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iGaming sites accepts cryptocurrencies or bitcoins as payment mode owing to lack of transparency which makes it a bit outdated in comparison to other latest websites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.
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