Malta Has Emerged As The iGaming Capital Of The World
Over the last couple of years, Malta has emerged as the iGaming capital of the world and in 2018 it has consolidated its position. There is serious competition from other strong gambling markets, including the one in UK, which also has the advantage of a huge player base. However, Malta has remained at the top of both online and conventional gaming, with thousands of people employed in these industries. Its multibillion dollar industry is steadily growing and the trends don’t show any signs of slowing down.
Great Licensing System for Online Casinos
There are a couple of reasons for why the small island in the Mediterranean Sea has emerged as a hub for online gambling. One of the main arguments in choosing this country is that the regulatory body here is one of the most respected in the world. The Malta Gaming Authority has created the perfect environment for companies to license their activities and cater for an international audience. The licensing system for both online casinos and game developers is straightforward and aimed at protecting consumers.
Back in 2004, Malta was the first state in the European Union to take decisive actions in regard to regulating iGaming. This is how the MGA came to be and for nearly 15 years, it has compelled casinos to uphold the highest security and safety standards. At the same time, operators are highly motivated to acquire this license, which is among the most reliable in the online gambling industry. The casinos who choose to license their business here are usually the biggest and most serious operators.
In recent years, the popularity of Malta in the online gaming industry has led to a shortage of specialists. As the industry grows at a steady pace, there’s an obvious need for lawyers, developers and accountants. Local universities, try to provide the specialists and they are mildly successful, but for the time being it looks like they have a hard time keeping up with the accelerated growth of these industry. Outsourcing is the obvious solution and the Maltese economy also benefits from an influx of foreign specialists.
Low Taxes Draw Casinos to Malta
Not surprisingly, the strongest incentives are provided by the Maltese tax system, which is transparent and favorable to Mobile Slots UK providers. There are different classes of gaming licenses awarded in this country and the taxes differ accordingly, but they are still among the lowest worldwide. There are further incentives for the employees of online gambling groups who choose to relocate in Malta and work here.
Low taxes, a strict but fair regulatory system and an abundance of specialized workforce are the main reasons for why Malta is the new iGaming hub. Then again, the sunny weather and the sheer beauty of the island, as well as the young population are also compelling arguments. The gambling industry continues to grow and even though many countries provide iGaming companies with strong reasons to relocate, Malta is likely to remain the first choice for most of them.