Malta can be considered a pioneer in embracing the online gambling industry. It was one of the first countries to legalise and regulate this market. Currently, it’s regarded as one of the significant hubs of iGaming, where hundreds of online casinos have their licenses.
While traditional, land-based casinos are not that popular in Malta, with only four instances of these, online gambling with international reach is far more prevalent.
At this time, over 300 online gambling providers account for 10% of Malta’s overall GDP, each of them finding new ways of incentivising their customers with benefits like matched betting and no deposit bonus.
But how did Malta manage to become such an attractive location for gambling sites?
It had all begun in 2004 when Malta became the first European country to regulate iGaming. A government organisation called Malta Gaming Authority (MGA) took the challenge of establishing legislation for online gambling. While MGA wasn’t the first such an organisation in the world, it still was one of the major contributors to iGaming.
MGA has helped in monitoring the industry and provided online gambling providers with licensing. MGA also takes care of:
- protection of minors,
- guidance for anyone trying to found an online casino,
- security for players to ensure that their funds can be easily withdrawn and deposited,
- the integrity of games so that they’re based on fair RNG,
- investigation of complaints and the protection of player rights,
- protection against criminal activity.
While MGA doesn’t have the authority to return stakes that players have lost in a fair game, it can provide guidance and enforcement of paying player deposits back in case of any issues. Whenever there’s a dispute, and the casino doesn’t want to let the gamer withdraw their winnings for some reason, MGA can give a helping hand.
Currently, there’s a policy called the duty to care for operators that force the providers to monitor their customers’ gambling habits. This is to reduce the possibility of harmful, problematic behavior by reaching out to gamers in the case of potential addiction.
Many international online gambling providers have their servers situated in Malta, making MGA’s reach global. The number of licenses provided by MGA keeps increasing. Currently, over 500 casinos are operating under the permit of the Maltese organization.
Advantages of Maltese iGaming
Malta is a leader in terms of regulating online gambling for a number of reasons. These include:
Attractive tax rates and inexpensive licensing
Malta characterises by an attractive tax rate of just 5% for gaming. Another thing is that corporate tax is also at 5%, which is the lowest rate in Europe. On top of that, for anybody who decides to relocate to Malta, there are incentives in the form of tax planning programs such as High Net Worth Individuals Scheme and the Global Residence Programme.
Contrary to other popular licenses, such as The United Kingdom Gambling Committee’s license, MGA has a fixed price of €25,000 for B2C companies. A permit for controlled skill games is even cheaper at €10,000.
In fact, financing for innovative digital companies is a thing in Malta as well. If you deem your casino technology cutting-edge or prove that you will grow and provide employment, you might be eligible for funds.
If you decided to outsource your development to Maltese professionals, you can be sure that they will use cutting-edge technology for your platform. Additionally, the Maltese specialists have a lot of experience in the creation of online casinos like nobody else.
Companies like Microgaming and NetEnt are avid cooperators with Maltese developers. That way, you can ensure that all of the requirements for a license will be met and that your games will be fair and square.
Cheap labour cost
Apart from being highly-skilled developers, the Maltese services are also relatively inexpensive. Since the industry keeps growing at a tremendous pace, new professionals are being trained all the time, hence keeping the prices at an equilibrium.
MGA as one of the most respectable authorities
Malta Gaming Authority has a long-running tradition of being a top dog when it comes to the legislation of online gambling. Since 2004, more than 500 companies decided to put their trust in them and got a license there.
There’s an emphasis on security and law abidance. MGA’s authorities keep their fingers on the pulse in case of any illicit activities. The fact that Malta is a member of the European Union, certain safety measures also have to be followed, further reducing the chance of anybody getting scammed.
Maltese online casinos are also free to provide services to European countries without hassle.
Maltese landscape is nothing short of stunning, attracting multiple online casino owners to move there and run their businesses from the country.
Additionally, the living standard in Malta is among the highest in the world. The economy is incredibly stable, with iGaming accounting for 10% of the overall revenue. Since this industry is growing rapidly, there’s nothing to worry about.
Seeing that iGaming is such a major part of Maltese culture, the professionals behind it are nothing short of amazing and entirely dedicated to the cause. It’s one of the quickest-growing industries in the world, so it’s only fair that these guys will take their jobs seriously.
Home to the largest iGaming events
There are a lot of events taking place in Malta. NEXT is an event comparable to TEXxTalks; only it’s about online casinos. Operators and providers from all over the world attend the event to learn about new technology and approaches.
iGaming Idol is an annual award ceremony for individuals that contribute the most to the iGaming industry.
Sigma iGaming Malta has been named as the best iGaming festival in the world, where leaders talk about the use of new solutions.