Malta is commonly associated with the poker tournaments that take place in the largest casino venues on the territory of the country but the question about a possible expansion of the online gambling activities has been raised recently and the apparent benefits from such a move were highlighted.
Currently, more than 8,000 people are employed in the gambling sector and the financial benefits the online gambling brings can hardly be denied. Online gambling activities are said to boost country’s economy and make it even a more important factor in the economy of the Mediterranean countries in general.
The plan for expansion of the online gambling sector includes the establishment of a business park named SmartCity Malta and it is believed to attract foreign investors and provide Maltese residents with more career opportunities.
Malta is considered to be among the pioneers as far as online gambling legislation is concerned. Needless to say, authorities made a lot of efforts towards ensuring the safety of all players and the reliability of the licensed online gambling operators, allowed to provide their services on the territory of the island.
What is more, Maltese online gambling segment already plays a key role in the economy of the country as it forms 12% of the annual gross domestic product. As mentioned above, a considerable number of residents are in charge of supporting gambling operators’ services.
A key figure in Maltese gambling affairs shared for a reputable local media that attempts for joining forces with important Asian partners are being made. Generally speaking, Maltese officials are trying to expand the gambling sector by inking profitable deals with operators and regulators outside Europe.
Those who are familiar with the gambling reforms that are to be made in Europe would understandably ask themselves why the other countries are hesitating as to whether legalize online gambling or not while Maltese regulators are even eager to expand the sector? Apart from the financial aspect, Maltese gambling authorities have realized that if there is a high demand for online gambling in Malta, they have, therefore to meet players’ expectations. By neglecting communities’ demands, they allow “money leakage” since players will find another, more or less legal method, for placing their bets.
Another factor worthy of mentioning is the strict regulation, concerning the entire gambling sector in Malta. Authorities do their best to protect players, prevent or penalize any violations. Their politics is obviously effective, which can serve as a convincing evidence for the other European countries that the proper managing and the establishment of clear rules can make online gambling a profitable sector in any country.
