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Malta Enacts Legislation for Fantasy Sports

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Malta Enacts Legislation for Fantasy Sports Operators

Malta Fantasy Sports License Overview

With the enactment of Legal Notice 31 of 2017, Skill Games Regulations, 2017, fantasy sports operators operating from Malta are required to obtain a skill games licence in order to provide such service.

The licence has a duration of five years and comes in the form of either a licence to engage with end-consumers and offer skill game services in the form of a business-to-customer relationship or a licence for the supply of skill games in a business-to-business capacity.

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Licence holders must be a body corporate established in Malta or in another EU jurisdiction and have a minimum paid-up share capital of at least €40,000.

Operators must abide by an organigram that is dictated by the Malta Gaming Authority (‘the Authority’) and segregate operational and players’ funds.

Operators are also required to make regulatory data accessible to the Authority. As happens with other licence applications, the Authority screens persons behind the proposed operation and undertakes measures to prevent fraud and money-laundering.

The Malta Gaming Authority retains the right to decide whether the applicant has in fact satisfied the criteria for issuing such a licence.

Malta Fantasy Sports License Application Process

The application fee has been set at €2,300, payable upon submission of the application. The annual licence fee, paid annually and in advance is of €8,500. Other fees, including system review and compliance review fees are applicable in line with other licences issues by the Malta Gaming Authority.

Gaming operators will also be subject to reporting and operational requirements, including tax reports and fair and transparent games rules, among others.

Licence holders are required to pay a gaming tax of 5% of real income, which shall be determined as total wagers less total monies paid out to players, up to a maximum of €466,000. The tax has to be paid monthly and by not later than the 20th day of the following month.

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