Malta New Bingo Hotspot

Internet bingo sites are licensed in many jurisdictions and to operate in the UK an internet bingo provider must be licensed in a jurisdiction approved by the UK. In the UK internet bingo regulations are a part of the Gambling Act of 2005. According to the Gambling act internet bingo sites fall under the sections of the act that refer to ‘remote gaming.’ Licensing countries must be on a ‘white list’ that the UK maintains. Only internet bingo providers licensed in countries on the ‘white list’ may advertise in the UK.

Two of the most common licensing jurisdictions for UK internet bingo operators are Malta and Gibraltar. An internet bingo provider licensed in either of these jurisdictions would be subject to all applicable laws of that country. These rules are designed to make internet bingo a safe form of entertainment for UK residents. The law gives the UK government a useful tool to deal with rogue bingo operators.

Malta has become a popular licensing jurisdiction for internet bingo companies. Malta provides a cost effective solution for internet bingo companies doing business in lucrative UK bingo market. In Malta internet bingo is treated as a serious business although the regulations are somewhat flexible. The low tax rate also makes Malta attractive for internet bingo providers.

Licensing requirements in Malta are strict and require the presentation of a business plan, company profile, and personal data on all persons owning 5% or more of the company. Gaming licenses are issued for five years and cost about $8100 USD per year. Malta has excellent internet resources, a skilled workforce, and the positive business climate makes Malta attractive to internet bingo providers.

Internet bingo players playing on a Malta licensed site can be assured that the website adheres to all Malta regulations and is safe and secure. Malta expects an influx on internet bingo providers seeking to take advantage of the opportunities offered by the European internet bingo market. In addition the US may soon legalize online gaming and the internet bingo industry is ready. The competition for new players is keen and this competition has worked in favor of players in the form of bigger bingo bonuses, free play options and bigger jackpots. Malta based internet bingo sites will probably enter the American bingo market in the next two or three years. Malta has certainly come a long way since the days of the Knights Hospitaller in the 10th century!

By Anthony Wayne 2009 All rights Reserved.