The Lotteries and Gaming Authority would like to introduce a mandatory insurance premium for remote gaming companies, which would be used in case of problems.

Although there is a player protection scheme, LGA head Joe Cuschieri pointed out that in the past, a particular case had shown that it might not provide timely solutions.

Poker site Everleaf went bankrupt in 2012 and the police issued an international arrest warrant for the owners, so the company funds could not be released. Although the players will eventually be compensated, this will not be until the judicial process is completed.

“I am very frustrated about it. My hands are tied to a certain extent because the police investigations are underway. They have interrogated some people but nothing concrete has yet come out of it. I cannot unilaterally pay as it would set a precedent. It would be assumed that site owners can default and leave the LGA to clear up the mess,” he said.

“We are now working on having some sort of insurance premium that the operators would pay as part of their obligation, with the LGA as the beneficiary so that if an operator defaults or runs away with the money, the players will get – if not all – then at least a substantial part of their money from us.

“These policies are very complex but they are already available from both local and foreign insurance companies,” he said.

“Today, operators must have a bank account into which enough funds are placed to safeguard punters’ money. But I don’t think it is an instrument that really guarantees punters’ interests. And we will also be carrying out an audit of all the bank accounts to make sure that there actually are sufficient funds.”