Playboy has Lost the Betting License from MGA

Gaming Authorization of Playbay Malta Limited has been canceled by the Malta Gaming Authority (MGA). It happened as the authority found the deficiencies regarding the system as the authority identified lately. Due to the violation of the systematic protocol, and the betting operation it has been stopped. The CFT or AML obligations must be adhered to greatly by the company.

Reasons for suspension

The B2C service license of Playbay has been suspended, and the authority has no plan to return that again. To carry out the operations regarding gaming, the company is no longer authorized. To keep registered to all the people to the accounts, the company has given access. But no one will be able to deposit money in the account. Refunds can be got with the implementation of the laws.

Knockout Gaming’s license was canceled in September 2020, and the same thing happened with BetElephant’s license and with Pick Mister’s license in March. Watch World Luxury, which is a retailer based in Malta, has also lost its license from MGA. It used to offer peer to peer gaming and prize draw for the watches on Social Media.

But the illegal activities which are done by the gambling companies were revealed in 2019 by MGA. 11 licenses were canceled at that moment, and later in June 2019, other seven companies lost their membership as licensees.

A consultation team has been made to report the suspicious betting activities in May 2020. The main purpose is to prevent illegal betting activities and the exploitation of the operators.

From now, every licensee is bound to report their activities and the user profile of the players to reduce the involvement of the Mafias. It was found that Mafias are using the casinos as their ATM, and Italian police are working to prevent their omnipresence in the betting to a great extent.

Vincenzo Davari, a writer on Sweden's best online casino, is a reporter by profession, but a learner by nature who provides informative news regarding casinos and gambling. When he gets free time, he loves to travel and explore the unknown. His diligent work helped him to get the Journalist’s Award twice.