Wednesday, August 10, 2016
The Malta Gaming Authority has announced that through a newly issued legal notice, Fantasy Sports are being exempted from requiring a gambling license.
“The Authority 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. This relates specifically to fantasy sports where players choose virtual representations of real-life athletes, where the value and points attributed to an athlete reflect the athletes’ performance in actual sporting events, and where the outcome is determined predominantly by skill and knowledge rather than by chance. The Authority also took the position that such games still warrant regulatory intervention which is appropriate and proportionate to address the level of risk presented to the consumer.”
Read the full MGA notice here.