iGaming makes up 12% of Malta’s economy. This is a huge amount for a relatively new industry. This industry has grown rapidly and received huge investment from all over the world in Malta. For this reason, Malta is seen as the iGaming capital and it is continuing to innovate; and hence the reason why Unibet and other renowned betting sitesall hold a gaming license from their regulatory body. Below are four key factors in the growth of iGaming in Malta.
Cryptocurrency and the blockchain
Cryptocurrency is growing in the gambling industry, and we are now seeing casinos that allow customers to gamble using cryptocurrency. Malta is leading the way in online gambling with the crypto world. The Malta Gaming Authority has set out guidelines that have created a licensing system for developers that apply to games that are on the blockchain. This creates customer confidence, protects game developers and looks to prevent criminal activity, such as fraud and money laundering.
iGaming Capital launched in Malta
iGambing Capital is a publication that will create digital newsletters and content aimed at people who are interesting in and that work in the iGaming industry all over the world. It will be distributed to all iGaming companies Malta and key operators in the UK. Industry experts will be discussing ways to innovate further in the industry and consider how it can continue to grow. There are plans to have conferences in different parts of the world in a couple of years to reflect the growth of the industry. This publication has launched in Malta to reflect that Malta in the iGaming hub of Europe.
Favourable tax rates
What makes Malta unique in Europe and very attractive to new businesses is the low tax rates. Many countries over Europe have varying tax rates that can constantly change depending on who is in control of the government, but Malta has built up a reputation of having low rates and there are no signs that this will change soon, so businesses see Malta as the place to base themselves. Employees that work in iGaming that are licensed by the Malta Gaming Authority are eligible for reduced tax rates, double tax relief and refunds on dividends.
Many geographical factors have made Malta an attractive location for iGaming. It is an attractive location in southern Europe with a great climate all year round and is a member of the European Union. It is ranked sixth in the world for quality of life. English is also the official language that is spoken all over the world. Investors and businesses see Malta as becoming the Silicon Valley of Europe, and all the factors above make it a very attractive proposal to new and thriving industries, in particular the online gaming industry.