Malta is known for its beautiful weather, the thousands of tourists who find the island every year and its favorable location between Europe and North Africa. Organisations within the iGaming sector are also increasingly establishing themselves on this island. What makes Malta so popular among these parties, apart from its fine climate? What advantages does Malta offer to attract these organisations? One of these reasons will be in the flood on the Maltese economy.
Information from Casino Scout’s website shows that the iGaming sector now accounts for approximately 12% of the Maltese economy, on the one hand because of the revenue it generates for Malta, approximately 700 million euros. On the other hand, by the employment that these organisations offer to approximately 6,400 citizens.
Regulated iGaming started in Malta
While more and more European countries are trying to regulate the iGaming market, Malta has been doing so for some time. In 2004, it became possible to apply for a licence here. It makes it attractive for international providers of online games to establish themselves on the island.
The process of applying for a licence to offer these games is much faster than in countries where regulation has yet to begin. Currently, many of these casinos only have a licence in Malta. Also a country like Cyprus is popular. Just like in Malta, the iGaming branch has been regulated for some time.
In Ireland players can register on Betiton (betiton.com/en-ie/casino/) or Mr.Green (https://casino.mrgreen.com/en-IE/casino where they offer regulated access to old-school and newer casino games. This way they can enjoy their favourite in a save environment. A great plus is that there are attractive welcome bonuses and they don’t have to worry about any legal issues.
Protecting players in the new age of casino games
A common collective term for playing games of chance or betting on sport online is iGaming. In the mid-1990s, with the rise of the Internet, this form of gambling and betting became increasingly popular. The regulations surrounding iGaming vary from country to country, from a total ban as in most states in America, to normal regulation of the sector in the majority of EU countries, among others.
Unfortunately, despite strong governmental oversight and the integrity of many online casinos, iGaming fraud still occurs regularly. On this overview page you can find general information about traps, fraud and scams at iGaming and land-based casinos. In addition, on this site you can find an overview of common abuses and deceptions per popular casino game.
In the European Union, iGaming is legal in most countries. This is not the case in many countries in Asia and America. Partly because of this, the iGaming market in Europe represents about half of the global iGaming market. Estimated revenues from online gaming were around 35 billion worldwide in 2015 (source).
Offline, or land based, gaming is still much more popular, however, with iGaming accounting for less than 17 percent of total casino revenue worldwide. However, it is expected that the percentage of gamblers playing online will continue to grow. Mobile gambling, via phone or tablet, is also on the rise. So before you sign up with a website or visit a casino, check out the most common abuses per game.
That way, you may be able to avoid casino scams yourself and make sure you’re at a safe and secure (online) casino. Especially during recent times online gaming gained in popularity so the importance of protecting yourself from scams and choosing a trusted website is all the more important. Of course, it is not known exactly how much money scammers and fraudsters earn in the illegal casino world. However, it is certain that in many countries this amounts to several billion dollars a year.