The original source of the information found beneath was created by Rebecca Anastasi (MaltaChamber.org.mt) – View original source here.
Malta’s iGaming sector contributes over 12 per cent of the country’s GDP. Does it have a knock-on effect in the economy?
The official figures about online gaming industry reveal overall prosperity, high employment and revenue rise. Its worth is estimated roughly to be €1.2 billion, or over 12 per cent of its GDP. However, but these direct effects tell only part of the story. The iGaming industry has also positively affected the other industries in the country as well.
Leisure and entertainment
The rise of iGaming has “coincided with the increase of affluent business professionals on the island”, according to Jon Grafton, Creative Marketing Manager for Azure and Azure Ultra – an outfit which organises yacht charters. Mr Grafton says that the industry sees chartering a yacht “as an ideal way to spend leisure time and de-stress.” He estimates that around 20 per cent of Azure Ultra’s business comes from those involved in iGaming, from professionals seeking to book a private charter or from businesses organising team-building exercises. “The increased demand has had a positive impact on our bottom line, which we plough back into the business through purchasing more yachts and employing more captains and crew,” Mr Grafton explains.
Indeed, as a result of the increased business, the agency has created tailor-made charter packages for the sector, since “iGaming-oriented bookings tend to include a lot more special requests in terms of cuisine, water-sport activities and themed itineraries, such as famous film locations around the Maltese archipelago,” he says. Moreover, the company has had to become more flexible to accommodate last-minute changes, and bookings, in order to keep up with the demands from the sector. The team also now includes a specialist charter executive “who is a wiz at creating bespoke charter packages.”
While Azure is experiencing an increased demand for specialised on-board catering and services, such as massages or water-sports instruction, which do come as an extra cost, it is careful to ensure that its prices are fair. “Our prices are always right because we – quite uniquely among Malta yacht charter companies – own our own yachts and they’re all fully insured,” Mr Grafton says. In the future, the company plans to keep building on this success, offering corporate conference packages at sea. “iGaming has a great need for variety and excitement, and that’s what we’ll offer,” Mr Grafton asserts.
Back on dry land, catering establishments in the main entertainment areas of Valletta, Sliema and St Julian’s seem to be constantly pounding with patrons, with tables often difficult to secure, unless you have a booking. Robert Bonnici, PR and Marketing Manager for the ubiquitous Hugo’s brand, underlines this “positive effect” on the industry. Not only do professionals working in the iGaming sector “frequent our venues on a regular basis, but their spend is often much higher than average,” he explains. Moreover, there has been a demand for corporate functions and private events catering to the local and international iGaming community according to Robert.
Andrew Galea, the Sales and Marketing Manager of hotel Group Corinthia, adds that while the company picks up some business for corporate and social events, as well as some hotel bookings for visiting delegates, the business accrued during industry conferences, such as Sigma, is what really makes a difference to the company’s bottom line, with many delegates staying in the hotel. Indeed, the remote gaming sector is a market the Group is very interested in. “We are currently in the process of promoting the range of services Corinthia possesses, not only in terms of hotel rooms, but also ancillary entertainment services such as restaurants, bars and event venues,” Mr Galea says.
As a sector which relies heavily on technology, iGaming requires high-level resources and services. Computime Software, a company which specialises in providing IT infrastructure, software and business solutions, is one stakeholder which supplies such products and capabilities to businesses operating in Malta’s online gaming industry.
John Wood, the company’s CEO, says that the company has seen a positive multiplier effect arising from the increased business with iGaming companies. “The sector attracts large multinational iGaming operations which create demand for the software and infrastructural solutions which we deliver,” he states, going on to assert that this accounts for “currently, approximately 15 per cent of our revenue.” The most common solutions on-demand are IT engineering and infrastructural solutions, IT security products and services, and software solutions focused on compliance monitoring and marketing optimisation, he explains.
He also notes that iGaming clients demand sophisticated solutions and, as a result, the market “provides us with an opportunity to develop our business, and to adapt our solutions by widening our product portfolio with a clear focus on servicing iGaming companies.” Indeed, he explains the changes in the type of solutions the company is currently offering, specifying that Computime is customising its software solutions to meet the specific demands of the iGaming sector, enabling them to deliver a quick return-on-investment to their clients. Other changes the company has instituted include adapting its client onboarding process to make sure “we only do business with reputable and established iGaming companies”, allowing the company to better manage its payment and credit terms, along with the other business risks inherent in such an enterprise.
The meteoric rise of the iGaming industry has also resulted in a demand for ancillary corporate services in a variety of fields such as insurance. “Remote gaming has provided a lot of potential to prove our mettle in managing the varied and sometimes complex insurance requirements that the Gaming industry needs,” says Malcolm Ellul, Associate Director of Mediterranean Insurance Brokers, specifying that it now manages a sizable gaming portfolio, which is growing rapidly in size.
While Mr Ellul admits it is hard to establish the percentage of MIB’s business derived directly from the iGaming sector, he claims that the requirements are broad and range from “the direct insurances taken out by the business operators themselves” to “affinity and benefit schemes for employees.” In the future, the company hopes to attract even more interest, and, to this end, it has started attending Gaming-related conferences locally and overseas, and “plans to remain a market leader in providing insurance arrangements for the gaming Industry” since “gaming falls within the natural growth process of the Group,” Mr Ellul asserts.
Indeed, this seems to be the trend, for as Malta continues to attract further investment in the field of iGaming, businesses in attendant sectors are gearing up to continue offering the specialised resources to the sector, thus enabling Malta to retain its competitivity and its winning streak.
Introducing CasinoFastPayout.com – your one-stop shop for information and the best casino listings online
Casinofastpayout.com has officially launched and is already making a big splash in the online casino world. They aim to become the most extensive website about fast payout casinos and are well on the way. The website is packed with information on the latest releases, bonuses, games, and tips and advice from their team of experts.
Players can trust CFP to provide only quality information and the best casino listings online. With payout speed being their number one priority, players can be sure that CFP always has their best interests at heart.
The fastest-paying casinos reviewed
CasinoFastPayout (CFP) is today announcing its official launch as the go-to resource for players looking for speedy payouts from their chosen online casino operator. The site promises comprehensive guides to play at some of the most reputable gaming destinations as well as up-to-date news on what’s hot in the iGaming world right now – all with an emphasis on getting your money into your hands as quickly as possible!
“We are excited to announce the launch of our new website, designed to help casino players find the best fast-paying casinos. Our team of experts have years of experience in the industry, and we have used that knowledge to create a comprehensive resource packed with information on the best casinos online. All of our recommendations have been selected with payout speed in mind, so you can be sure you’re getting the most out of your gaming experience.”
Half a Century’s Worth of Experience
CasinoFastPayout.com has assembled a smashing team of local experts who will keep you fully informed on everything related to getting paid quickly when enjoying online casino entertainment.
With a combined experience of a near half-century, the team at CasinoFastPayout.com will surely know what’s up. Led by Dan James, who is genuinely dedicated to help players navigate the online gambling industry and to find the best of the best when it comes to casinos with fast payouts. On top of that, industry veteran Max Deranker joined the venture as an investor.
That Honest Friend
Casinofastpayout.com is not a website built to recommend casinos; the goal is to recommend the best ones that will live up to the players’ expectations. And to avoid providing carefully masked affiliate links leading players to choose the wrong online casinos and losing their trust in the recommending website.
“We aim to be the honest friend you turn to when you want to know, and we promise to always let you know when you have spinach between your teeth,” says Dan James.
From Malta to all over the world
The team behind the website Casinofastpayout.com is currently operating from Malta. One of the world’s biggest hubs for online gaming. As for now, the website is focused on markets such as Canada, the UK, and New Zealand. With time the aim is to grow and expand the team. And to add more experienced team members to cover more markets and continue helping players all over the world.
Advantages of working in the iGaming sector
Today, iGaming is one of the most promising and rapidly developing industries in gambling. Gambling has always been popular, and the departure to online games for money has become even more in demand. Today players can take part without even leaving their home, and now they can also play with just a smartphone in their hand.
With the active development of technology, online games are becoming more and more available for an increasing range of potential players. Experts predict an online casino boom in the coming years. This is accompanied by both global trends in the development of Internet technologies and high interest in them from users. The coronavirus pandemic has also only increased the influx of online players around the world, particularly in Europe, Asia, and America.
In the current conditions of the pandemic and its long-term consequences for society, more and more people want not only to try their luck by making online bets, but also to relieve tension and stress. It may seem strange, but in the harsh conditions of the pandemic people did not save money fearing a possible economic crisis, but on the contrary, rushed to spend money on the Internet on online purchases of general-demand goods. According to analysts these purchases were not related to essential goods, but rather on passtimes such as online games. Experts assure us that the future belongs to online platforms.
- Analysts from Hexa Research claim that online gambling revenue will increase to $73 billion by 2024.
- After research, the Evolution company has no doubt that Live Casino will be the main source of profit of the gambling market in the near future.
- Online casino is second only to betting. The revenue of online casinos is $11.2 billion.
- Due to its rapid growth, the gambling industry reached a capitalization of $250 billion in 2021.
Working in the field of iGaming gives not only confidence in the future from the point of view of a win-win material base, but also allows you to grow professionally, achieving high personal realization, since the field of online gambling is one of the most (if not the most) dynamically developing. Young professionals who have linked their careers with the field of iGaming grow daily and master new niches and skills that are inaccessible to those who sit still. Working in the field of iGaming is prestigious. These are new horizons, using the most modern technologies and tools. There are major international conferences where you can share your experience, gain new knowledge, and meet new active and promising people who always strive to be first.
iGaming Academies — what are they?
We can see that the niche is developing very quickly, and there are some specialists who understand this. In 2018, the Malta Gambling Authority (MGA) conducted a study that revealed a shortage of staff in the iGaming sector. At that time, there were more than 700 vacancies in the country for various specialists in online gambling, but only one in eight applicants received a job. Because of this iGaming academies began to appear — offering courses that will help you with entering the industry.
iGaming Academies provide training services to both individuals and entire companies. These courses provide professional training on compliance issues and help the organization comply with licensing and security regulations.
In an iGaming Academy, you can fully train for a new profession or upgrade your skills (managerial, technical, interpersonal communication, or marketing skills) and also join a company, because after these courses, employers offer good positions.
Factors contributing to the growth of the iGaming sector
As we have already written, the iGaming sector is growing and developing constantly and at a fast speed. It was also influenced by events taking place around the world.
The coronavirus pandemic forced everyone to stay at home, which meant they were looking for new entertainment. Online casinos, games, livestreams, esports — all this helped to entertain yourself while sitting in quarantine. Many started playing out of boredom, so the average traffic volume is growing. The particular success of online casinos is noted in those countries where casinos operated offline before the pandemic, for example, Germany and the Czech Republic.
– Legalization of gambling in America
America began to slowly but surely legalize the gambling market, which gave a new surge in the industry and new opportunities.
Some states and individual cities are eyeing the possibility of allowing online gambling, while others still face various bureaucratic problems. For example, in California, two bills regulating the gambling industry are being considered, and in Florida — three at once. Attempts to pass laws regarding gambling were made in the states of Kentucky and Kansas, and Massachusetts and Missouri are considering such a possibility.
The American gambling market is one of the largest and most promising in the world. At the same time, it obeys complex and confusing rules: competition is high here, as well as government pressure on businessmen.
– Flexible license options
For casino owners and online operators, this is one of the main advantages. It will be much cheaper to create an online casino than a land-based one. Plus, licenses for offshore casinos are usually more profitable.
Jurisdictions where you will be able to obtain a gambling license include Malta, Curacao, Gibraltar, Isle of Man and Kahnawake. Many of these jurisdictions offer a balance between benefits, obligations, and requirements.
– Blockchain in the iGaming sector
Innovative technologies are constantly used in the iGaming industry. Malta even calls itself a “blockchain island”, becoming the first country to legalize blockchain. Now they are actively attracting cryptocurrency exchanges, ICO platforms, blockchain-based application developers and many others, which opens up new opportunities for iGaming companies.
According to experts, blockchain is one of the most relevant topics in the online casino industry in 2022. Its key advantage is reliability and anonymity, all information and financial processes with this technology are maximally protected. It is expected that the blockchain will have a huge impact on the entire gambling sector.
DUXGroup: analysis of the iGaming sector company
One of the brightest players in the iGaming sector is the international holding DUXGroup, on the basis of which licensed casino brands have been successfully operating for several years, as well as the Chilli Partners affiliate program.
In 5 years of its work in the field of online gambling, DUXGroup has been able to attract and retain about 250 employees of the best professionals in their field, acquire two offices in Malta and Cyprus, and create its own DUXPlatform brand.
The holding has more than successfully overcome the global crisis of 2020-2021, when many competitive business companies failed miserably. Moreover, already at the very beginning of 2022, the management of DUXGroup decided to further expand the staff for the implementation of new major projects that are scheduled for this year. Today, on the holding’s website, you can find such promising vacancies as VIP Team Lead, Head of Payments, VIP German Manager, as well as vacancies for beginners, such as Junior Affiliate Managers. This vacancy list testifies to the large-scale plans of the holding, which could have been born exclusively on a stable and powerful base of successfully implemented projects of the past years.
The company openly declares that it is carrying out a revolution in the field of iGaming. The key to success in this revolution is, first of all, the people working in the holding. The best professionals are leading DUXGroup to victory in the market, and DUXGroup, in turn, providing its employees with the best tools to open up brilliant career prospects with high earnings.
Where can I look for a job in the iGaming sector?
We have compiled a list of sites where you can find work in the iGaming sector. Vacancies are presented both in Malta and remotely. You can also search for some vacancies on Facebook and LinkedIn.
iGaming is an industry that will always remain relevant. From year to year, the attitude towards gambling is becoming more loyal, and the audience around the world is only growing. Also, new technologies help online casinos to develop faster and build a more transparent and secure business. Therefore, working in the iGaming sector can be an excellent starting point and help unlock the creative potential of every good specialist.
LaLiga Extends Exclusive Official Data and Streaming Deal with Stats Perform Until 2028
LaLiga has extended its partnership with Stats Perform for a further five years. The new five-year deal will see Stats Perform continue to exclusively collect and manage live official data and player statistics from over 800 LaLiga matches per season and distribute them to enhance LaLiga coverage for licensed global broadcasters, sponsors, publishers, fantasy providers, sportsbooks and the leagues’ own digital platforms.
Stats Perform’s globally renowned and trusted Opta data will power an extensive new range of audience experiences on LaLiga broadcast, digital and social platforms, including AI-powered advanced analytics and predictions, to bring fans and bettors closer to the action.
Stats Perform’s industry leading Opta-powered PressBox Graphics platform, already used by over 150 Stats Perform clients, will create exciting new visual assets for La Liga and its sponsors, that deepen and extend fan interest from 90 minutes to the entire multi-day match lifecycle, at scale.
The partnership further elevates the position of Stats Perform and its Opta data brand as the preferred provider of live scores and player statistics for men’s and women’s professional football. LaLiga’s continued presence in Stats Perform’s portfolio reinforces their unrivalled position across Europe, as Opta is the official data provider for 4 of the big 5 leagues and is trusted by the world’s biggest clubs, federations, broadcasters, media and sportsbooks.
Stats Perform also retains the right to distribute live video streams of LaLiga matches to licensed sportsbooks in international markets via its recently upgraded “Bet LiveStreams” service.
Melcior Sole, Audiovisual Director at LaLiga, said: “Stats Perform’s unrivalled collection expertise, distribution and famous Opta brand means quality experiences for LaLiga fans and bettors. Their focus on innovation and AI will shed new light and tell new stories about how we play, immersing our local and global audiences more deeply in the game. Stats Perform is the perfect partner for a forward-thinking league like us.”
Alex Rice, Chief Commercial Officer at Stats Perform, said: “The new deal demonstrates LaLiga’s commitment to growing its global appeal and providing a best-in-class experience for their fans. We’re delighted and proud to be able to continue to bring such a high level of sports entertainment to our global media and betting partners and their customers.”
As part of the deal, Stats Perform’s industry-leading Integrity services division will work closely with LaLiga’s in-house Integrity Unit to monitor all levels of Spanish football for potential match manipulation activity.
Subscribe to our News via Email
ALTAIR BREAKER Launches Globally on Steam and Meta Quest Store
PopOK Gaming Has Received a Certificate for Latvia
Introducing CasinoFastPayout.com – your one-stop shop for information and the best casino listings online
Fiona Davies Joins Global Digital Identity Verification Provider OCR Labs Global As Head of Gaming
Stakelogic Live now broadcasting in the UK
Yggdrasil and Northern Lights welcome furry friends in Prized Pets Gigablox™
Test your luck in OneTouch’s latest release Lady Fortuna
3 Oaks Gaming rolls out 50th title Aztec Fire
Thought Leadership/Q&A with Thomas Aigner head of business development at Ibex.ai discussing the future of CRM
Evoplay delivers thrilling sequel with Burning Aces. Jackpot
Stakelogic launches Super6Timer in the Netherlands
SoftGamings Set to Attend SiGMA Balkans/CIS Summit in Belgrade, Serbia
Altenar makes waves in Latvia with Casino 777 partnership
Allan Phang Departs From Galaxy Racer
Incentive Games Launched Multiple Free-to-Play Games with bet365
OddsGecko launches crypto betting odds comparison site
eSports4 days ago
CBBC announces new esports show: Game on Grandparents
Eastern Europe4 days ago
7777 gaming goes live at Inbet
Gambling in the USA4 days ago
Gaming Americas Weekly Roundup – August 8-14
Press Releases4 days ago
PRAGMATIC PLAY EXPANDS HOLLYWOOD BETS PARTNERSHIP INTO UK AND IRELAND
Press Releases4 days ago
UK betting technology supplier 20SHOTS accelerate funding with £400,000 raise at £5m valuation
Latest News4 days ago
Wazdan makes Dutch entry with Casino777.nl
eSports4 days ago
Quadrant extends partnership with Elgato
Latest News4 days ago
Push Gaming goes live with Play North