In Malta, the iGaming sector has exploded rather spectacular in the twenty-first century. Malta is becoming a top iGaming hotspot thanks in great part to its creative and strong gaming architecture developed in 2004. Recognised as a flagship institution in the international gaming sector in Malta, the Malta Gaming institution (MGA) guarantees a well-regulated and vibrant market.
Malta became the first EU member state to control remote gambling with the implementation of the Remote gambling Regulations in 2004, therefore establishing the basis for Malta’s current vibrant iGaming. The revised and all-encompassing Gaming Act took over from the first rules in 2018, therefore bolstering the Malta iGaming sector even more.
Over the years, the fast expansion of the iGaming sector in Malta has drawn many investors and participants. iGaming businesses in Malta are positioned to take use of the several benefits the nation presents as fresh prospects present themselves, from regulatory backing to a trained personnel.
This paper offers a perceptive summary of the iGaming sector in Malta, stressing its advantages, business prospects, and the part iGaming advisory plays in Malta for businesses looking for success in the ever-changing gaming scene there.
What is iGaming?
In Malta, online gambling is the general word used to describe persons utilising the internet to place bets or wager, including several kinds of games. Midway through the 1990s, the first online gambling website surfaced. Regarding iGaming in Malta, this covers internet poker, online casinos, online sports betting, online bingo, lotteries, and mobile gambling. For those who prefer traditional gambling in Malta, numerous physical casinos are located across the island.
The Growth of Online Gaming in Malta
Malta has seen notable economic progress with the fast expansion of the online gambling sector there and the issuing of gaming licenses to internet companies.
Together with the Income Tax Act created especially for foreign businesses, the legislation makes Malta a very appealing location for iGaming enterprises.
The Role of iGaming in Malta’s Economic Growth
Maltese Finance Minister Tonio Fenech claims that iGaming companies in Malta hired over 2,500 people and produced more than 15.6 million euros in tax income in 2008 during a 2009 gaming conference. This figure, which is 35% more than last year, demonstrates the consistent expansion of the iGaming Malta market.
Furthermore, gambling Maltasector has helped to explain the notable rise in the country’s foreign population over the years.
Malta’s Lotteries and Gaming Authority
Created in 2002, the Lotteries and Gaming Authority (LGA) controls Malta’s online gambling sector. Including casino gaming, commercial bingo games, commercial communication games, remote gaming, sports betting, the National Lottery, and non-profit games, the LGA controls all gambling activity in Malta. The LGA watches for money laundering and other criminal activity, guarantees that every game is fair, and forbids cheating. Gamblers who feel abused by a casino can report the matter to the LGA, which will then handle it.
Under licenses granted by the LGA, the Malta iGaming sector runs under individuals or businesses proving the required business capacity to run a profitable betting activity. iGaming companies in Malta have four kinds of licenses:
- Class 1: Casino-style games, lotteries, and slots;
- Class 2: Sports betting;
- Class 3: P2P, betting exchanges, skins, tournaments, and bingo;
- Class 4: Software vendors earning commission on wagers.
These licenses are issued for five years and can be renewed for additional five-year periods.
4 Reasons Why iGaming Thrives in Malta
Malta’s Location: A Key Strategic Asset
Malta’s iGaming sector’s success may be mostly ascribed to its advantageous position. Nestled in the junction of Europe, Africa, and the Middle East, the island has extraordinary access and connection. Its time zone-friendly operations support quick procedures, flawless worldwide cooperation, and ongoing corporate interaction. Malta’s proximity to important markets gives it a perfect base for iGaming businesses hoping to grow internationally, so they may react fast to changing industry trends.
A Skilled Workforce and Strong Education System
Malta’s highly skilled and multilingual workforce is vital for the expansion of the iGaming sector here. The nation has substantially committed in educational initiatives catered to industry needs and in training programs. Offering courses in gaming, technology, and business management, universities and other institutions provide a consistent supply of competent experts for iGaming firms in Malta.
The Impact of EU Membership and the Euro
The iGaming sector in Malta has profited much from Malta’s membership in the European Union and strategic Mediterranean location. Membership of the EU guarantees that Malta’s iGaming businesses can run under single market ideas throughout Europe, therefore offering access to a sizable and lucrative customer base.
Malta’s Favorable Regulatory Landscape
Another key factor in the success of the gaming industry Malta is its strong regulatory framework. The Malta Gaming Authority (MGA) supervises all gaming activities, guaranteeing a fair, open, safe surroundings for operators and players alike. For iGaming businesses in Malta, the MGA’s reputation for being strict yet adaptable appeals.
Final Thoughts
In Malta, the iGaming sector presents interesting employment prospects and a lively way of life. Understanding the business, becoming ready for the workforce, and appreciating Maltese culture will help you maximise your time in this fast-growing field. Whether you’re just starting out or advancing your career, the Malta iGaming industry provides a unique blend of professional growth and personal fulfillment.
Get in touch with SEO.Casino today and take your iGaming business to the next level.
