Oulala.com, the daily fantasy sports (DFS) platform provider, has been handed the first official controlled B2B skill games licence from the Malta Gaming Authority (MGA).
The Malta-based B2B-focused operator said it had to acquire a remote gambling licence to operate legally in the UK simply because of “the lack of proper regulation”.
Oulala said the development was the culmination of a target it set four years ago to “be regulated separately from other iGaming activities”.
“The authorities in Malta were the first in foretelling the impact of DFS’s potential in Europe, and the MGA was in fact the first regulator to acknowledge our needs,” said Benjamin Carlotti, Oulala co-founder and managing director.
“We are incredibly proud to be participating in the development of a licensing framework that regulates skill-based games, fantasy sports included. This was a highly significant step in the right direction, and our hope is that other European regulators will soon follow suit.”
The MGA spent more than two years working on a new licence category for ‘controlled skill games’, which specifically regulates DFS and defines it as a game of skill.
A controlled skill game licence, which can be used for B2C and/or B2B purposes, is valid for five years, and is subject to a number of requirements, including segregation of operational and players' funds.
“The MGA is pleased to be issuing a B2B licence for fantasy sports to OulalaGames Ltd under the new skill games regulations,” said MGA executive chairman, Joseph Cuschieri.
“Malta's regulatory framework ensures a high standard of player protection and game fairness whilst allowing operators space for growth and innovation. It is for this reason that operators such as Oulala have chosen Malta as their primary place of establishment.”
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