Malta’s historical leap into online gaming regulation has propelled it to become the world’s gaming capital. This achievement did not happen overnight, but rather through a culmination of a rich gaming history.
Under the leadership of Prime Minister Lawrence Gonzi in 2004, Malta made history by being the first EU country to regulate online gaming. This strategic decision set Malta apart from other jurisdictions grappling with unclear iGaming regulations, establishing a friendly environment for gaming.
While Malta’s regulatory framework is crucial, there are other contributing factors to its iGaming dominance. One key factor is its business-friendly taxation system, offering attractive corporate tax bands that entice gaming enterprises to establish their headquarters in Malta. Additionally, being a part of the EU allows companies the freedom to offer online gaming services across the entire bloc, facilitated by the ease of movement for professionals within the EU.
English as the official language simplifies the process for foreign companies, ensuring a smooth transition and understanding of local laws. Malta also boasts a reliable internet connection, relatively low employment costs, and a high standard of education, further enhancing its appeal.
Malta’s University produces skilled graduates in software development, legal, and marketing, contributing to a comprehensive talent pool for the gaming sector.
Living conditions in Malta are attractive, with the country ranking highly for macro-economic stability in 2019. This fosters a thriving ecosystem for gaming companies. Additionally, Malta hosts a range of support services, such as corporate, outsourcing, legal, and accounting firms, vital for the growth and sustainability of gaming businesses.
Another pivotal factor in Malta’s gaming success is its well-established finance sector. Specialist services, including gaming-friendly payment options, have played a significant role. With payments in EUR, professional gamers and startups can seamlessly engage in online gaming activities and manage business finances, including multi-currency transactions.
Malta’s rise as a global powerhouse in online gaming is a testament to meticulous planning, a regulatory framework, and the strategic exploitation of its unique advantages. From its historical gaming roots to its multifaceted ecosystem, Malta’s thriving gaming sector serves as a blueprint for stakeholders in the rapidly evolving world of iGaming.