CEO hopes other regulatory authorities will follow suit
Daily fantasy sports platform provider Oulala.com has been awarded a B2B controlled skill games license by the Malta Gaming Authority (MGA).
Oulala co-founder and chief executive officer, Benjamin Carlottie, considers the MGA forward thinking in the creation of the new license category, a process the authority began almost two years ago.
''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,'' Carlotti said.
''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 controlled skill game license may be used for either B2C and/or B2B purposes. It is valid for five years, and subject to a number of requirements, including segregation of operational and players' funds.
"…the millennial generation is expecting social skill games, so the iGaming sector must realize that adding DFS games to their list of products will only be beneficial for them in the long run,'' Carlotti concluded.
Online Casino News Courtesy of Infopowa