Definition: iGaming is defined as placing a bet on the outcome of an event or game online, and these activities include poker, sports betting, online casinos with the largest share of the market being taken up by sports betting and online casinos.
Why Is The iGaming Industry So Successful In Malta?
Malta doesn’t play when it comes to iGaming. The country legalized it almost 20 years ago, solidifying its place as a world leader in the industry. Since then, the iGaming sector has accounted for more than 10% of Malta’s GDP, resulting in at least a billion Euros flooding into the island each year.
More than 300 iGaming companies call Malta home. Almost 10, 000 employees clock into these companies every day. Considering how it’s one of the smallest countries in the world, these numbers can come as a shock to any outsider.
How did the industry get so big in Malta? Surely it can’t be the warm weather and sparkling beaches that attract companies like Britain’s PlayFrank? What cards does Malta have up her sleeves? What’s the secret to her iGaming success? Read on to find out.
Lax Laws and Tax Wars
There aren’t many countries in the world that regulate the activities of gambling operators. With a Malta Gaming License, a company can find itself in a legal haven where incentives are up for grabs and expansion is encouraged.
The taxes are low, the fees are beyond reasonable and the country is open to foreign investment, especially when it comes to fast-growing industries like iGaming. The ease of doing business in Malta is unparalleled, why else would Swedish online slot developer NetEnt set up shop here?
Government support for the industry is overwhelming. Regulators have setup a non-profit organization in collaboration with the Malta Gaming Authority. The foundation’s mandate is to promote Malta as the ultimate gaming hub and suffice to say, it’s doing a pretty good job of that.
The organization also cooperates with the authorities to create an ideal environment for the industry. With the government working hand-in-hand with businesses in this regard, it’s no surprise that Maltese gaming is going from strength to strength.
Malta’s unemployment rate is impressively low, and there’s no doubting that the iGaming industry has something to do with that. From web developers to graphic designers and even marketing and management professionals, there are jobs for everyone.
Fintech companies and law firms specializing in gambling; they’re all rolling in that iGaming money as well, since there’s a serious spillover of business from the fun and games in the industry.
Keep in mind that Malta is a melting pot of cultures and nationalities. There’s a wealth of diversity expressed in experienced and educated personnel from all over Europe and the world, which means that all kinds of professionals can find work in iGaming.
This allows for the job market to breathe, making sure everyone gets an opportunity to advance their career, regardless of whether they know any programming language.
The Maltese Lifestyle
Part of the reason Malta is so successful in iGaming has to do with how things work on the island. It’s easy to find something to entertain you in Malta, getting around is a breeze and when it comes to connectivity, Malta is unmatched.
The low crime rate makes it one of the safest places to start a business and advanced technical infrastructure makes it ideal for such a technology-centered industry.
Malta has the world’s largest online casino live sets, the world’s leading casino solutions provider and major iGaming events like SiGMA. This results in industry experts, iGaming fanatics and businesses flocking in to get a piece of the iGaming pie.
The tourism appeal that Malta has allows for the leveraging of the tourism industry to boost the iGaming sector, I mean who doesn’t want to be part of something exciting while on vacation?
It’s an exciting time for Malta, and an even more exciting one for iGaming. The industry is only expected to grow in the next few years. From legal reform to infrastructure, events management and various government incentives, we’re sure to see the industry accommodated even more on our little blip on the map. Who doesn’t want that?
There you have it; Malta’s secrets to a thriving iGaming industry. You know what they say about all work and no play, and since the Maltese are far from dull, you can tell they work hard and play hard, and they play for keeps too.
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