Sports Betting: Spotlight on Malta
18 November 2019 / Otra
If you are into the online gambling industry, you probably have already noticed one interesting fact — many casinos and sportsbooks are licensed in Malta. Why’s that?
Malta has been offering offshore licenses for gambling platforms for some time now. The Malta Gaming Authority is one of the most popular governing bodies that regulate online gambling sites, as it is a trustworthy and independent body that makes sure you’re not playing games or betting on a scam platform.
However, what many don’t know is that Malta is also home to several beautiful casinos and sports betting venues that attract thousands of tourists.
So, what’s the current state of affairs with sports betting, and how does it affect the country of Malta, its economy, its citizens, and more?
Is Sports Betting Legal in Malta?
Here’s the shortest possible answer for you — yes. Malta was a pioneer country to recognize online gambling as a legit form of gambling, and one of the first jurisdictions of the iGaming framework. This also included sportsbooks.
Needless to say, the citizens of Malta were immediately able to enjoy a great offer of both sports betting services and online casinos. However, making everything legal on the web paved the way for the regulators in Malta to come up with their “offshore” regulator concept that was one of the first of its kind. In other words, no other country in Europe was able to sort out the whole “online gambling thing” approximately two decades ago, but Malta wasn’t waiting around and offered a great solution.
The licensing procedure began with a piece of legislation called Public Lotto Ordinance. However, not long after that, the Lotteries and Other Games Act prevailed and made all possible types of gambling legal. Mind you, this was the year of 2001, so Malta was very quick to act.
A couple of years after that, in 2004, the country updated the regulations with a legislative piece simply called Remote Gaming Regulations. It recognizes four types of licenses that operators can apply, and what we are most interested in is the Class 2 license which is connected to sports betting.
From Malta with Love
The Republic of Malta is an island country located in the Mediterranean Sea. It’s a rather small country, so it alone cannot really make a market big enough to support the gambling industry.
However, Malta is now a part of the European Union, meaning its market is substantially larger. In other words, Malta positioned itself as the gambling capital of the EU, not only because it is a sort of tax haven and offers offshore licenses, but also because it has managed to build a rich tradition in gambling.
Would it be an overstatement to say that Malta can be considered Las Vegas of Europe? Probably yes, as the number of entertainment options is far more extensive in Sin City. The common denominator between these two gambling centers is that they are both exceptional at what they do — provide a safe and legitimate place for people to have fun and gamble.
Make no mistake — the country’s rich history and unique culture have been one of the main reasons why people love visiting it. However, its officials decided that they can raise tax revenue by even more if they offer visitors various types of entertainment, including land-based casinos and sportsbooks.
What Does the Future Look Like for Sports Betting in Malta?
Sports betting, just like casino gaming, has become an integral part of Malta’s identity, and its popularity will rise exponentially in the following years. The residents and visitors of Malta can enjoy betting on various sports (and non-sports) activities around the globe in online or land-based sportsbooks. The industry has been thriving, thanks to those officials who were quick to regulate the online market and position country as a pivotal player in the online gambling industry.
Therefore, Malta is a great place for both operators seeking to regulate their sportsbooks and punters who are looking for sports betting options. It’s one of those places that is open to gambling of all kinds. Perhaps that’s why it is doing so well.