Fantasy sports platform provider Oulala.com has been handed the first official controlled B2B skill games licence from the Malta Gaming Authority.

The goal – to be regulated separately from other iGaming activities – was set four year ago. In order to operate legally in the UK market, the Malta-based firm had to acquire a remote gambling licence simply because of the lack of proper regulation.

Initially, national regulators in Europe showed little interest in diving into the Daily Fantasy Sports (DFS) world.

‘’The authorities in Malta were the first to foretell the impact of DFS’s potential in Europe, and the MGA was in fact the first regulator to acknowledge our needs,’’ explained Benjamin Carlotti, one of the co-founders and managing director at the company. “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 soonfollow 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.

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’ funds.