B2B fantasy sports platform provider Oulala Games (Oulala.com) has been awarded the first ever Malta Gaming Authority (MGA) ‘B2B Skill Games Licence’.
Updating stakeholders, Oulala management stated that the MGA B2B approval represented an ‘important corporate milestone’, as the company had set-up a founders’ goal to be ‘regulated separately from other iGaming activities’.
To date, Oulala UK market initiatives have been serviced by a remote gambling licence due to lack of strategic regulation for fantasy sports.
“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” stated Benjamin Carlotti Co-founder & Managing Director of Oulala.
Updating the market, the Malta MGA informed that it had spent two years examining provisions for its new B2B skill games licence, allowing for better European-wide regulation of fantasy sports operators and industry needs.
The Malta Gaming Authority is pleased to be issuing a B2B licence for fantasy sports to Oulala Games Ltd under the new skill games regulations” commented 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.”
Oulala is awarded a controlled skill game licence, which can be used for either B2C and/or B2B purposes, is valid for five years, and is subject to a number of requirements, including segregation of operational and players.
Further to the update Benjamin Carlotti added “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.”