There is no doubt that the online gaming industry is booming right now. With more online casinos expanding, providers launching games non-stop, and new platforms being developed, the iGaming industry appears to be in good shape. According to forecasts in an exclusive report by Acumen Research and Consulting, the online gambling market size will reach an estimated $172bn by 2030 — growing at an annual CAGR of 11.6% due to the rise of mobile gambling.
And Malta is the epicenter of it all.
Malta iGaming industry
The Malta igaming industry in Malta is one of its most thriving sectors, with gaming machines and betting available in almost every casino. It’s estimated that the industry generates around €1 billion annually for the country, with around 60% of that coming from online gaming. Malta has been a pioneer in the online gaming industry, with the first online casino opening in 1995. In recent years, the industry has seen explosive growth.
The industry is now worth an estimated €2.5 billion, and the Maltese government forecasts that it will grow even further in the next few years. The primary driver of this growth has been the increasing popularity of online gaming. In 2021, around 85% of all gambling activity took place online, up from just over 50% a decade earlier. This popularity has been partly fueled by the growth of casino resorts, which offer players more choices and better graphics.
9 reasons behind Malta’s astonishing growth
1. Government support
Malta has government support. The Maltese government has made a concerted effort to legitimize and legalize the gaming industry.
Gaming companies that have chosen Malta as their home base have found that the country is both accommodating and receptive to their needs.
Malta is a member of the European Union and the Schengen Zone, which means that the country has stringent laws surrounding online gaming and consumer protection
2. Clear and favorable tax regime
Malta has a clear tax regime for online gaming companies. These companies are taxed on their total worldwide income, regardless of where that income is generated. Malta is enhancing its competitive edge by becoming the taxation authority for the online gaming industry. The country also has a very favorable tax regime for the industry, which has made it a hugely attractive destination for gaming companies.
3. Strong regulations
Malta has a high level of regulation which also makes it a safe and comfortable environment for online gaming companies to operate. This is something that many international online companies appreciate, as it means that there are minimal risks involved. The Malta Gaming Authority (MGA) is the regulatory body for the gambling industry in Malta. The MGA licenses and monitors all casino operators, lotteries, and online gaming operators. The MGA is also responsible for the development and regulation of gambling products, including online gaming.
4. Skilled workforce
Malta has a highly skilled workforce. Around 60% of the population is educated to at least a tertiary level, which makes it a logical choice for online gaming companies looking for a dedicated, tech-savvy base of users. Malta is also home to numerous recruitment companies which are recruiting top candidates for various roles in iGaming.
5. Well-developed infrastructure
Malta is home to some of the best technological infrastructure in the world- strong Internet and telecommunications infrastructure, making it easy for gaming companies to set up their businesses and deliver on their promises to customers.
6. Site for major gaming events
In addition to advantages such as good infrastructure and an accommodating tax regime, Malta also offers gaming companies a competitive edge. The country is a popular location for gaming events like SIGMA 2022, international poker tournaments, and other massive events like iGaming Idol, which gives companies a valuable opportunity to attract new employees and increase their brand awareness.
7. English-speaking population
Malta is an island with a small population and its English-speaking status makes it an attractive destination for online companies that operate in the iGaming industry
8. Enthusiasm for online gaming
The high levels of online gaming activity in Malta also make the country an attractive destination for online companies that operate in the casino industry, promoting special casino bonuses and it’s a perfect destination if you like to gamble, play online or enjoy a live poker tournament.
9. Solid reputation
Malta has a long and established history in the iGaming industry and this has helped the country build a strong reputation for itself in the industry. This is what has drawn in a host of international online companies, who hope to benefit from the country’s growing popularity, location, and technical infrastructure.
Overall, Malta is a highly attractive destination for online companies looking to expand into the gaming industry by promoting casino bonuses and innovative products. The country has a stable government, great infrastructure, and a thriving economy, and this has made Malta a leading European digital destination, as the online gaming industry keeps growing.
The English-speaking island has a strong reputation for hosting fantastic gaming events and this is proving to be a major draw for both international gambling companies.