With more gaming companies moving online and other new ones springing up at a high rate, Malta has become a centre for gambling companies worldwide.
There are various reasons why so many gaming providers use Maltese licences.
First, the Malta Gaming Authority is one of the world's respected gaming control boards and holding a Maltese licence is considered as a vote of confidence worldwide. Additionally, the procedure for applying the licence is fast and offers a stable regulatory and legal framework for gambling providers, online players and service providers.
In 2018, the government of Malta introduced several changes to the Gaming Act. The changes simplified the licensing process in the country. It now provides for two types of licences only: B2C and B2B. The B2C licence is classified depending on the types of games provided and eliminates the need for requiring a new licence for every class of game. Under these laws, a B2C licencee can add on various game types without having to go through the full Maltese licensing procedure every time. The Gaming Act also extended the validity period for Maltese licences from five to 10 years.
Over the last three years, Malta has attracted more than 160 remote gambling providers. This statistic shows that the yearly rate of growth has doubled and high-profile operators continue to choose Malta as their online gaming jurisdiction. The growth also shows that the industry has received the regulatory framework well. As the number of online gaming providers increases steadily, users tend to use websites like betpal.com to find the provider that fits their needs.
Moreover, Malta has an established ultra-modern telecommunications infrastructure that can host and deliver round-the-clock connectivity. There are also ancillary services available including online payment processors. The Maltese government was ranked second by the World Economic Forum (WEF) as the most successful government that promotes the use of information and communications technology.
In November 2009, Malta was ranked in the first position among European Union members when it comes to e-government and IT. The 2009 EU e-Government benchmarking showed that Malta is making an excellent leap when it comes to the delivery of e-Government services. Malta topped the country ranking in full online availability and online sophistication by achieving a 100 per cent score, making it EU's best-performing country. Malta reached the maximum score (100 per cent) in the ‘User focused portal design’ and ‘One-stop shop’. It also attained the second and third position in terms of ‘User satisfaction monitoring’ and ‘usability’ respectively.
Gambling providers with a Maltese licence can also benefit from European onshore status. This means that Malta-registered operators are allowed to advertise across the European Union. Additionally, the Malta Gaming Authority employs strict laws when it comes to money-laundering, and it's in full compliance with the European Union legislation.
The Maltese licence has become popular with gamblers worldwide. Players prefer gambling providers with a Maltese licence because it provides them with fair, transparent gaming experience. Online casino operators and their software providers must determine the result of gaming with RNG (random number generator). This ensures that the casino and provider can't tamper with the results. If an operator doesn't adhere to the rules and regulation, their licence is revoked. This gives players worldwide the security and confidence to bet online.
Launched in 2005, the Malta Remote Gaming Council (MRGC) aims at creating a common platform where operators can address their issues with the advantage of collective experience. As a result, this allows industry players to voice their concerns or make proposals via the MRGC to the relevant authorities.
The gaming tax in Malta depends upon the games offered and the type of remote licence. For instance, tax on betting activity is 0.5 per cent on the gross amount of all accepted bets and 0.5 per cent on pool betting (cumulative stakes paid). The total tax is capped at €460,000.
In addition to low taxes and gaming licence fees, corporate income tax rates for businesses can be an effective five per cent rate depending on individual circumstances and subject to meeting certain criteria. The rate is five per cent of the total Gross Gaming Revenue when it comes to the revenue obtained from licensable gaming services. Gambling providers only pay tax in Malta in gaming revenue from Maltese players.
Aside from this, Malta also enjoys a stable political and economic situation and has a workforce that has years of experience when it comes to the online gaming sector. Malta has a reliable, flexible, and highly productive multilingual workforce. In the last decade, the number of university graduates has tripled with almost 3,000 students graduating annually. MGA has also started providing sessions that aim at training more students in management, compliance and every day running of gaming operations.
Disclaimer: Gambling carries financial risk and a risk of dependency. Play responsibly. +18. Find out more at http://gambleaware.co.uk/ or http://www.gamcare.org.uk/