Malta Grants License To Leading Fantasy Gaming Company
by Jason Gorringe, Lowtax.net, London
02 February, 2017
The Malta Gaming Authority has granted Draftkings, one of the two biggest companies in the fantasy sports industry, a controlled skill games license.
The license allows the Boston-based company to offer its service in Malta and several other European Union states that do not have separate regulations governing daily fantasy sports.
Draftkings allows its users to place bets on fantasy sports-related activities. Money is won or lost depending on the user's ability to predict professional sports results. While the game is considered a game of skill, rather than chance, there is some controversy in the US regarding whether the company's activities constitute gambling.
Last November, the company reached an agreement to merge with FanDuel making it the largest company in the daily fantasy sports industry, with five million users combined. While more than 90 percent of its players are Americans, the company expects international business to represent five percent of its revenues by the end of this year, and 10 percent by the end of 2018.
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