The daily fantasy sports industry has been a hot topic of debate in the United States for months now with individual states deciding whether to deem the activity as illegal or pass legislation to regulate the industry within their borders. It seems now DFS is being discussed in Malta with the Malta Gaming Authority recently making an announcement involving the contests.
The Malta Gaming Authority have decided that daily fantasy sports will be exempt from being required to have a gambling license. This decision marks the first step for Malta to move towards licensing framework for skill based gaming. Malta will be able to attract new operators and gain a stronghold in regards to DFS gaming within Europe.
MGA posted a press release which stated that with a view of the element of skill and knowledge that must be present in fantasy sports, the activity should be seen differently than games that are considered chance when it comes to licensing as well as regulation.
The Malta Gaming Authority has actually been working for several months to create a framework for licensing when it comes to the regulation of skill based games, which would include the fantasy sports category. This framework would put rules in place to determine if a game is considered a one of skill or controlled skill.
In a report by SBC News, Oulala.com’s CEO Valery Bollier, stated that the team of MGA has foreseen the rise of a future skill game industry for Europe years ago and Malta has proven to be a competitive jurisdiction due to pragmatism and ability to adapt quickly to the sense of history. Bollier also stated that the legal notice within the DFS industry is the first step in a process that will see Malta becoming the first major European country to offer a real skill game license, which is an exciting moment for the industry as well as Malta.
With the development of a skill game license, Malta will be the first European country to do so which means the entire DFS market of Europe will be attracted to the region and the country will be at the forefront when it comes to the DFS revolution. The actual framework for the licensing is expected to be passed in to law by the year’s end.
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