Online Games Industry: An Overview

1. Online Games Industry: An Overview The impact of technology on our lives cannot be understated as our way and standard of living are affected at large by various technological developments. While way of carrying out different productive activities has changed tremendously, our relaxation techniques are also not unaffected by this. One of the tasks which we do to get refreshed is playing games. Earlier we used to play physical board, card and dice games, but after the advent of the Internet, we now play online games. This is not a very recent trend as we have been playing games on different gaming websites from the last 2 decades. Looking at the boom which online games created and also to account for the risk factor, which is closely associated with technological platforms such as Internet, various countries in the world have regulated the online gaming industry. Malta is also one of them; in fact, it is the first member state of the European Union to enact such legislation. As online games are widely enjoyed by citizens of the country, it has become the largest online gaming jurisdiction in the world. Who regulates the gaming industry? The Malta Gaming Authority i.e. MGA is a regulatory body, which governs all forms of gaming in the country. It issues remote gaming license to companies across the world, who want to operate an online gaming business in Malta. What is covered in the law? Different kinds of games such as casino, poker, sportsbetting, P2P, lottery, bingo, slot and others are included in the law. Games played through all kinds of mediums, i.e. telephone, mobile and internet are regulated by the law. Benefits of Malta gaming license: ● An online gaming industry which is always full of speculations is relatively safe in Malta for operators as well as players. Companies obtaining Malta online gaming license are given incentives in the form of low rates of corporate and gaming taxes. Employees of companies, operating in I-Gaming industry, have low rates of income tax. Shareholders of the companies are given a tax refund on their dividend income in order to avoid double taxation. ● ● ● Present scenario of I-Gaming industry in Malta: ● The jurisdiction for the online gaming industry in Malta is very strong and efficient and hence the

2. place continuously attracts many license applicants. An increasing number of Malta online gaming and gaming licenses are issued every year including both local and overseas. ● Encouraging factors: The growth in the I-Gaming industry in Malta can be attributed to factors such as: ● ● Effective telecommunications infrastructure. Presence of support services such as online payment processors, data centers, financial services institutions and auditors. Availability of skilled and qualified professionals in the field of software development. ● Thus, online gaming is a flourishing sector in Malta and would continue to be, owing to the amendments made in the laws and rules from time to time to provide for industry and market changes, and ensuring healthy competition, flexibility and security together. If you are a prospective gaming operator in Malta, approaching consultancy services in the country can make the license availing process easy and quick for you. Resource Box: DD Consultus has rich experience in helping companies to obtain Malta online gaming license. Their services are reliable and affordable. They also provide services related to online payment processing, legal, and financial matters in Malta. Summary: The above article gives a brief introduction of the online gaming industry in Malta.