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Oulala Becomes First Licensed B2B Fantasy Sports Provider

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Daily fantasy sports (DFS) platform provider became first licensed B2B Fantasy Sports provider after the brand has been handed the first official controlled B2B skill games licence from the Malta Gaming Authority (MGA).

Oulala, the B2B-focused company, has successfully achieved its goal which was set four years ago: it wanted to be regulated separately from other iGaming activities. To operate legally in the UK market, the Malta-based company had to get a remote gambling licence due to the lack of proper regulation.

National regulators in Europe showed little interest in entering the Daily Fantasy Sports (DFS) world at the beginning.

Benjamin Carlotti, one of the co-founders and Managing Director at the company which offers an award-winning fantasy football platform for API integration together with a complete turnkey solution noted that the authorities in Malta were the first to foretell the impact of DFS on the market.

Benjamin Carlotti:

”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. 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 MGA spent more than two years working on a new licence category for ”controlled skill games,” which specifically regulates DFS and defines it as a game of skill, i.e. not gambling.

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MGA’s Executive Chairman, Joseph Cuschieri:

”The Malta Gaming Authority is pleased to be issuing a B2B licence for fantasy sports to OulalaGames Ltd under the new skill games regulations. 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.”

A newly awarded controlled skill game licence can be used for either B2C and/or B2B purposes, and it is valid for five years. The licence is subject to a number of requirements, including segregation of operational and players’ funds.

Carlotti believes that exciting time is ahead for Oulala and the DFS sector in general as some sports betting companies have already expanded their online offering with a range of fantasy sports games or they have plans to do so. What is more, many others are keeping a close eye on the fantasy sports scene.

Benjamin Carlotti:

”the millennial generation is expecting social skill games, so the iGaming sector must realise that adding DFS games to their list of products will only be beneficial for them in the long run.”
Oulala Becomes First Licensed B2B Fantasy Sports Provider was last modified: March 7th, 2017 by CasinoNews.Today
Source: Oulala