Despite having a population of just over half a million people, Malta is a massively influential player in the global iGaming industry. Today, it’s responsible for licensing and regulating many of the best online casinos, and it’s also home to a huge number of major iGaming developers and operators.
The Maltese Government embraced the iGaming market at exactly the right time. Since the first online casinos launched in the 90s, people have been playing slots and table games online for real money. However, these early sites were difficult to use and often unsafe due to a lack of clear regulations. By introducing clear and stringent regulations that were aimed at protecting players, Malta made online casinos safer and more accessible while also benefiting from the growth of this new industry. Players can find the best online casino Malta sites at online-gambling.com/malta/. All sites are reviewed by experts and have the MGA seal of approval, meaning they’re safe to use. Like all online casinos in Malta, they offer lots of exciting games and great bonuses.
The beginnings of iGaming in Malta
Malta wasn’t always considered the capital of the iGaming industry. Prior to the 2000s, the island mostly relied on tourism as the main driving force of its economy. When online casinos first launched around this time, the government of Malta saw an opportunity. At the time, iGaming was still in its infancy, but with technology developing rapidly, it was clear that online casinos could become the next big thing.
The government of Malta established the Malta Gaming Authority to create new regulations that would govern iGaming sites. This organisation sought to establish clear and sensible laws which would not only protect players but also encourage iGaming companies to develop and innovate new ways to play. As a result, the first Malta online casinos were launched.
Aside from creating the Malta Gaming Authority and regulating online gambling sites, Malta also set up new laws to encourage iGaming operators to move to the island. Tax incentives helped incentivise big companies like Betsson, GVC and Kindred to open up offices on the island. Now, the island is home to some of the biggest iGaming operators, and it’s also attracted secondary industries in data and technology.
How the iGaming industry has benefitted Malta
While many residents in Malta had previously relied on tourists to make money, the advent of the iGaming industry has helped the island thrive and prosper. Unlike tourism, iGaming isn’t seasonal, so there is work all year round. The favourable tax laws have attracted big casino and sportsbook operators, bringing in new employment opportunities and online casinos Malta.
Aside from directly benefitting those who work in iGaming, the island has benefitted much from the development of this new industry. The effects can be seen all over Malta, both in the number of businesses and the investment into social programs like education and hospitals. In addition, the growth of the iGaming sector has led to new opportunities for other businesses.
As the iGaming industry has grown, the demands for improved technology have too. Malta is now home to thriving technology and data analytics industries, which have developed due to the demands of the iGaming operators. Businesses operating in these sectors benefit from an established and professional workforce.
Why Malta’s location matters
The best online casinos in Malta accept players from all over the world, offering thousands of games to all players. The position of the Maltese government isn’t the only thing that has helped this island become the centre of the world’s iGaming industry. Its location is also a major factor in the growth of its iGaming industry, especially in relation to Europe.
Malta is part of the European Union, and this has helped it attract its workforce from across the continent according to McKinsey. It’s also a highly favourable location in terms of weather, with the mild winters and sunny summers attracting business leaders as well as tourists. This has seen the online casino in Malta industry benefit from the best talent in Europe.
Aside from the weather, Malta’s location puts it in the perfect spot for iGaming operators looking to enter the European markets. Online gambling is huge in Europe, with casino players and bettors in Germany placing millions of Euros worth of bets every day. This close proximity to key markets has made Malta the perfect spot for the iGaming industry to grow.
The future of iGaming in Malta
While Malta is the centre for iGaming, it’s not the only jurisdiction that licenses and regulates online gambling. The island had the advantage of being one of the first, and it’s still the best in terms of its connection to the lucrative EU market. Malta online casino sites have the reputation of being among the best in the world.
Still, it faces competition from other countries, such as Curacao. It also facing legal challenges from countries which assert that it shouldn’t be able to provide offshore gambling sites to service customers in jurisdictions that had no regulation for online gambling or held a monopoly on operators.
Malta has also benefitted significantly from embracing the iGaming industry, but it needs to stay ahead of trends like ESG. You can read up more on ESG and how it affects the iGaming industry at iGamingCapital.mt.
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