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The role of online gambling for the Maltese economy

The role of online gambling for the Maltese economy

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malta

At a press conference it was announced about the future plans of creation the ‘best iGaming structure in the EU’ by the Maltese government and the Malta Gaming and Lotteries Authority (LGA). At the press conference a 4-years plan was present to the government authority by the Responsible of Gaming Foundation (RGF) and Dr. Jose Herrera, who is the secretary of competitiveness and economic growth in Malta. This plan comprised business as well as economic tendencies to help online gambling industry of the region.

The greatest part of the plan is concentrated on the particular gambling research in Malta. A special body, the Gambling Academy, will be created to begin the research and this body will absorb the Malta Gaming and Lotteries Authority.

The task of the academy will be to conduct a research studying gambling addiction and to find out the best ways for introducing responsible gambling for all the European gamblers. The backbone of these prospects will be the Responsible of Gaming Foundation.

With the report made by the Responsible of Gaming Foundation, Silvio Schembri, the member of Malta Parliament informed that no Malta-wide research was undertaken as to the gambling addiction, as the research was done mainly in the EU. The results are the following: from 0.5% to 2% of EU citizens suffer from gambling addiction.

As to the other data of the research, they inform that people of Malta play video or digital games approximately once a day for 1 hour. The report also stresses the possible effects of gambling on person’s health, interpersonal relations, finances, employment. It also claims that young generation suffers greater at a rate of 4 to 5 in comparison with adults.

The CEO of Maltese Gaming and Lotteries Authority, Joseph Cuschieri, has informed about the establishment of the new gaming body called Gaming Malta. The aim of this organization is to guarantee Maltese jurisdiction business and services related to online gaming.

After tourism, online gambling has become the biggest economic sector of Malta. Malta has become a home of more than 250 gambling institutions during the recent years. It provides more than 8,000 people with the working positions in the sphere. The announced changes were targeted to increase this part of the Maltese economy.

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