The Malta Gaming Authority (MGA) has announced the revocation of Tipbet Limited’s gaming license, effective November 28, 2023. This action mandates an immediate halt to all gaming operations by Tipbet.
According to the MGA, Tipbet must immediately stop all gaming activities and cease registering new players. The company is required to allow current players to access their accounts to withdraw remaining balances. Compliance with the Gaming Act (Chapter 583 of the Laws of Malta) is mandatory, ensuring that all player funds are refunded appropriately.
Tipbet also has to settle any outstanding fees with the MGA within five days of the cancellation. Furthermore, a detailed transaction report from Tipbet’s back-end system, supported by bank statements, must be submitted within seven days to confirm all player refunds.
Regulatory Compliance and Appeal Process
The MGA reserves the right to inspect Tipbet’s facilities to retrieve regulatory data as specified in the Gaming Definitions Regulations (S.L. 583.04). Additionally, Tipbet must remove all references to the MGA and its authorization from its website and marketing materials, as per article 51 of the Gaming Act.
This decision is subject to appeal under Article 43 (1) of the Gaming Act.
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