Gaming License Comparison: Malta MGA vs Curacao vs Gibraltar 2026
Malta remains the gold standard for EU-facing operators. Curacao reformed its regime. Gibraltar offers UK adjacency. The right choice depends on your market strategy.
The online gambling industry continues consolidating around a handful of licensing jurisdictions. Malta's Gaming Authority (MGA), Curacao's reformed framework, and Gibraltar's Gambling Commissioner represent three distinct approaches with different costs, timelines, and market access implications.
Malta Gaming Authority (MGA)
The Malta Gaming Authority has licensed online gambling since 2004 and remains the most recognized iGaming regulator globally. An MGA license signals credibility to players, payment processors, and affiliate partners.
License types: B2C (operating games to players) and B2B (providing platform/games to operators). Most operators need B2C for casino, sports betting, or poker.
Capital requirements: EUR 100,000 minimum for B2C operators, held in a Malta bank account throughout operations.
Application process: Comprehensive due diligence including source of funds, UBO verification, technical platform review, and game fairness certification. Timeline: 6-12 months for complete applications.
Costs: Application fee EUR 5,000, annual license fee EUR 25,000-35,000 depending on revenue bands, plus compliance costs (MLRO, local directors, registered office).
Market access: MGA licenses are accepted by most EU affiliate networks and payment processors. However, the MGA license doesn't authorize operations in locally-regulated markets (UK, Sweden, France, Germany) which require separate licenses.
Ongoing compliance: AML reporting, player protection measures, responsible gaming requirements, regular audits. The MGA actively supervises and sanctions non-compliance.
Curacao (Reformed Framework)
Curacao reformed its gambling legislation in 2023, replacing the old sub-licensing model with direct regulatory oversight. The Gaming Control Board now issues and supervises licenses directly.
License types: Single license covering all online gambling activities. No separate B2B/B2C distinction.
Capital requirements: ANG 500,000 (approximately USD 280,000) minimum capital, plus bank guarantees.
Application process: Streamlined compared to Malta but significantly tightened from the old regime. Due diligence now includes UBO verification, source of funds, and technical standards. Timeline: 3-6 months.
Costs: Application fee ANG 75,000, annual fee ANG 150,000, plus local substance costs (office, staff, directors).
Market access: Curacao licenses face restrictions with some EU payment processors and affiliate networks. The reputation is improving but hasn't reached MGA levels. Primarily used for markets without local licensing (Latin America, parts of Asia, some African countries).
Ongoing compliance: Regular reporting, AML requirements, player protection standards. Enforcement has increased significantly under the new framework.
Gibraltar
The Gibraltar Gambling Commissioner offers licenses recognized by UK players and payment processors despite Brexit. Gibraltar-licensed operators can target UK customers through the "white list" arrangement.
License types: Remote gambling licenses covering casino, betting, poker, and bingo. B2B and B2C available.
Capital requirements: Determined case-by-case but typically GBP 100,000+ for B2C operators.
Application process: Thorough due diligence with particular emphasis on UK market compliance. Timeline: 6-9 months. Gibraltar is selective and doesn't license everyone who applies.
Costs: Application fee GBP 2,000, annual fee GBP 40,000-100,000 based on revenue, plus local presence costs. Gibraltar is expensive but charges correlate with regulatory quality.
Market access: UK market access is the primary advantage. Gibraltar licenses are well-regarded by UK payment providers and affiliate networks. Less useful for non-UK European markets.
Which to choose
Choose Malta if: You want the most recognized license, target EU players (outside locally-regulated markets), need affiliate network acceptance, and can budget 6-12 months plus EUR 150,000+ for year one.
Choose Curacao if: You target markets without local licensing requirements, need faster time to market, accept some payment processor limitations, and want lower ongoing costs.
Choose Gibraltar if: You specifically target UK players, want premium regulatory status, can handle higher costs, and need UK payment processor acceptance.
Many established operators hold multiple licenses: MGA for EU credibility, UKGC for UK market, and sometimes Curacao for rest-of-world operations. The multi-license approach is expensive but provides maximum market coverage.
