Most Popular Bookies in Malta

The most popular type of online gambling in Malta is sports betting. Betting accounts for more than 60% of all online gambling in the country. More than 80% of all the gambling companies registered in the country offer sports betting markets to take advantage of the popularity.

Malta has a long history of gambling. One of the most ancient gambling games played in the country was Cippitatu. The game involved a spinning top, on which punters would bet on how it would fall. Lotto was introduced in the country towards the end of the 17th century, which also became very popular. Several other forms of gambling came by gradually over several decades that followed.

Regulated gambling began in October 1922 following the enactment of the Lotto Act. Maltese players were already accustomed to lotto by then. The government used lottos as a yardstick to help them figure out how to regulate the gambling industry. Lotto Regulations were introduced in the same year. Several amendments were made to the Lotto Act over the years.

Online gambling took off in Malta in 2004. That was when the Maltese government introduced online gaming and betting regulations that gave betting providers a clear legal framework in which they could operate. The regulations were designed to set up Malta for success in the world of online gambling when many other countries had confusing and unclear rules.

The popularity of sports betting will likely continue growing among Maltese punters for several decades to come. That is because online sports betting has developed into a widely accepted culture across the small nation. The government also relies heavily on the revenue derived from the gambling industry. The chances are that it will continue to promote regulated gambling and make all necessary tunings to maximize the industry's income without unnecessarily exposing the citizens to the risks posed by irresponsible gambling.

The Maltese government is responsible for protecting players from the risks posed by irresponsible gambling. It is thus likely that new regulations will be introduced in the future to safeguard punters better. There have been rumors about the government introducing rules prohibiting punters from betting using international betting sites. The government might also increase the tax rates to discourage local punters from irresponsible gambling. However, nothing has been made official yet.

Bonuses in Malta

Almost all Maltese sports betting sites offer varieties of bonuses and other promotional offers. The extremely competitive nature of the betting industry in the country makes it essential for all betting providers to offer bonuses as a way of attracting and retaining bettors. The main differences are usually in the type and amount of the bonuses and the wagering requirements.

The Malta Gaming Authority (MGA), formerly the Lotteries and Gaming Authority, is Malta's primary gambling regulatory authority for both land-based and online gambling. The MGA's main responsibilities include ensuring transparency and fairness, averting corruption, crime, and money laundering, and protecting vulnerable persons. The MGA is also tasked with licensing betting operators as per the stipulated guidelines, monitoring licensee activities, ensuring compliance, protecting players' funds, and enforcing regulations.

The MGA is composed of six main entities. The main entity is the Non-Executive Board of Directors, which oversees the strategic development of MGA and ensures set strategic objectives and policies are achieved. The second entity is the CEO, responsible for the overall performance and execution of the MGA functions. The other four entities are the Executive Management Committee, Audit Committee, Supervisory Council, and Fit and Proper Committee.

Licensing

As mentioned earlier, Maltese laws require online betting operators to obtain licenses before offering their services. Getting a remote gambling license takes between four and six months. The application process entails five main stages. The MGA assesses whether the applicant is fit and proper to offer gambling services as per the rules and regulations stipulated by the laws. In addition, the MGA also must evaluate whether the applicant is financially and otherwise prepared to undertake the business as per the proposed strategy and meets all statutory requirements.

After issuing a license, the MGA will carry out several audits at random times, completed within 90 days after giving a notice. The first audit usually takes place within the first year of operation. The main purpose of the audits is to ensure compliance. The MGA reserves the right to impose fines for non-compliance to ensure licensees rectify any defaults, deter future non-compliance, and eliminate financial gains that licensees might have made through non-compliance.

Taxation

All sports betting operators licensed by the MGA are subject to the requirements of the license, which include taxation. The tax rate is 5% of the gross generated revenue per the relevant tax duration. The tax rates in Malta are relatively lower than in many other countries, which is another reason the country is the most popular among gambling operators globally.

All licensed gambling operators must pay a compliance contribution and various other applicable license fees to the MGA. The amount of compliance contribution is based on the amount of gaming revenue the licensee generates under the MGA license, calculated as per the Gaming License Fees Regulation.

Penalties

The Third Schedule to the Gaming Act outlines several criminal offenses related to all forms of gambling and the relevant penalties. The criminal offenses include the provision of services without relevant authorization, abetting such provisions, and failing to effect payments due to the relevant authorities. Guilty persons are liable to imprisonment of up to five years or a fine ranging between €10,000 and €500,000.

Match-fixing is considered an aggravated offense and has harsher penalties, especially when committed with the intention of profiting from the outcome. The law imposes a duty to any person with knowledge of match-fixing offenses to report to the Commissioner of Police.

Bank Transfer

Statistics indicate that direct bank transfer is the most popular payment method among Maltese punters. It accounts for about 36% of all payments made to online casinos and betting sites. That is mostly because paying via direct bank transfer is simple, safe, and convenient, especially when transferring from an online bank account.

Credit and Debit Cards

Credit and debit cards are the second most popular payment methods, accounting for approximately 27% of all deposits made to online casinos and bookies by punters. Most punters prefer using credit or debit cards because the payment process is fast and simple. It only requires filling in the card details on the betting site, and the transaction is processed instantly.

E-Wallets

E-wallets are the third most popular payment method among Maltese online bettors, accounting for approximately 16% of transactions. E-wallets are particularly popular for making withdrawals as most of the other alternatives do not support withdrawals from online betting platforms. There are numerous e-wallet brands that Maltese punters can choose from as per their preferences, but most operate using the same principles.

Cryptocurrencies

Many Maltese bettors also use cryptocurrencies to make payments to sports betting sites. However, the number of sports betting sites that offer the payment option is limited due to the high volatility nature of most cryptocurrencies. The payment process is also relatively more complex than other alternatives.