Why did iGaming businesses move to Malta?

The online betting market has become highly popular and of hefty demand for several consumers given the recent upsurge in active players that regularly enjoy playing online compared to other more traditional methods, with many of the world’s most recognisable bookmakers also aiming to take more priority to improve their online presence compared to their active in-house services, with DraftKings also offering a fair share of online buffalo slots and other casino outings on their online casino.

Many bookmakers have chosen to migrate to Malta to further improve and distribute these iGaming services. They want to expand their business fully and attract more players from around the world.

Despite Malta being a small country located in the Mediterranean with a population of around 500,000 people, it has quickly become the preferred destination for iGaming businesses to operate out of due to various reasons that can further help elevate their company’s stature and increase their overall player base.

• What makes Malta such a popular destination for iGaming businesses?

Malta has a prominent and long-lasting history of gambling that dates back to the 17th century. Online gambling legalisation began in 2004, and the Malta Gaming Authority (MGA) was established that same year.

The MGA has been responsible for fully overseeing and monitoring every form of gambling that takes place within the country, which now includes online gaming, with gambling being one of the nation’s significant benefactors towards its annual GDP with a contribution of over $700 million, which is around 13% of the total figure.

Gambling is an integral part of Malta’s economy and total income and many betting businesses aim to take advantage of the opportunities to move to Malta. The MGA license is one of the most valuable assets available, as the MGA aims to set higher standards for gambling companies.

Achieving an MGA license requires a specific list of criteria for every business, which includes limiting the ability to work with criminal connections or lacking sufficient funds. The acquisition of this license proves to players that they will be offered a safe and secure service with increased transparency from the casino and full fairness when wagering.

In addition to this benefactor, Malta also has an impressive telecommunications tab for online iGaming businesses, as well as a highly skilled workforce who are capable of speaking many different languages and are often credited for their hard work and well-trained backgrounds in the industry, which are all critical aspects for employees who work in iGaming.

On top of the economic value that gambling brings to the nation, Malta is also a tremendous spot for tourists who often take up an interest in gaming, whether online or in-house. This means that there are always plenty of opportunities available for iGaming companies to utilise should they set up in the EU’s smallest nation.

• What does the future hold for iGaming in Malta?

According to the MGA, in 2022, there were 1.56 million registered players who regularly played on Malta-licensed gaming sites. This was a 15.8% increase from the prior year and contributed 573 million Euros to the nation’s economy.

With such an increase, it remains clear that the Maltese government aims to continue supporting the MGA’s primary goal of providing complete fairness and secure service to all consumers.

There will likely remain continued support from the government as they aim to implement a long-standing policy that focuses on gaming being viewed as an entertainment service available to all consumers, whether they are from Malta or abroad.

Overall, iGaming and other gambling services continue to supply the nation with a significant revenue that shows no sign of slowing down and is increasing in figures with each passing year.

More active players are aiming to move to the online circuit as a means of finding more convenience and joy in playing across a virtual platform compared to an in-house casino or bookmaker, as they can access all their personal gaming and casino needs from their personal smartphone devices.

While Malta may have a small stature in terms of size and population, it has remained one of Europe’s most distinguished betting markets that has remained heavily reliant on the gambling industry for centuries as a way of earning income, which has allowed multiple iGaming businesses to flourish under the MGA’s licensing and will likely see more online betting companies setup establishment within the country’s borders throughout the next few years.

Disclaimer: Players must be 18 years + to partake in any gambling, betting or casino activity. Players are urged to seek help if they require it. Players play at their own risk.