June 11, 2014
Where are the best places in the world to work in iGaming? We round-up the best opportunities and lifestyles on offer.
Relocation can be a great option for people looking to seek out new opportunities and push their career to the next level. The iGaming industry is thriving in certain locations, driving a lot of people towards these areas to work. Pentasia operate worldwide, recruiting for different sectors and level of positions. With our industry knowledge, we can advise you on your options for relocation and explain the potential benefits as well as any issues.
In Europe, iGaming regulation is well advanced with a number of territories such the United Kingdom, Malta, Gibraltar and the Republic of Ireland offering licences that permit operators to offer their products to the public. Many other countries offer regulatory frameworks for iGaming businesses to offer products online. In South-East Asia and Oceania, licencing countries include Australia, New Zealand, Philippines while in Africa South Africa, Nigeria and Uganda also provide for regulated online gaming.
We have picked a selection of some of the top hubs for iGaming to explain what makes them so attractive to operators.
The UK has one of the most established online gaming industries, including sports betting, poker, bingo and lotteries. For many years, the UK has maintained one of the most progressive regulatory frameworks for online gaming in the world.
UK operators are soon expected to obtain UK licenses and implement a 15% point of consumption tax, causing UK companies who operate offshore to pay a 15% tax on gross profits instead of the former 1%. There are still however many benefits to working in UK’s iGaming industry. The UK’s licensing structure is key to preventing many types of problem gambling and ensures that online gambling is fairly carried out. All types of online gaming such as poker sports betting, casino games and online slots can be offered by operators in the UK.
Living and working in Malta holds a great many benefits for the expat worker. The country has a developed economy with established financial and commercial sectors and is one of the main hubs for the European iGaming industry.
Over the past 14 years, Malta’s iGaming industry has grown significantly. Since regulation passed in 2004, Malta has allowed online operators to grow their businesses in a safe and operator friendly environment.
The iGaming industry in Malta is still very attractive to operators as the country is stable both politically and financially, offering them great peace of mind. While many other member states have had infringement procedures instituted against them, Malta’s remote gaming regulations are approved by the EU and their licenses are completely legal at Maltese and EU levels.
Gaming taxes are also something that sways in Malta’s favour. The country does not over tax operators as they understand that it prohibits companies from reinvesting and growing. Lower income tax and low cost of renting and buying accommodation are also important factors to consider when thinking about relocating to Malta. There are as well of course excellent careers for English speaking professionals, with little compromise on salaries.
Working in Gibraltar is an excellent career choice, especially as the economy is doing well and the job market has picked up dramatically recently. Gibraltar has a tax system that has attracted many companies to be based there. The online gaming industry in the country is particularly successful because of this but there are also lots of opportunities in the financial, IT, Legal and banking sectors.
Gibraltar’s iGaming industry employs thousands of people and has become its largest employer and tenant. The Licensing Authority grants a number of different gaming licenses, such as the bookmaker’s license, gaming machine license and betting intermediary’s license. Licenses are granted to operators who have a proven track record anf good financial standing.
Relocation to this area has other benefits of course, in terms of lifestyle change. It is an excellent choice whether you decide to live in Malta or in a nearby Spanish town.
Isle of Man
The Isle of Man has a growing economy, political stability and political independence. There is the opportunity for English speaking professionals to develop great careers, with no compromise on salaries compared to the UK.
The Isle of Man is one of the most respected licensing jurisdictions for online gaming in Europe. The island is “White Listed” by the UK and the OECD for iGaming and tax cooperation purposes, which allows Isle of Man licensees to advertise to the UK market.
The three options for iGaming licenses are full OGRA Licenses, Sub-Licenses and Ile of Man Network Licenses. Since 2010, the Island has made it legal for operators to carry out non-gambling related activities such as marketing, disaster recovery and software without the need of an Online Gambling Regulation Act 2001 license.
It must also be mentioned that one of Isle of Man’s greatest assets is its extremely favourable tax framework featuring, with no capital gains tax, no stamp duty and a top personal income tax rate of 20%.
New Jersey became the second state in the US to authorise licensed and regulated online casinos back in 2013. They are the third state to authorise licensed online poker rooms.
Since the expansion on iGaming in the US, our clients have focused their recruitment on building marketing teams, across Digital and Branding in particular, and operations teams centred on Risk and Fraud prevention.
It is a really exciting time for this state, among others for the iGaming industry. With new businesses looking to enter the Online Gaming market in the United States imminently and further States introducing regulation in the near future, we have plans to expand our presence there exponentially.
Feature image credit: Daniel Sjöström on Flickr