Why a Malta Gaming licence is the best choice for online casinos in New Zealand

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New Zealanders love to play casino games, especially online pokies. There are only a handful of land-based casinos in New Zealand. However, the best selection of pokies can be found on online casino sites. Not only that but it can also be more cost-efficient to play online. All one has to do is check the recommended low deposit casinos on Wageringadvisors.co.nz and find the operator they like based on reviews. Wagering Advisors are trusted gambling experts and they only recommend sites that are safe to use.

One way of evaluating the overall safety of the site is by looking into its licence. Brands that comply with multiple regulators and adhere to multiple licensing standards are a safer choice. If you and their list of best paying NZ online casinos, you will find that a lot of these operators are licensed in Malta. Here we will discuss why MGA or Malta Gaming Authority is the best choice for online casinos that accept players from New Zealand.

Online casinos in New Zealand

New Zealand’s gambling commission doesn’t allow for local businesses to offer online casino games. That being said, it’s perfectly legal for Kiwis to play online. The problem with this arrangement is that the sites that are available aren’t regulated by the local authority, so the consumer protection laws won’t apply.

Playing on a site that is regulated by a foreign strict commission is like the next best thing for Kiwis. They know which brands to trust and that those brands are committed to responsible gambling and user safety. MGA licence is respected in multiple geographies and it’s one of the reasons why online casinos managed to become such a big trend in the first place.

Casinos licensed by MGA

Shortly after it joined the EU, Malta started working on a regulatory framework for licensing of online casinos. This attracted many foreign businesses that wanted to enter this market as soon as possible. As a result, there are dozens of high-end brands that are based in Malta.

MGA was established with the goal of addressing some of the big concerns that plagued the online casino industry. Crimes, scams, money laundering, corruption, and exploitation of vulnerable players. This is why they have rigorous evaluation standards, and they audit the companies regularly in order to renew their licence.

MGA licensing requirements

As stated, MGA has some strict licensing requirements that ensure player safety. To that end here is an overview of what an operator has to submit just to apply for the licence:

• A document detailing their policies or terms of service that players agree to.
  • Applicants also submit an LCCP document that showcases all of the company’s policies not just the terms for users. 

• Their financials, which include net profit, losses, and future projections. This is done to ensure winnings or big payouts can be covered.
  • They also expect audit reports from the company’s auditors

• Transparent ownership structure, and company structure that details the responsibility of employees 

• List of software suppliers that ensures the games have been audited and certified for fairness.
  • They also expect a clear list and description of available games.

• Copies of other licences that show good standing with different regulatory bodies.

This gives more context to the fact that many NZ online casinos use similar software providers. These are all professional tech companies that are behind some of the most played online slots, and they have been all certified and awarded for their achievements. 

Safety features at MGA casinos

Players that browse MGA-licensed operators will notice that all of these sites have a few things in common. First, they are all proponents of responsible gambling, and they advise their players to be cautious with their spending. Additionally, MGA has a unified self-exclusion system so players that don’t want to be tempted by this content can apply.

The second thing these sites have in common is SSL encryption. This means that the sensitive data on the site is protected. That being said, players are always cautious and prefer to use e-wallets or other payment methods that don’t directly link to their bank accounts. Almost all of the MGA operators have a diverse payment solutions list that players can use for deposits and withdrawals. 

The third thing that these sites have in common is user verification. The terms and conditions dictate that players need to be old enough to gamble. Moreover, the operator needs to do due diligence to verify the identity of the player and their location. One reason for this is to prevent money laundering.

Finally, operators need to maintain separate accounts for company funds and player funds. This puts players at ease, as their funds are always accessible

Conclusion

MGA wasn’t just the pioneer in online gaming regulation, they also set a standard for everybody else. This is why online casinos in New Zealand are safe, even if they don’t answer to the local government. Of course, players need to be disciplined and carefully manage their spending. Even regulated games still favour the house, and the odds are stacked against you. Therefore, only play for fun, and never view online casinos as a reliable source of revenue.