The online casino has proven to be an interesting solution for a population eager for entertainment Some might say that the world is going crazy at the moment. Most of us stay at home and that means we have to find new ways to entertain ourselves. This is also true for the people of Malta. The industry has boomed and is still growing at a rapid pace.
Are you also tired of staying at home these days? What do you do to kill time? If you've ever wondered how others entertain themselves while staying at home, you might want to take a look at the online casino business. This sector has seen huge growth, especially in 2020, and there seems to be no stopping it.
Malta, the Silicon Valley of the Online Gambling Industry
Europe MaltaMalta has proven to be the new starting point for online casinos. It has taken a lot of effort for Malta, a country of only half a million people, to find its place in the gambling industry. The Maltese government has paved the way for auspicious gambling laws and licensing requirements. There are currently over 300 gambling companies in Malta.
Online casinos must be licensed to legally gamble throughout Europe. While gambling taxes are a huge burden in most of the European Union, Malta maintains a minimal and understandable tax bracket.
The Malta Gaming Authority (MGA) is the choice of many and now occupies a highly respected position in the gambling world. An MGA licence is currently sufficient for most gambling operators to have a reliable profile.
This has been followed by many gamblers moving to Malta, as you even get incentives to move to the country.
Online Casino Trends in 2021
Over the years, the online casino has taken different forms. The traditional mode of land-based casinos is a thing of the past, as online casino operators in Malta are very popular these days, as their revenues are expected to reach $1 trillion by 2021.
There is a considerable upward trend in mobile and Virtual Reality (VR) games. The latter are especially becoming one of the new faces of the games industry. We envision a future where casinos will embrace VR, as all you need is a VR device to enjoy the games in a different but unique way. Cryptocurrency-based casinos and online sports betting are the next big areas that are expected to accelerate in 2021.
Why are online casinos so popular?
online casinoEven though people work from home, most of them still (fortunately) make as much money as they used to. Since most activities are impossible these days, people can't spend as much money as they used to.
What did people spend their money on? They used to go to the cinema, eat in restaurants, go on holiday, have parties and many other social activities. Because of the current world situation, all this is unavailable.
Is this a key factor in why online casinos have been so lucky in recent times? Maybe, it's hard to say. Maybe some people are using their hard-earned money for entertainment. Even if you win money at an online casino, it is primarily a form of entertainment. Movies don't have the same content, and it's hard to compete with the excitement of digital slots or roulette.