On 20 May, the MGA cancelled the licence authorisation of TipBet Limited, reference MGA/B2C/303/2015.
Founded in 1995, TipBet is one of the oldest online sports betting firms, with its headquarters in Gzira, Malta. TipBet operates as a pan-European operator with a presence in the markets of Germany, Bulgaria, Macedonia, and Croatia.
The Authority used Section 9 of Malta’s Gaming Compliance and Enforcement Regulations to authorise the cancellation of TipBet’s licence.
The MGA’s order cited numerous Section 9 infringements as TipBet failed to comply with several regulatory obligations and discharge financial commitments of its operations.
The Authority believed that ‘failure of the operator was imminent’. TipBet also failed to meet commitments to players in a timely manner and did not pay amounts due to the Authority on time. The Authority determined that there was material and suffici..