Ministry of Finance estimates that this move can bring a contribution of at least $200m in annual revenue to the state
The current state of the mobile and online sports betting bill is currently being drawn up in its final stages to be presented to Congress.
Although no exact timeline was given to when the bill will be introduced to Congress, officials are estimating that this proposal will be debated in the coming weeks.
After the document is set, the regulation will "prevent the participation of minors, increase tax collection and make the source and destination of the resources obtained through these platforms transparent”.
Furthermore, officials from different political parties have shown their support for the regulation on the basis that they consider that “there are enough [votes] in the Senate to move forward”.
The legalisation of this market would solve a lot of issues especially with regards to illicit games.
Senator Rabindranath Quinteros notes that "the illegal online gambling market is growing exponentially, even more so with the ban that casinos have been subject to because of the pandemic.”
By regulating this market, the country can benefit financially and provide a safe and transparent environment for residents to gamble on sports.
Malta Week - Save the dates:
For the first time ever SiGMA Group is bringing its 4 leading shows together for the mother of all conferences. From the 16th to 19th November, SiGMA, alongside AGS and AIBC will bring the best in the business to a first-class meeting point. Join us for the 7th edition of SiGMA at the MFCC - Malta Fairs Conventions Centre, and explore how you can benefit from being a delegate, a sponsor, an exhibitor, or a keynote speaker.