Malta Gaming Authority revokes Tipbet Limited’s licence

The Malta Gaming Authority (MGA) has announced the revocation of Tipbet Limited’s license, effective 28th November 2023. The cancellation applies to the authorisation reference number MGA/B2C/303/2015, originally granted to Tipbet Limited.

Tipbet Limited is an online gaming company that provides a range of sports betting and casino gaming services, operating under an MGA B2C licence, offering a platform for customers to engage in various forms of online gambling. The decision to revoke its B2C licence is subject to appeal.

The MGA’s regulatory action, it said in a statement, was made in accordance with multiple sections of the Gaming Compliance and Enforcement Regulations, including regulations 9 (1) (c), (d), (i), (l), (m), and 10 (1) (a). The MGA has cited significant regulatory breaches as the reason for this action.

As a result, Tipbet Limited must immediately halt all gaming operations and stop registering new players. Existing players will be able to access their accounts solely for the purpose of withdrawing their remaining balances. Tipbet Limited is also required to refund all player funds in compliance with the Gaming Act (Chapter 583 of the Laws of Malta) and settle all outstanding fees owed to the MGA within five days from the effective date.

Additionally, Tipbet Limited must submit a comprehensive transaction report along with supporting bank statements within seven days to confirm that all player funds have been reimbursed. The MGA reserves the right to access and copy essential regulatory data from Tipbet’s systems if necessary.

The MGA has also instructed Tipbet Limited to remove any reference to the MGA and the authorisation from their materials, as stipulated in article 51 of the Gaming Act. Tipbet Limited has the right to appeal this decision under article 43 (1) of the Act.