Differences between the AAMS and the Maltese Gambling License
Gambling, like every other industry, is a regulated industry with specific rules in place to ensure fair and transparent play. An operating licence is required for operators who want to legally offer gambling services in both the land-based and online sectors.
Under the gambling laws, several jurisdictions were established to provide licenses to companies that wanted to run gambling businesses. Each regulatory body has its own legislative framework, which means they have different responsibilities depending on the country, but their common duty is to license and supervise licensees' continued suitability.
On the gambling market, the Malta Gaming Authority (MGA) and the Agenzia Dogane e Monopolio di Stato (AAMS) are two well-known license names. Because selecting the appropriate license can be a difficult task, here is a comparison of these two licenses.
The Agenzia delle Dogane e dei Monopoli, or Autonomous Administration of State Monopolies, is a powerful body in Italy that regulates the tobacco industry, customs relations, and gambling operations. It was founded in 1999.
The regulatory body has the authority to issue appropriate licenses to gambling operators operating in the country, both in the physical and online realms. Apart from regulating non-AAMS bookmakers, the government agency is also in charge of game taxation, which includes taxing both operators and players as well as determining the cost of license fees.
Sports betting events, casinos, games of skill, bingo, horse racing, and poker games are just some of the gambling activities that can apply for licenses. With the rapid growth of gambling activities, AAMS or ADM regulates and supervises the industry by imposing penalties on operators who violate license conditions.
AAMS licence cost
In comparison to other countries, the AAMS gambling license is extremely valuable. The cost of obtaining a license varies between €50,000 and €350,000, depending on the type of gambling activity you want to operate. Businesses can provide their gambling services for up to nine years under Italy's gambling law and regulation.
The AAMS Licence's Key Features
Requirements for substantial deposits
AAMS licensees are required to deposit a substantial sum of money. As a result, if the gambling company decides to close, players who have accounts with the company will be refunded.
Difficult KYC procedures
The regulator requires new members to set up rigorous KYC sessions. This method is used to keep track of all players and prevent fraud in the online gambling market in Italy.
The Malta Gaming Authority (MGA) was established in 2001 when the Maltese government passed the Lotteries and Other Games Act. The powerful jurisdiction was previously known as the Lotteries and Gaming Authority, or LGA, and it has since grown to become one of the most well-known regulatory bodies not only in Malta but also worldwide.
Several global gambling industries, software providers, poker rooms, casinos, and bookmakers prefer to trust the MGA because it is well-known for its effective policies to prevent various unfair gambling practices.
Obtaining permission within the jurisdiction of Malta is dependent on the activity that the operators wish to engage in, but they must first meet certain requirements. In fact, the applicants must have sufficient financial resources to operate their businesses. They must also possess expertise in the activities they wish to conduct in order to provide excellent service.
MGA licence cost
To obtain the MGA license, similar to the well-known gambling regulatory body, several payments and taxes must be made. In fact, in addition to the €25,000 license fee, applicants must pay €2,300 to have their application processed. They must also pay a €1,500 license renewal fee.
The MGA Licence's Key Features
Regular law updates
One of the reasons that gambling operators prefer the MGA license is that its gambling regulations are updated on a regular basis. The laws were clearly enforced in order to treat customers fairly and transparently.
Protection of the consumer
Any gambling establishment that has received a license from this regulatory body must put in place measures to ensure that consumers are well protected. The Crucial Player Protection (CPP) system, for example, was created to promote responsible gambling and better protect vulnerable players.
MGA is a powerful organization in Europe and around the world that focuses on protecting the rights of all players who fall under its jurisdiction. The regulations in place within this regulated gambling market ensure that those who choose licensed platforms will be protected by the same laws and rights.
By fLEXI tEAM
*DISCLAIMER: This article and its publication are intended to provide a brief introduction and act as a general guide. This is provided for information purposes only and cannot be utilized as a substitute for professional advice. This document does not represent a legal opinion and one must not rely on it without receiving independent advice based on the particular facts of its own case. No responsibility is accepted by the author or the publishers for any loss suffered from acting or refraining from acting based on the contents of this publication.
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