Malta Gaming Authority cancels Tipbet Limited’s license, orders immediate suspension of operations

The Malta Gaming Authority (MGA) has announced the cancellation of the authorization issued to Tipbet Limited, effective November 28, 2023.

This decision, in accordance with regulations 9 (1) (c), 9 (1) (d), 9 (1) (i), 9 (1) (l), 9 (1), 9 (1) (m), and 10 (1) (a) of the Gaming Compliance and Enforcement Regulations (S.L. 583.06), mandates that Tipbet cease all gaming operations immediately.

The cancellation notice directs Tipbet Limited to suspend all gaming operations and stop registering new players. The company must also allow existing players to access their accounts to withdraw outstanding balances. 

Tipbet is required to refund all player monies to legitimate players in compliance with the Gaming Act (Chapter 583 of the Laws of Malta) and associated regulatory instruments.

Additionally, Tipbet must settle all outstanding fees owed to the MGA within five days from the cancellation date. The company is also required to submit a transaction report from their back-end system, accompanied by supporting bank statements, to confirm that all player funds have been duly refunded. This report must be submitted within seven days from the effective date of cancellation.

The MGA reserves the right to request access to Tipbet's facilities to extract and copy relevant regulatory data as defined in the Gaming Definitions Regulations (S.L. 583.04).

Tipbet must also remove any reference to the MGA and its authorization from its website and branding, in accordance with article 51 of the Gaming Act. The decision to cancel Tipbet’s license is subject to appeal under Article 43 (1) of the Gaming Act.