Malta regulations. The Malta Gaming Authority (MGA) announced the creation of new regulations for skill based games. All operators are eligible to apply for a Controlled Skill Games license. According to the association, the new license can be legally used in countries that haven’t explicitly said that DFS falls under an existing legislation.
The regulator also established that from now on daily fantasy sports (DFS) will fall into the controlled skill games category. In view of the above, the Authority is hereby exercising this power to deem fantasy sports as controlled skill games. The ruling on fantasy sports, and the parameters thereof, are attached. The effects of this ruling, together with the repealing of the Fantasy Sports Regulations, are that such fantasy sports operators are required to acquire a controlled skill games license from the Authority.(READ SO OHIO MOVE THRU FANTASY SPORTS DIRECTIONS)
DraftKings co-founder and CEO Jason Robins, said: “We are excited to embark on this important phase of our international expansion. We are pleased that Malta has recognized the need for special licensing of daily fantasy sports and other skilled based games.” It is important to point out that DraftKings were the first one to operate its DFS services in Germany. (READ SO THE MERGE OF TWO GIGANTS WILL COME TRUE IN 2017)
“The Malta Gaming Authority is an innovative organization and it is clear that they have put a lot of thought and rigor into this process,” added Robins.
A controlled skill games license may be a license to provide a service for the purposes of engaging with end consumers, or a license to provide a supply, that is, in a business-to-business capacity. The license is valid for five years, and is subject to several requirements, including a procedure to ensure that the persons behind the business are fit and proper, financial and system auditing to ensure that the operation is fair, sound and secure, and other measures to prevent fraud and money-laundering, a consumer-centric approach to the business, a high level of information security and segregation of player funds.
Here, you can find attached both documents, Skill Games License Leaflet and Controlled Skill Game Ruling – Fantasy Sports.
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