Malta is a hotspot for business and relaxation, alike. Its beaches and crystal-clear water call to international tourists and a variety of businesses have set up shop there due to the generous tax structure. Internet gambling and, most recently, cryptocurrency are the hottest industries and now it’s the home of Canada-based Global Daily Fantasy Sports Incorporated (GDFS), a daily fantasy sports (DFS) software supplier.
GDFS has been granted a license for business-to-business controlled skill games from the Malta Gaming Authority (GMA). The Vancouver-based company applied for the license so that it could reach markets that don’t require approval by a specific regulatory body. It now will use the five-year license to roll out its products to operators in those markets.
In a statement, GDFS CEO Darcy Krogh said, “The Malta Gaming Authority always showed a belief in the potential expansion of daily fantasy sports in Europe.” In addition to the Maltese license, the company also has a license issued by the UK’s Gambling Commission.
DFS is proving to be big business. GDFS anticipates gross gaming revenue of around $54.4 billion this year, of which about 50% will come from sports betting. Only looking at the European market, the company expects to pick up a little more than $29 billion and, according to Krogh, the Malta license will help GDFS provide a wider reach and a stronger foundation around the continent.
Krogh went on to say, “The granting of the license confirms that the company made the right choice when choosing Malta as its European base for its client-facing and licensing operations. This license is pivotal for Global Daily Fantasy Sports Incorporated, enabling us to expand our presence into additional markets and launch our dot-com network. It also allows us to offer our product and platform to a wider group of operators.”
According to the GDFS website, the company is a mobile-first, multi-tenanted gateway that allows operators to offer their customers a world class DFS product. It has a partnership with NYX Digital Gaming to distribute its platform and some of its clients include Sisal, MicroGame and Lottomatica.