Malta Gaming Authority Annual Report 2020The Malta Gaming Authority has just released its Annual Report 2020, and among the findings, requests for player assistance increased a whopping 58% on the year before!

The annual report was created to highlight the work the MGA has performed during 2020, and the level of performance the regulatory body has achieved in the same time period. The findings are compelling, especially when we consider the effects of COVID-19. 2020 was the year when the pandemic first hit, which meant more of us were trapped at home under lockdown restrictions, travel bans, and more.

For many, online gambling became an obvious release and something that could also bring in money too. It is believed the pandemic was the root cause of the 5,625 requests for assistance that the Player Support Unit received in 2020. This was up 58% compared to 2019. Additionally, the report revealed that the MGA took part in investigations that lead to the cancellation of 12 licenses, the suspension of 3 more, and the issuing of 69 warnings. The body also issued a total of 24 administrative penalties throughout 2020.

Alongside the UKGC, which just released a player rights page, the MGA is regarded as one of the strictest online gambling regulatory bodies in the world. In particular, the Malta Gaming Authority is noted for the player protection it provides. If the MGA deems a case valid, they will give players access to a full range of dispute and mediation services. This even applies to non-EU citizens, as under EU law, anyone that does business with EU-based business entities, is entitled to protection via consumer rights laws.

The following are the 12 online gambling entities that lost their license from the Malta Gaming Authority in 2020:

Playbay Malta Limited Global Gaming Entertainment Group Limited European Fantasy League Ltd
The Daily Fantasy Football Company Limited Pick Mister Limited Join Games Malta Limited
Fantasy Sports Limited bSupporter Limited Watch World Luxury Limited
Dorobet Limited Bimbabet Limited Knockout Gaming Limited

Other Annual Report 2020 Findings

Other key highlights from the long list provided in the Annual Report 2020, includes 8 individuals and/or companies being deemed unworthy by the MGA’s Fit & Proper Committee, and the MGA taking action against 10 adverts/promotions deemed inappropriate. In terms of anti-money laundering and combating the financing of terrorism, the Malta Gaming Authority took part in 27 separate examinations on online gaming licenses.

Additionally, as the MGA also regulates sports betting alongside online casinos, the report revealed many sportsbook related statistics for 2020. The most notable was the 168 requests for information related to the possibility of manipulation of sporting events that the MGA received, and the 288 suspicious betting reports submitted by online bookmakers.

With the increase of online gambling due to the COVID-19 pandemic, it was always expected that the MGA Annual Report 2020 would also witness increases across the board in terms of investigations, complaints, suspensions, and cancellations. However, the report does highlight the superb job that the MGA, and other leading regulatory bodies currently perform.

MGA Also Released its Audited Financial Statements for 2020

2020 is a year we will not forget for obvious reasons, however, for the iGaming industry, it proved to be the strongest yet. According to the financial statements, it had a growth rate of 15.3% in 2020, while the industry also had a GVA (gross value added), of €924 million. Over three-quarters of the growth rate sustained was generated through slot games. Table games accounted for the second-largest share with 17.4%, while other games such as live dealer games, video poker, and virtual sports accounted for the remaining 4.4%.

By the end of 2020, there were 323 gambling entities (online and offline), that held an MGA license. This allowed the authority to collect over €70 million in fees, taxes, and other contributions. Although primarily attributed to the pandemic, it is clear to see that the iGaming industry is consistently growing year on year. Even better, is the fact that authorities such as the MGA are doing their bit to keep it well-regulated.

Speaking about the MGA Annual Report 2020, and the audited financial statements, Carl Brincat, the current CEO of MGA, stated:

The year 2020 will undoubtedly be remembered for the challenges the pandemic presented us with, and I am proud of the Authority’s employees who worked tirelessly to ensure that we continued to perform the functions required of us at law.

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