It’s no secret that online gambling is big business here in Malta. The iGaming industry has been reported as being worth up to 12% of the country’s GDP. However, what might be news to some is that sports betting is also very much on the rise alongside the more reported online casino. So what exactly is driving growth in the sports betting industry and how has it come to the point that we stand at today.
Sports Betting Sites in Malta Capitalise on Sports Growth
Perhaps the obvious place to begin when discussing the growth of sports betting in Malta is Maltese sport itself. The most popular sport in the country is obviously football and while the Maltese Premier League hasn’t exactly gone global in its appeal, the fact that teams have been reaching the later stages of qualification for European competition, including Ħamrun Spartans reaching the playoff stage of UEFA Conference League qualification, has created something of a surge in respect for Maltese sport.
This has been reflected in the kinds of sports that people can bet on at the best betting sites in Malta and further afield. For example, bet365, which is listed as the third-best of Malta betting sites at bestbettingsites.com, offers odds on the Maltese National League in basketball to customers across Europe. The fact that there is local interest makes it more likely that bettors from the islands will be inclined to get involved with sports betting. Yes, products like the Premier League, Serie A, and La Liga remain popular in Malta, but tangible ties to local sports will always provide a boon for the associated betting industry.
Numbers Key for Betting Sites Malta Hosts
Away from sport and drilling down into the underlying numbers in the sports betting industry in Malta, it is predicted that sports betting in Malta will reach an all time record in revenue. According to research by statista.com, the market is predicted to reach over €63 million in 2024 when the data is released. This would represent an increase of 2.2% based on 2023. This shows a healthy growth rate that reflects what can be seen on the ground in terms of a groundswell of interest when it comes to the sports betting section of the wider iGaming market.
While these numbers are definitely healthy, it must be noted that there is room for more success when looking at Europe as a whole. The continent’s online sports betting market is projected to achieve around 10% year-on-year growth for 2024. When compared with Malta’s numbers, it’s clear that it is perhaps not achieving the same rapid growth that other nations currently are. That is likely more due to the fact that Malta has had its own established market for some time now, where others are still dealing with one in its relative infancy.
Tech a Big Driver for Malta Betting Sites
It’s important to note that sports betting is becoming a much more diverse product than ever before. Not only are more leagues or competitions becoming popular across different markets – you only need to look at how the Saudi Pro League has made inroads in the European market for evidence of this – but more sports are becoming viable options for bettors to stake on. This may seem unusual to some, especially given that the best betting sites in Malta have always offered odds on the biggest European and world sports, but it might not to those who are more tech-savvy.
That is because sports betting sites in Malta are now looking to the world of computer gaming for a more expansive market. Competitive video gaming, or eSports, is fast becoming a huge industry. The biggest competitions are now offering prize pots that rival those in the big leagues. For example, the eSports World Cup in Riyadh, Saudi Arabia, had a $60,000,000 prize pot. When you consider that Maltese Premier League clubs are tripping over each other to qualify for Europe in order to gain access to a fraction of that amount, as covered here at maltafootball.com, it’s clear to see that it’s a market on the rise. Now, more and more of the betting sites Malta players choose are offering eSports odds.
What Next for Betting Sites in Malta?
It’s clear to see that there is very much a trajectory of growth when it comes to betting sites in Malta. It doesn’t appear as if it will slow down, either, with projections showing that there is still more to come. However, how much of this will be influenced by local sporting success or the growth of the eSports market is yet to be seen.