News
The Real Worth of Malta’s iGaming Industry
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The original source of the information found beneath was created by Rebecca Anastasi (MaltaChamber.org.mt) – View original source here.
Malta’s iGaming sector contributes over 12 per cent of the country’s GDP. Does it have a knock-on effect in the economy?
The official figures about online gaming industry reveal overall prosperity, high employment and revenue rise. Its worth is estimated roughly to be €1.2 billion, or over 12 per cent of its GDP. However, but these direct effects tell only part of the story. The iGaming industry has also positively affected the other industries in the country as well.
Leisure and entertainment
The rise of iGaming has “coincided with the increase of affluent business professionals on the island”, according to Jon Grafton, Creative Marketing Manager for Azure and Azure Ultra – an outfit which organises yacht charters. Mr Grafton says that the industry sees chartering a yacht “as an ideal way to spend leisure time and de-stress.” He estimates that around 20 per cent of Azure Ultra’s business comes from those involved in iGaming, from professionals seeking to book a private charter or from businesses organising team-building exercises. “The increased demand has had a positive impact on our bottom line, which we plough back into the business through purchasing more yachts and employing more captains and crew,” Mr Grafton explains.
Indeed, as a result of the increased business, the agency has created tailor-made charter packages for the sector, since “iGaming-oriented bookings tend to include a lot more special requests in terms of cuisine, water-sport activities and themed itineraries, such as famous film locations around the Maltese archipelago,” he says. Moreover, the company has had to become more flexible to accommodate last-minute changes, and bookings, in order to keep up with the demands from the sector. The team also now includes a specialist charter executive “who is a wiz at creating bespoke charter packages.”
While Azure is experiencing an increased demand for specialised on-board catering and services, such as massages or water-sports instruction, which do come as an extra cost, it is careful to ensure that its prices are fair. “Our prices are always right because we – quite uniquely among Malta yacht charter companies – own our own yachts and they’re all fully insured,” Mr Grafton says. In the future, the company plans to keep building on this success, offering corporate conference packages at sea. “iGaming has a great need for variety and excitement, and that’s what we’ll offer,” Mr Grafton asserts.
Back on dry land, catering establishments in the main entertainment areas of Valletta, Sliema and St Julian’s seem to be constantly pounding with patrons, with tables often difficult to secure, unless you have a booking. Robert Bonnici, PR and Marketing Manager for the ubiquitous Hugo’s brand, underlines this “positive effect” on the industry. Not only do professionals working in the iGaming sector “frequent our venues on a regular basis, but their spend is often much higher than average,” he explains. Moreover, there has been a demand for corporate functions and private events catering to the local and international iGaming community according to Robert.
Andrew Galea, the Sales and Marketing Manager of hotel Group Corinthia, adds that while the company picks up some business for corporate and social events, as well as some hotel bookings for visiting delegates, the business accrued during industry conferences, such as Sigma, is what really makes a difference to the company’s bottom line, with many delegates staying in the hotel. Indeed, the remote gaming sector is a market the Group is very interested in. “We are currently in the process of promoting the range of services Corinthia possesses, not only in terms of hotel rooms, but also ancillary entertainment services such as restaurants, bars and event venues,” Mr Galea says.
IT infrastructure
As a sector which relies heavily on technology, iGaming requires high-level resources and services. Computime Software, a company which specialises in providing IT infrastructure, software and business solutions, is one stakeholder which supplies such products and capabilities to businesses operating in Malta’s online gaming industry.
John Wood, the company’s CEO, says that the company has seen a positive multiplier effect arising from the increased business with iGaming companies. “The sector attracts large multinational iGaming operations which create demand for the software and infrastructural solutions which we deliver,” he states, going on to assert that this accounts for “currently, approximately 15 per cent of our revenue.” The most common solutions on-demand are IT engineering and infrastructural solutions, IT security products and services, and software solutions focused on compliance monitoring and marketing optimisation, he explains.
He also notes that iGaming clients demand sophisticated solutions and, as a result, the market “provides us with an opportunity to develop our business, and to adapt our solutions by widening our product portfolio with a clear focus on servicing iGaming companies.” Indeed, he explains the changes in the type of solutions the company is currently offering, specifying that Computime is customising its software solutions to meet the specific demands of the iGaming sector, enabling them to deliver a quick return-on-investment to their clients. Other changes the company has instituted include adapting its client onboarding process to make sure “we only do business with reputable and established iGaming companies”, allowing the company to better manage its payment and credit terms, along with the other business risks inherent in such an enterprise.
Insurance
The meteoric rise of the iGaming industry has also resulted in a demand for ancillary corporate services in a variety of fields such as insurance. “Remote gaming has provided a lot of potential to prove our mettle in managing the varied and sometimes complex insurance requirements that the Gaming industry needs,” says Malcolm Ellul, Associate Director of Mediterranean Insurance Brokers, specifying that it now manages a sizable gaming portfolio, which is growing rapidly in size.
While Mr Ellul admits it is hard to establish the percentage of MIB’s business derived directly from the iGaming sector, he claims that the requirements are broad and range from “the direct insurances taken out by the business operators themselves” to “affinity and benefit schemes for employees.” In the future, the company hopes to attract even more interest, and, to this end, it has started attending Gaming-related conferences locally and overseas, and “plans to remain a market leader in providing insurance arrangements for the gaming Industry” since “gaming falls within the natural growth process of the Group,” Mr Ellul asserts.
Indeed, this seems to be the trend, for as Malta continues to attract further investment in the field of iGaming, businesses in attendant sectors are gearing up to continue offering the specialised resources to the sector, thus enabling Malta to retain its competitivity and its winning streak.
Source: MaltaChamber.org.mt
The iGaming industry is advancing at breakneck speed, driven by technological innovation and evolving player expectations. Itai Zak, Executive Director of iGaming at Digicode, emphasizes the importance of bridging client aspirations with customized business solutions. Key trends shaping the future of iGaming include live dealer games, blockchain integration, artificial intelligence (AI) and machine learning (ML), enhanced personalization, and shifting regulatory environments. Let’s delve into how these trends influence the industry, presenting new opportunities while paving the way for future growth.
A Closer Look at Emerging Trends
- Live Dealer Games
Live dealer games are revolutionizing the online gaming experience, blending the best aspects of land-based casinos with the convenience of virtual gaming. Players can now engage with real-life dealers via high-definition video streams, enhancing the social component of online gambling. This bridge between physical and virtual casinos introduces interactive features like live chat and immersive gameplay. Industry leaders like Evolution Gaming and NetEnt are setting new standards in player engagement with innovative game formats and top-tier studio setups, redefining the realism and appeal of live gaming.
- Blockchain and Cryptocurrency Integration
Blockchain technology is transforming iGaming by offering unparalleled transparency and security. With blockchain’s ability to enable provably fair gaming, players can verify that each round is fair via an immutable ledger. Cryptocurrencies like Bitcoin and Ethereum facilitate faster, more secure transactions, catering to tech-savvy players who value privacy. Platforms like Bitcasino.io are leading the way, leveraging blockchain to ensure fairness and seamless payments. However, the rise of blockchain also attracts regulatory attention, requiring operators to balance innovation with compliance as governments navigate this new technology.
- Artificial Intelligence and Machine Learning
AI and ML are instrumental in enhancing player experience and operational efficiency. AI algorithms analyze player behavior in real-time, offering personalized game recommendations and promotions. Additionally, AI-powered chatbots provide instant customer support, improving user satisfaction. AI-driven predictive analytics also help operators fine-tune marketing strategies based on player preferences. Companies like Bet365 are already using these technologies to stay ahead of the competition, offering more personalized and efficient gaming experiences.
- Richer Personalization and Engagement
Personalization has become crucial for iGaming operators looking to boost player satisfaction and retention. By leveraging data analytics, companies can offer tailored game recommendations, dynamic bonuses, and individualized promotional offers. This level of engagement enhances the player experience and strengthens loyalty. Industry pioneers like DraftKings and FanDuel push the envelope by offering highly customized features, such as personalized fantasy sports leagues and bespoke betting options.
- Regulatory Changes and Market Expansion
The constantly evolving regulatory landscape offers both challenges and opportunities for iGaming operators. As more regions legalize various forms of online gambling, companies gain access to new markets. With their large populations and increasing internet penetration, emerging markets like Brazil and Nigeria represent lucrative opportunities. However, navigating the diverse regulations in these markets requires agility and strict compliance with local laws to succeed.
- Enhanced Payment Solutions
With digital transactions becoming the norm, the demand for fast, secure, and flexible payment methods is skyrocketing. From digital wallets to instant banking and cryptocurrencies, players expect payment solutions that offer convenience and security. This growing demand is driving innovation in payment processing, giving operators more opportunities to streamline the transaction process while building trust with users.
Future Implications
The Expanding Role of AI and Blockchain
AI and blockchain are not just current trends, but they are poised to play an even more significant role in iGaming’s future. As AI technology evolves, more sophisticated algorithms will emerge, enabling real-time adaptation to player behavior and preferences. Blockchain’s application may extend beyond transparency and security, transforming game mechanics and player interactions potentially redefining how games are designed and played.
Shifting Player Preferences
Player expectations will continue to evolve toward immersive, interactive experiences. As Virtual Reality (VR) and Augmented Reality (AR) become more mainstream, they will significantly influence the future of iGaming. Players will demand more engaging, lifelike environments, pushing the industry to create innovative game formats and features that offer deeper immersion and entertainment value.
Regulatory Developments
The regulatory environment will continue to evolve, and iGaming operators must stay agile to navigate future changes. New regulations may increasingly emphasize responsible gaming and player protection, influencing platform design and operational practices. A more harmonized regulatory framework across jurisdictions could provide stability while requiring operators to prioritize compliance.
Integrating Emerging Technologies
Technologies like 5G and edge computing are set to revolutionize iGaming by enabling faster, more reliable connectivity. This will allow for more complex game designs and real-time player interactions, opening new avenues for innovative gaming experiences. As these technologies mature, operators will have greater opportunities to differentiate their offerings. The potential of these emerging technologies to revolutionize iGaming is truly exciting and promising for the industry’s future.
Final Thoughts
The iGaming industry is on the cusp of significant transformations, driven by technological advancements and shifting player demands. Innovations like live dealer games, blockchain integration, AI, ML, and enhanced personalization are just the beginning. As the industry evolves, staying ahead of these trends will be critical for operators looking to thrive in an increasingly dynamic environment.
At Digicode, we are constantly exploring new technologies and refining our solutions to meet the evolving needs of our clients. Our focus on adaptability and foresight ensures that our clients are not just keeping pace with the industry—they’re leading it.
The post Innovations Redefining iGaming: What Operators Need to Know appeared first on European Gaming Industry News.
A partnership between game developer Turbo Games and iGaming solution provider and aggregator Slotegrator began in November 2022 via the APIgrator game integration solution. Since then, the collaboration has been developing successfully — and now it’s time to analyze what made it successful.
Turbo Games has noticed how the new technologies spreading throughout the industry can work for the good of brand transparency and player loyalty: “We can already see how blockchain technology has made it possible to make betting checks more accessible to players. All you need is a blockchain-hash and a decoder service. We think we will continue to move in this direction. Many traditional online casinos do not offer the possibility to check the bet. Sooner or later we all have to come to this. Perhaps the development of artificial intelligence will help here, because we are already seeing its involvement in all spheres of human life.”
Turbo Games specializes in provably fair games. Provable fairness is a concept where players can verify their wins or losses using blockchain technology — the outcome of the game is dictated by a smart contract and is absolutely random, barring the possibility of any human involvement. Using cryptographic hashing algorithms, the gambling site and the player’s device both generate seeds (random strings of numbers). Players receive a key that allows them to check the results; if the results are the same as the game round they witnessed, it proves that there was no foul play.
According to statistics from Turbo Games, the audience for provably fair games is mostly between 18 and 25 years old. However, there are also players aged 35-40 who prefer traditional games but would like to try something new, and have turned their attention to provably fair games.
There are good odds that the technology of provably fair games will become more popular, if not even commonplace, because it gives players a feeling of transparency and proves that the business is trustworthy without the need to search through dozens of reviews. Whereas many innovations in iGaming simply add entertainment, provable fairness addresses security concerns and reassures players that they’re not being exploited, which is invaluable.
Provably fair games are beneficial for both players and online casinos. Vadim Potapenko, Head of Sales at Turbo Games, comments: “It often happens that the users are not satisfied with the result, because gambling is not only about big wins, but also possible losses. By allowing them to check the fairness of a bet, we make life easier for platforms and players. Of course, this allows us to communicate with partners and users that we work honestly and that’s why they should trust our games.”
Ayvar Gabidullin, Business Development Manager at Slotegrator, adds that “this type of game is now becoming more and more popular and has great potential for both players and game providers in the future. On the part of the player, the advantage is that the player can always be sure that his game is fair and he can independently check any of his bets. And for the game provider, this also simplifies the process of implementing casino games, since now it will not be necessary to obtain the appropriate certificates from independent laboratories before launching new games, they can immediately enter the market with these games and where anyone can check the result and make sure that that there is no cheating with players. Many game providers are starting to look towards this type of game. And as far as I see, many operators are starting to think about adding these games.”
What do players in 2023 need? The iGaming industry is all about reputation and trust. Players have a huge number of platforms to choose from, making them pickier and pickier. There’s an abundance of forums where players leave reviews, so if players view a brand as untrustworthy, there are plenty of places they can share their opinion. Provable fairness not only stops that from happening, it provides evidence to the contrary, giving players something else to talk about.
Slotegrator also recommends investing time and effort into localization and creating an effective and detailed marketing strategy — before trying provably fair technology players need to get to the platform, and there is no acquisition without marketing.
ABOUT SLOTEGRATOR
Since 2012, Slotegrator has been one of the iGaming industry’s leading software and business solution providers for online casino and sportsbook operators.
The company’s main focus is software development and support for online casino platforms, as well as the integration of game content and payment systems.
The company works with licensed game developers and offers a vast portfolio of casino content: slots, live casino games, poker, virtual sports, table games, lotteries, casual games, and data feeds for betting.
Slotegrator also provides consulting services in gambling license acquisition and business incorporation.
More information: https://slotegrator.pro/
ABOUT TURBO GAMES
Turbo Games — a provably fair games provider that belongs to Turbo Stars company — has an ambitious goal to establish widespread recognition throughout the iGaming world. Even though it is young, the company consists of professionals who have been working on the brand for over five years and are even planning to introduce a new brand for a wider audience soon.
Turbo Games also works in Europe, India, and South Africa, where the company sees the most potential and expects the same “hype” as in Brazil.
The portfolio of Turbo Games consists of 21 titles, including well-known games like Mines, Crash X, DoubleRoll, Hi-Lo, and Plinko. The studio releases a game every month. However, not all games are developed from scratch. Wicket Blast and Spin Strike, the last two releases, are based on cricket and the Indian Premier League. Crash X remains the most popular fast game in the Turbo Games portfolio, and the studio reports that crash games enjoy stable levels of popularity. Overall, the main focus of the brand is provably fair games.
More information: https://turbogames.io/
Looking to take your career to the next level in the games industry? Then, Nordic Game Talents is the place to be! Games Factory Talents has teamed up with Nordic Game to bring you Nordic Game Talents.
From Oct 27-29, the online and interactive event is dedicated to recruitment and career building in the creative & games industry within the Nordic region. The event empowers participants to be part of a bigger community and motivates them to explore new paths in achieving their career goals.
Hiring creative & games studios – Supercell, Funcom, Panzerdog, Tactile Games, Gamecan, Fingersoft, Dazzle Rocks, Redhill Games to name a few from the Nordic region will be participating in the event. These studios will share information on their latest projects, work culture and what it takes to be part of their team. The individual games associations from Finland, Denmark, Sweden, Norway and Estonia will share insights through live sessions on the booming games industry in their respective countries. Career development topics pertinent to job seekers like – How to have a successful first interview, Creative Portfolio reviews will also be discussed.
Experienced game industry professionals and individuals beginning their careers from around the world are welcome to join the event. One-to-one interviews with the hiring studios can be scheduled through the event platform. A great opportunity to get to know the studios and network with game professionals from around the world.
Participating in the event
As a job seeker attending Nordic Game Talents, take a few minutes to fill out a simple registration form. After filling the registration form you will receive a link to the online event platform – PINE, to join the event on 27th October. Participants joining Nordic Game Talents will also receive a free-of-charge pass to the Nordic Game Conference.
To view the complete agenda, please click here and to learn more about the event please visit Games Job Fair
About Games Factory Talents
A Helsinki-based talent attraction agency dedicated to the games & creative industry. Our services include direct recruitment, organizing game job fairs and managing a community of game industry professionals through our GameDev Talent Board.
To learn more about Games Factory Talents visit – Games Factory Talents
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