online spheres who run their businesses in this country. Apart from regulating top non-AAMS bookmakers, the government body is also responsible for the game taxation sector by taxing both the operators and players as well as setting the cost of licence fees.
A number of gambling activities can apply for licences such as sports betting events, casinos, games of skill, bingo, horse racing, and poker games. With the dramatic rise of gambling activities, AAMS or ADM regulates and supervises the gambling industry by imposing penalties on the operators who have breached the licence condition.
How much does it cost to get an AAMS licence?
AAMS is a very valuable gambling licence to hold compared to other countries. Obtaining a licence varies from €50,000 to €350,000 depending on the gambling activity you would like to run. Under the Italy gambling law and regulation, the businesses can provide their gambling services for up to nine years.
Key Features of AAMS Licence
Large deposit requirements
The operators who are licensed by AAMS are required to deposit a considerable amount of funds. As a result, when the gambling company chooses to close, the players who have an account at the firm can be refunded.
The KYC procedures are hard
The new members are obliged by the regulator to set up tough KYC sessions. This approach is implemented to control all recorded players by preventing fraud in the Italy-based online gambling market.
About MGA
MGA stands for Malta Gaming Authority is an official gaming control board in Malta established in 2001 when the Maltese Government passed the Lotteries and Other Games Act. The powerful jurisdiction was previously called Lotteries and Gaming Authority or LGA and today, it has become one of the most popular regulatory bodies not only in Malta but also across the world.
Several global gambling industries, software providers, poker rooms, casinos and bookies prefer to trust MGA because this Malta gambling watchdog is well-reputed for its effective policies to prevent various unfair activities associated with gambling.
Getting permission within the jurisdiction of Malta depends on the activity the operators would like to operate but before everything, they must meet some requirements. In fact, the applicants must have enough budget to run their businesses. Then, they are also required to have skills in the activities they want to run so that they can provide an excellent service.
How much does it cost to get an MGA licence?
Similar to the renowned gambling regulatory entity, several payments and taxes must be paid to obtain the MGA licence. Actually, apart from a licence fee fixed at €25,000, a request for application processing requires the applicants to pay €2,300. They also must pay a licence renewal that costs €1,500.
Key features of MGA licence
One of the reasons to make MGA licence the first choice of the gambling operators is its gambling regulations that are regularly updated. The laws were obviously enforced to treat customers in a fair and transparent way.
Any gambling business holding a licence from this regulator authority must implement measures to establish a high level of protection for consumers. For example, the Crucial Player Protection (CPP) system was set up to enhance responsible gambling in order to better protect vulnerable players.
Recognised as an influential entity within Europe and around the globe, MGA focuses on protecting all players’ rights under its jurisdiction. With the regulations implemented within this regulator gambling market, those who choose the licensed platforms are ensured that they will be provided with the same laws and rights.
