Malta Regulator Revokes Tipbet’s License

The Malta Gaming Authority (MGA) has revoked the gaming license of Tipbet, effectively halting all the company’s operations. This decision impacts authorization number MGA/B2C/303/2015 and reflects the regulator’s increasingly harsh stance towards companies that do not meet their licensing obligations. 2024 has seen the MGA strip several offenders of their licenses as it adopts a much more proactive stance amidst rising criticism.

The Regulator Remains Committed to Player Safety

Effective immediately, Tipbet is required to suspend all gaming operations. Such a development means no new players can be registered, although existing players will still have access to their accounts to withdraw any outstanding balances. The MGA has mandated that Tipbet must reimburse all legitimate players in strict adherence to the Gaming Act (Chapter 583 of the Laws of Malta).

According to the regulator’s decision, Tipbet must also settle any outstanding fees owed to the MGA within five days from the effective date of the license cancellation. Furthermore, the operator is required to submit a detailed transaction report to the MGA within seven days. This report, supported by bank statements, is to confirm that Tipbet has returned all player funds.

As specified in Malta’s Gaming Definitions Regulations (S.L. 583.04), Tipbet must grant the MGA access to all necessary facilities to extract and copy essential regulatory data. Effective immediately, Tipbet must remove all references to the MGA and its authorization from its promotional and operational materials to avoid misleading prospective players.

This Development Is a Substantial Blow for the Operator

Tipbet primarily targeted the German market and has been active for over 20 years. The company differentiated itself by offering customers free sports live streams and statistics. In addition to its online business, the operator supported several franchised physical betting shops. High-profile partnerships with leading German soccer teams further bolstered the company’s footprint, making the license revocation all the more surprising.

While the MGA’s decision is final, Tipbet retains the right to appeal under Article 43 (1) of the Gaming Act. However, past precedent has demonstrated that such efforts are rarely successful. The regulator did not specify the reason for the revocation, but such drastic action usually follows a failure to comply with one or more licensing obligations.

For Tipbet, this development marks a significant operational halt, compelling the company to focus on compliance and ensuring all players are reimbursed promptly. The coming days will be crucial for the company as it navigates the requirements set forth by the MGA and evaluates its next steps in light of the license cancellation.