You can guarantee three components when it comes to the tiny Mediterranean island of Malta: year-round sun and warm weather, a laidback lifestyle and the guarantee of jobs within the iGaming industry.
The industry is made up of online gambling companies, including operators, online slot websites, affiliate websites and online streamers. Malta has quickly become one of the top places in Europe for start-up companies and businesses.
The iGaming industry contributed an estimated ?924m to the Maltese economy in 2020 and remains the islands number one revenue generator alongside the tourism industry. iGaming companies are often among the most inclusive, attracting employees from across the globe. Companies including Catena, Acroud and Growth Leads have opened multi-cultural offices, attracted the most intelligent and hard-working employees, and brought them to Malta. The industry has created thousands of jobs and as the number of iGaming companies on the island increases, so does the workforce.
By 2023, the online gambling market is expected to be worth $92.9bn. The number of gambling markets opening in Europe continues to increase, with the Netherlands the latest to legalise online gambling again.
What’s In It for the Gambling Companies
As well as a very generous rate of taxation, the very best and most trustworthy online casino operators are licensed by the MGA and often have their headquarters located in Malta. The very best slots sites have licenses provided by the MGA. These licenses are only granted to gaming websites which have been thoroughly checked to ensure they offer safe, fair and trustworthy games of chance to customers. In fact, alongside the UKGC gambling license, the MGA is regarded as the hardest to get.
In addition, it is not only gambling affiliates and operators which are stationed on the island. Casino games developers have offices in Malta too, this makes it even easier for online casino operators to work with the developers of the games which they will be hosting.
Why Are iGaming Companies Attracted to Malta?
Malta is regarded as a tax haven, whilst this may have negative connotations, it’s certainly beneficial to the gaming companies based on the island. Malta has extremely favourable gaming taxes and license regulations. Malta based operators are required to pay only 5% tax on their revenues. Operators must also purchase an annual license from the Malta Gaming Authority (MGA) worth ?25,000. Government support is available to new companies too, meaning that Malta is often able to attract big companies to its own island ahead of other tax havens including Gibraltar and the Philippines.
The Maltese government is also committed to becoming a leader in areas surrounding technological advancement. A technological infrastructure which includes ease of access to an e-government as well as online business ventures ensures that new companies relocating to Malta can do so in an easy and simple way. The education and clinical study sectors in Malta continue to grow alongside the iGaming sector too. For example, university education in Malta is free for EU citizens.
For companies and start-ups in Malta, attracting employees is easier due to the climate and Mediterranean lifestyle. Boasting pleasant, sunny weather all-year-round as well as numerous fun pastimes including swimming, diving, hiking and the opportunity to fill your senses with culture, Malta has something for everyone it seems.
Despite only having a population of just over 500,000, Malta is armed with one of the best young talent pools in Europe. The expertise on offer in Malta is second to none and has been described by some as the Meds answer to Silicon Valley. Employers can find developers, tech specialists, experienced search engine optimisation experts all at the drop of a hat.
Relocation to USA?
The buzz within the iGaming industry right now surrounds the USA online gambling market as a greater number of US states open to allowing their citizens to gamble online. There are now over 15 states which are offering licenses to gambling operators. The licenses differ state by state, some of which make it legal for online sports betting sites to operate in the state whilst others allow online casinos and poker websites the opportunity to offer their services.
Although Maltese based companies can request US licenses, it is thought that in the future, these companies may relocate or, at the very least, open their own offices in the USA. The US online gambling market will be the largest and most lucrative in the world by a long margin if most US states legalise online gambling. If the state of California amends their laws in favour of online gambling, it is expected that all the major companies will prioritise the state.
