If you’re looking for industries that are booming in Malta right now, look no further than the iGaming industry. The iGaming industry is doing what so many others wish they could do: creating buzz, excitement and demand and none of these factors seem to be fading; they are only becoming more pronounced.
What makes this boom a bit surprising for some is the fact that it seemingly came out of nowhere and that it happened so fast. All you have to do is take a look around the globe to see that iGaming isn't new, and it's proving to be a force to reckon with worldwide, meaning this isn’t unique to Malta.
The rise of iGaming worldwide
Before we drill down into the rise in iGaming in Malta, let’s examine the global picture.
The iGaming industry is now worth in excess of €250 billion. As the sector evolves and new technology comes online, more and more people are discovering how much fun iGaming can be.
Not surprisingly, gaming became a popular activity, and not just globally.
What is leading to the massive interest in the iGaming Industry here in Malta? Let’s take a look at some of the biggest contributing factors.
The industry in Malta has been quick to adapt
One thing that any business owner will tell you is that nothing stays the same. Trends come and go, your customer base may change and the market itself goes through ups and downs. What the iGaming industry in Malta has managed to do well is stay flexible and adapt to change in real-time. This is essential for any industry to survive and prosper, as it needs to grow with the times so that it doesn’t become dated and obsolete.
It’s for this reason that the industry has grown to become 11 per cent of the GDP of Malta. It has created a trickle-down effect in terms of jobs too, with people working on security auditing, web hosting and legal work all related to the iGaming industry.
The selection of games is engaging and exciting
Then there is the fact that the selection of games available to people is engaging and exciting. There is always something new to check out as games are being released regularly. There’s no chance of boredom in an online casino.
And even though these games are new and exciting, they have a sense of familiarity to them. You can find online slots and table games, giving authenticity to it that new players are often surprised by. Other games that are found under the iGaming umbrella include lotteries, bingo, poker, fantasy sports and sports events.
iGaming is convenient
Besides the selection of games, players also appreciate the convenience iGaming offers. You can play anytime you want from the comfort of your own home. It doesn’t get easier from a player’s standpoint. This has been one of the main reasons why iGaming surged in popularity during the pandemic – when people couldn’t leave their homes and take part in traditional leisure activities, they turned to technology and gaming.
A large number of iGaming companies have set up in Malta
As interest in the iGaming industry grew, companies took notice and today there are more than 250 iGaming companies that are set up in the country. While popularity certainly plays into the decision-making process, there’s also the fact that there are low fees and taxes on revenue and the licensing infrastructure is low-cost. Start-up companies often eye Malta as the perfect home base, which then continues to inject excitement and a sense of “newness” into the local industry.
As for its history, it dates back to over 20 years ago. The first iGaming companies came to Malta in the late 1990s, so it became a pillar of success in the gaming world.
Malta is a hotspot for iGaming conferences and events
Malta has also become somewhat of a hotspot for iGaming conferences and events, which only drives interest higher. Several high profile events typically take place yearly, helping to put Malta and the iGaming industry in the spotlight.
Plenty of talent to be found
It's not just players that are in great excess in Malta, but also the talent. Because of the island's reputation in the iGaming industry, suppliers and talent are plentiful. This makes it all the more attractive to set up shop, as the young talent is what’s driving the industry forward right now and providing it with all the modern ideas.
Watch for this industry to continue to dominate in Malta
The iGaming sector is predicted to continue growing, as the technology evolves and new games and experiences are developed. Experts estimate the industry could be worth around €254 billion by 2030. In Malta, the iGaming industry is definitely worth watching right now. What seemed like a meteoric rise in popularity still isn’t slowing; if anything, it appears to be gaining steam as technology continues to advance. It’s one of the leaders in the industry, and for good reason.
Disclaimer: Play responsibly. Players must be over 18. For help visit https://www.gamcare.org.uk.