Maltese lawmakers have been trailblazing in the online gaming industry. They showed foresight that made the country the gambling industry epicenter that it is today. In 2004, Malta was the first EU member to enact laws focusing on the online gambling sector. As a result, it became a trusted jurisdiction for gambling operators across the globe.
Malta has a long history of gambling. In 1922, the country regulated lotto, which came from its neighbor Italy. Also, lawmakers forecasted the growth of online sportsbooks and casinos. Thus, it became the world leader.
After establishing the MGA and the laws that support it, Malta’s online gambling sector grew tremendously. Also, online operators provide nearly 12 percent of the country’s GDP. Online casinos are popular worldwide, including in the UK. Although the UK has relaxed its online gambling laws, most online gaming providers still prefer getting their licenses from Malta.
Gambling Industry Epicenter
The Malta Gaming Authority was established in 2001. It used to be the Lottery Gaming Authority. Also, it regulates all forms of gaming in the state, including land-based and online casinos and B2B and B2C service vendors.
The MGA has a seamless license application process advantageous for gambling companies that choose to set up their headquarters in Malta. As a result, many people want to learn how to be a bookie and establish their base in the country.
Malta also has favorable tax rates that can go as low as five percent. However, it depends on the type of license they obtained. Also, multinational operators can increase their profits when based in Malta instead of the UK, where the tax rate is 21 percent.
Another reason why Malta is the epicenter of the gambling industry is its strong fiber-optic network. According to sports betting picks experts, the country also has nationwide 5G network access.