Malta Gambling Receives a Boost from the EU
As the controversy over online gambling bans continues, the Maltese government will be very happy to hear that the EU has no plans to replace them as the hotspot for EU online gambling. In fact the EU has declared that the Malta Lotteries and Gaming Authority (LGA) should be able to push further and further into EU markets under the legislation for free trade within Europe.
Malta has become one of the major gambling jurisdictions in the world with many companies attracted by their corporate friendly tax laws. There were some concerns that the EU may try to set up a new central regulator and take away the ever increasing tax income which is being paid to the Malta authorities.
This will put the EU at loggerheads with a number of prominent member states, many of which have already instigated procedures and laws to safeguard their own gambling markets. It is also a blow to the UK authorities which for some time have tried to place themselves at the top of the Gambling Regulatory table–even though the domestic gambling regulations are something of a farce at the moment.
The next few years will be vital for the future of online gambling with more countries likely to be upset by the EU Authority’s comments. Many are now expecting a period of reflection with some countries agreeing to a number of compromises to protect their own interests.
There have been few industries in the past which have caused so much confusion, friction and controversy as online gambling. Many countries are only just realising exactly what is at stake and the millions of pounds which could literally be slipping through their fingers.
