Malta is one of the most preferable destinations worldwide for online casino registration. This small European nation is also famous for its beautiful beaches, natural landscapes, delicious cuisine and architecture. But, tourism in Malta is more recognized for attractive gambling destinations including the sports betting companies run by the Maltese Gaming Authority. Let’s find out what makes gambling a blossoming sector on this Mediterranean Island.
History of gaming in Malta
Malta has a long history of gambling, which explains why many gambling establishments are located there. An ancient Maltese gaming group named Cippitatu had players who placed bets on spinning tops with the winner winning money. The Lotto Act was passed in 1922 to regulate the game in the country. In the years since then, the government has made many legislative decisions covering almost every form of gambling and sports betting.
Things started changing in 2004 under Prime Minister Lawrence Gonzi. He made Malta the first country to introduce online gambling regulations in Europe. The rules provided an unambiguous legal framework under which online gambling businesses could operate. In the subsequent ten years, as the popularity of online gambling grew, Malta’s legal framework positioned the nation for growth. Malta’s laws are simple to grasp, which allows businesses to make long-term plans, in contrast to other nations’ murky and perplexing regulations for iGaming.
Today, more than 400 online gaming companies are registered in Malta with a diversified portfolio in the gambling industry. The games preferred by the Maltese registered companies include sports betting, casino, bingo, poker, esports, live betting and more. Besides hosting the iGaming summit every year, Malta is also known for organizing the biggest gaming conferences in the world.
About Malta Gaming Authority
The Malta Gaming Authority (MGA) is the official regulatory body that looks upon online gaming in the country. They are responsible for new gaming licenses, their renewal and also cancellations. The body was formed in 2001 to regulate online gambling and land-based casinos, lotteries, slot machines and amusements. MGA not only creates a safe and secure gambling environment but also supervises the market which accounts for 12% of GDP in the Maltese economy.
The MGA has undergone many changes since its inception owing to the changing industry demands like the adoption of new technology that supports live gaming, esports, blockchain and cryptocurrency. This means Maltese casinos can accept cryptocurrency payments and crypto assets under the MGA license.
Regarding money laundering and security, the MGA works tirelessly to crack down on cases that involve the threat of terrorist financing or misleading acts. Since Malta is one of the EU members, the nation is bound to EU Directives on Money Laundering and Terrorist Financing apart from enforcing every directive principally.
To ensure fair play, MGA has cancelled many misleading companies’ licenses in the past. They may refuse to give a license if the registering company is suspectable or does not seem fit to operate gambling games. The authority also collaborates with foreign law enforcement and regulators to ensure the Maltese license is not used inappropriately or to violate another country’s gambling laws.
Why is Malta good for gambling operators?
Unlike many other gambling regulators worldwide, Malta gaming license offers easier payment options once the license application process is completed. This makes local gaming operators access the gambling market worldwide and meet potential clients for investing in Malta’s online gaming. Although obtaining a gaming license in Malta can be a bit complex, costly and time-consuming, it offers great benefits once acquired.
The license provides operators with protection, partnership opportunities and a new way to become global. This also allows companies to enjoy easy payment options which are open to different markets worldwide. They benefit greatly from online and offline advertisements by employing different settlement and payment accounts. A license holder can offer various gambling games in many international and EU markets. Furthermore, switching jurisdictions is hassle-free and requires only a dedicated corporate service provider.
Why should you launch your iGaming company in Malta?
As mentioned earlier, Malta is the first nation in the EU to implement gaming regulations. This makes the country ahead of many European nations attracting major gaming companies to the country. Malta’s broad and deep ecosystem not only makes it an attractive destination for gambling start-ups but also a great source of income for tourism companies. Whenever a new business is launched in Malta, they surround themselves with industry peers which are valuable for networking and sparking new ideas. The new gaming operators, on the other side, get a pool of potential employees with gambling industry experience starting from IT service providers, accountants and lawyers.
Malta’s attractive tax regime
Malta has a straightforward taxation policy that supports businesses and service providers immensely. Gaming companies are not an exception as they too enjoy great benefits due to less taxes. Although Malta’s corporate tax is fixed for every business which is 35%, it allows companies to claim rebates making many of them pay only 5% of net profit. The rates, when compared to other European countries or the rest of the world are very less. This means, that when you invest in gambling business in Malta, your profit accumulates due to the attractive tax regime.
Malta’s gaming license process may not be easier than the one in Curacao. To achieve them, however, you can follow some steps and invest a significant amount. The MGA requires appropriate paperwork along with a legitimate and sound business plan that ensures fair game. If you are using the latest software or technology, a technological audit will be made other than checking the software licenses. But the entire registration process is quite straightforward and might take a few weeks before you get a license that remains valid for five years. After its completion, you can get it renewed which again has some basic rules.
Malta is one of the thriving tourist places
Malta is a member of the European Union and is located in the Mediterranean. The beautiful archipelago’s proximity to Europe, North Africa, and the Middle East makes it simple to access many important markets quickly. With favorable weather conditions all through the year and English as its official language, Malta has a very high level of life. The urban, family-friendly islands have a fascinating history, delicious food, stunning scenery, and clear waters, all of which make it a desirable spot for ex-pats to settle down.
Supportive authorities and easy access to bank accounts
Malta’s MGA is very supportive and unbiased when it comes to license issuance. Their audits and inspection are very respectful maintaining high standards even with foreign start-ups who locate their business in another country. For easy financing, Malta offers an easy bank payment and accessibility option provided your company is registered successfully with the Maltese government.