Malta Aims To Regulate Daily Fantasy Sports Out of Europe

Written by:
Guest
Published on:
Aug/29/2016

Malta – Malta Gaming Authority (MGA) recently announced that daily fantasy sports is exempt from the requirement of a gambling licence. The first step towards the skill-based licensing framework will likely take Malta to the centre stage of DFS action in Europe, and will attract an influx of new operators to this tiny Mediterranean island.

In its press release, MGA stated that in view of the element of skill and knowledge involved in fantasy sports, such an activity should be differentiated from games of chance in terms of licensing and regulation.

According to the recent notice Fantasy Sports (Exemption) Regulations, 2016, ''Fantasy Sports'' and, or ''Fantasy Sports Game'' is a contest played for money or money’s worth whereby the winning outcome is determined predominantly through the skill or knowledge of the player, and where the results are determined by the accumulation of statistical results of the performance of a number of individuals in sporting events, but shall not include the forecast of the score, point spread or any other future occurrence of one or multiple events, and for the avoidance of doubt, the definition of a 'bet' ’ as defined in the Act shall not be applicable''.

The legal notice, similar to the notorious US Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA), follows in the footsteps of several US federal states where regulatory bills have already been introduced.

''MGA's team had foreseen the rise of a future Skill Game industry in Europe a few years ago,'' said Valery Bollier, CEO of Malta-based operator Oulala.com. ''Malta has proven to have a very competitive jurisdiction because of its pragmatism and its ability to adapt itself quickly to the sense of history.''

The Maltese gaming regulator, whose main goal is to protect customers, has been working several months now on the licensing framework to regulate skill-based games, including fantasy sports, which will also set the rules for determining whether a game is a ''Skill Game'' or a ''Controlled Skill Game''. The framework is expected to be passed by the end of this year.

''This legal notice is the first step in a process that will see Malta become the first major European country to offer a real skill game licence. It is therefore a very exciting moment for our industry and for Malta,'' revealed Bollier. ''Malta being the first major European country to offer a skill game licence means it will attract the attention of the entire European DFS market and place itself firmly at the forefront of the DFS revolution.''

Gambling News

MGM China Now Joins Hands With Fighters Of Modern Day Slavery In Macau

MGM China Now Joins Hands With Fighters Of Modern Day Slavery In Macau

MGM China, a facility that is under MGM Resorts is joining hands in the fight of modern-day slavery.  The casino signs a deal to take part in ending the slave and sex trade to show its commitment. 

Bovada Jackpot Triggers Twice in Three Days

Bovada Jackpot Triggers Twice in Three Days

It's been a big week in the world of jackpot wins.  Just the other day, Detroit's Motor City Casino recorded the biggest bad beat jackpot win ever with six  players splitting $427,452 and now comes word of some big jackpot wins at Bovada

2018 ICE London Affiliate Show Vows to Treat Women With Respect

2018 ICE London Affiliate Show Vows to Treat Women With Respect

The #MeToo movement will make its way into the online gambling affiliate sphere in three weeks with organizers of ICE London vowing to ensure a more respectful environment for women while operators and exhibiters were scrambling to clean up their acts.

FBI Investigating New 'Person of Interest' in Vegas Mass Shooting

The US Federal Bureau of Investigation is looking at a new person of interest in connection with the October mass shooting at a concert in Las Vegas that left 58 people dead, the county sheriff said.

Online Gambling Affiliates Value Report: Trada Affiliates Tops List

Online Gambling Affiliates Value Report: Trada Affiliates Tops List

ThePOGG.com is proud to announce their affiliate program value report for 2017. The purpose of the report is to share with the webmaster community and gain an insight as to which affiliate programs perform the best and ones that are below average.

Syndicate