|Malta may have only just joined the European Community but they are already looking to take full advantage of the new doors opened to them in the I-gaming industry. Using the Lotteries and Gaming Act, together with the pull of Malta’s excellent location and competitive tax incentives, the country is certainly a compelling option for quality offshore operators.|
In fact Malta has already attracted the attention of several gaming operators. Over 20 gaming operators have been licensed - including the cream of the British bookmakers such as Stanley Leisure and Tote.
In what’s sure to be a further enticement the chairman of the gaming authority has announced that new rules will be issued this year to regulate and license online gaming. The present rules for betting licences prohibit local players from participating in the bets. This prohibition will most likely be repeated when online gaming licensing regulations will be formalised under the Lotteries and Gaming Act.
This may be seen as Malta's answer to protect its citizens from particular risks. At the same time it provides adequate regulation for all foreign players who access locally hosted and licensed websites.
US operators are keenly enquiring about the potential of Malta as a well-regulated island. As part of the EU, Malta only seems to need to accelerate the drive for regulations to ensure a place in the online community.
Against the background of deregulation and total prohibition for local consumers, there is every reason to believe that the island can quickly establish a reputation for itself as a world leader in the field of on-line gaming. Hopefully the resolve shown in joining the European community can be channelled to fulfil the island's I-gaming potential.