Malta Gaming Authority (MGA) has granted their very first official controlled B2B skill games licence to the Malta-based daily fantasy football operator Oulala Games Ltd.
Oulala, the award-winning fantasy football platform for API integration and a complete turnkey solution, has updated stakeholders announcing that they have reached their founder’s goal of being ‘regulated separately from other iGaming activities’, a goal they had set out to attain four years ago.
The B2B-focused company has stated that this MGA B2B approval represents an important corporate milestone.
Due to the lack of strategic regulation for fantasy sports, Oulala was unable to operate legally within the UK market and thus needed to acquire a remote gambling licence in order to operate there.
The MGA has been the first in Europe to recognise the impact of Daily Fantasy Sports (DFS) and a need for a special licence. Benjamin Carlotti, one of the co-founders and Managing Director at Oulala explains: “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”
The MGA has in fact spent over two years examining and working on a new licence category for controlled skill games which will allow a better European-wide regulation of DFS operators and industry needs, defining it as a game of skill as opposed to gambling.
Executive Chairman of MGA, Joseph Cuschieri commented: “The Malta Gaming Authority is pleased to be issuing a B2B licence for fantasy sports to OulalaGames Ltd under the new skill games regulations.”
Mr Cuschieri continued: “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.”
The controlled skilled licence is valid for five years and can be used for either B2C and/or B2B purposes and subject to a number of requirements, including segregation of operational and players.
Further to the update, Carlotti concluded: “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.”