Over the years, Malta has become a renowned leader in the igaming Europen hub and the world with well-regulated jurisdictions that control the sector.
In April 2004, Malta published The Remote gaming Regulations hence becoming the first member of the European Union to regulate remote gaming. The Malta Gaming Authority is now a flagship authority in the gaming industry.
What is igaming in MALTA?
Igaming is wagering on the outcomes of a game, sport, or event. It can be generated randomly or over the internet, popularly known as betting online. It may include fixed odds betting in sports, online casinos that include games such as bingo, poker, slots, lotteries, fantasy sports, etc.
A significant share of the gaming industry in Malta consists of sports betting and casino games, making igaming a booming sector in the city’s economy. Companies that operate gaming in Malta have to acquire remote gaming licenses processed by the Malta Gaming Authority.
What a remote gaming license is
Acquiring a remote gaming license in Malta allows you as a gaming operator to provide gaming services in or from Malta in various games such as sports betting, casino games like slots, racebooks, sports pools, poker bingo among others.
If you are not familiar with Maltese regulations on remote gaming, you should consult a lawyer such as Christain Ellul for guidelines and assistance in acquiring the remote gaming license.
Malta Gaming Authority carries out the jurisdiction of offering licenses for companies that wish to target Maltese players or host igaming in the city.It grants licenses subject to the applicant satisfying all the conditions stipulated under the licenses.
It can either be a Critical Gaming Supply License applicable B2B companies or A Gaming Service License appropriate for B2C operators.
B2B Critical Gaming Supply License
This type of license is given to companies that provide critical gaming supplies or materials that are useful for determining the outcomes of events forming a substantial part of the city’s gaming service.
Without these supplies, the industry will be affected by a failure to manage the risks associated with the business’s growth.
B2C Gaming Service License
This type of license consists of four gaming service types which are:
Type one gaming service; it includes gambling games played against the house in which a random generator generates the winner.
Type two gaming service; this entails games in which the outcome is not randomly generated but highly depends on the result of the competition. The operator’s host site has to manage their risks through how they offer odds to the players.Read more: Charitable Gift Annuities: Get Paid to Give
Type three gaming service; this license includes gambling games not played against the house, and the operator has no exposure to risks like in type 2 gaming service. Instead, they earn revenue through commissions on charges and prizes.
Type four gaming service; this type of license includes all controlled skill games.
Remote gaming tax in Malta
According to Malta’s laws and legal regulations, all igaming operators working in or from there have to pay taxes such as corporate tax or gaming tax. Corporate tax based on the profits that the operator generates from remote igaming while gaming tax is on the revenue the remote igaming operator generates from Malta players.
Malta offers excellent legal regulations to obtain a gaming license paired with a tax-efficient system. That is why it has grown to be an attractive gaming hub over the years.