iGaming industry future and scope

 

Everything is getting online, then why not play games online too. iGaming industry is rising these days and it is nothing but online games via means of internet. The gaming activities may also include betting (mainly sport betting) like casino games, NFL wagering, poker games and many more. The reason for a fast-paced development in the industry is basically technological advancements and rise of internet in our lives. There are many iGaming sports but the most widely popular ones are there in Malta which makes Malta iGaming industry one of the most influential industries in the country. Like any other industry globally, there are certain regulations put forth by Malta gaming authority to prevent scams and forgery. 

Malta iGaming industry 

Online betting and gambling is among the most popular means of raising money through internet. As the licensing become more and more prominent, the expansion of such games also increased, as a result, Malta too started granting gaming license to gambling operators. This led to sudden expansion and growth of the country’s economy as well.  Today the iGaming industry is one of the major employment sectors in Malta and this bring in consistent revenue as well. One of the prominent reasons for increased foreign investors in the region is this gaming sector. In Malta, this gambling industry is regulated by Malta gaming authority by the name of Lotteries and Gaming Authority or LGA.

Challenges faced by iGaming industry 

Owing to the technological advancement, the future of online games and betting seems quite prosperous, but with advancement, the challenges too are high. The industry has faced its share of challenges in the past, present and the future seems to be quite similar. These are detailed below:

• Regulations – Betting or gambling of any form is not legal to play in many parts of the word. These regulations may not be applicable to some but these can change anytime posing a big threat to the industry
• The Gen X is more attracted towards hard core games like PUBG, GTA etc. and the age-old casino games are taking a back seat among the new generation. This is a threat to iGaming industry as this strives on these young lot
• Not many iGaming sites accepts cryptocurrencies or bitcoins as payment mode owing to lack of transparency which makes it a bit outdated in comparison to other latest websites
• The level of competition rises with the rise of the industry =, hence the survival rate is low

Future of iGaming industry 

iGaming is a billion-dollar industry that yields a good amount of revenue. In the coming decade of years, the rise of the industry is even bigger, provided the challenges are waived off. The challenges however don’t overweigh the pros, but still the industry needs to maintain this steady growth to have a bright future. Not only in Malta, but the technology is expanding at fast pace globally, which is advantage for the gaming industry. Interesting games interfaced with augmented reality, Artificial Intelligence etc. will contribute to the growth and new benchmark for the iGaming industry.

Malta Trust

 

Malta Trusts have gained momentum since the enactment of the Trusts and Trustees Act in 2004. Prior to this date, trusts were not recognised under Maltese law, since the Maltese private law is largely based on the Civil Law tradition.

The key players in a Malta Trust are (i) the Settlor being the person or entity settling assets on trust, (ii) the Trustee who can be a professional trustee licensed by the MFSA or, in the case of private family trusts, the trustee can be someone related or known to the settlor and finally (iii) the Beneficiaries who can be named beneficiaries or form part a class of beneficiaries. A Malta Trust also allows for the appointment of a Protector.

Malta Trusts can be set-up as private trusts to cater for family interests including estate planning or for charitable purposes. Malta Trusts can have a fixed interest or discretionary, the latter allowing the Trustee discretion in relation to the appointment of beneficiaries and/or the extent of the benefit to which such beneficiaries are entitled.

Malta Trusts offer an effective and flexible instrument for estate planning since the drafting and preparation of the trust is tailor-made to cater for the particular needs of the case at hand. A Malta Trust can be set-up to operate inter vivos, that is, during the lifetime of the settlor, or alternatively, as a testamentary trust that operates causa mortis, on the incidence of the demise of the settlor. A Malta trust may be created verbally, in writing, by operation of law or by a judicial decision.

Malta Trusts can also be set-up as commercial trusts and can be used in collective investment schemes and in security offerings as security trusts. In the case of commercial trusts, a more extensive degree of latitude and flexibility is afforded in the set up of the trust insofar as the terms of the trust are determined from the ad hoc trust deed which reflects the contractual agreement of the parties, whilst also stressing the security and certainty which is required in the commercial context. The regulation of commercial trusts is adept to the needs of the commercial world, and has been conducive to the proliferation of trusts in this field.