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SBTech Secures Software Licence in Malta

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SBTech, a world-leading provider of online Sportsbetting solutions, management services and iGaming platforms, has been awarded a full Class 4 Remote Gaming License by the Maltese Gaming Authority.

The Maltese licence adds to SBTech’s ever-increasing portfolio of European permits, as the company continues to expand its operations across the continent and beyond.

SBTech’s expertise in equipping international operators with intelligent, localised sportsbook offerings is based on unrivalled industry knowledge, and is at the core of its exponential growth in recent years.

Richard Carter, CEO of SBTech, explains: “Our ongoing strategy is to increase the number of markets we are licenced to operate in, in order to offer our tailor-made services to the new generation of Sportbetting platforms.  Thanks to the efficiency and professionalism of both the Maltese Gaming Authority and our in-house legal team, I am delighted to confirm that we have fulfilled all the requirements and have secured this much sought-after licence.”

SBTech now aims to cement its position as a market-leading provider of bespoke sportsbooks to operators in regulated markets, using the MGA Remote Gaming Licence as a springboard to even greater success. As well as existing Malta-based clients including ComeOn and NetBet, SBTech expects to be signing additional deals with a range of other Maltese licenced operators in the near future.

Joseph Cuschieri, Executive Chairman of the MGA, comments: “It was our pleasure to work with the SBTech team during the process of granting the company’s Class IV Remote Gaming Licence. We are proud of the fact that our regulatory and technical standards are some of the most demanding in the global gaming industry, and we were satisfied with the company’s diligence and thoroughness in providing us with all the information we required at every stage of the license process”.

About SBTech:
SBTech, 2016 EGR Best In-Play Betting Software award winner, is a leading provider of interactive Sportsbetting solutions and services to traditional and regulated markets. The complete offering includes an innovative, dynamic and customisable suite of turnkey and fully managed solutions, specifically designed for top gaming operators, existing bookmakers and land-based networks.

 

Contact:
info@sbtech.com
www.sbtech.com

gambling games

Betting is to become VAT-free

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New rules will bring gambling in line with lotto and lotteries

 

Gambling on the outcome of an event, including sports, will be exempt from Value Added Tax (VAT) from January, as will the services of bookmakers and betting exchanges.

A notice published in the Government Gazette last week shows that as from January 1, the placing of bets and wagers, including the services of bookmakers, betting exchanges and “equivalent facilities” will be exempt without credit for VAT purposes.

Events on which betting and placing of wagers will be exempt include sporting events, both real life and virtual, competitions, lotteries, performance of an index and a natural phenomenon.

Gambling on the outcome of casino-type tables games, such as blackjack, poker and roulette, and any game of chance where they outcome is determined by a random generator will not be exempt from the tax. Similarly, any gambling with the use of remote gaming equipment will not be exempt.

At present, government lotto and lotteries are exempt from the tax.

The exemption from VAT of gambling is outlined in the Value Added Tax Act, the notice shows and it is also an implementation of a Council of Europe directive on the common system of VAT.

According to this directive, EU States may exempt from VAT “betting, lotteries and other forms of gambling subject to the conditions and limitations laid down by each Member State”.

Questions by this newspaper to the Finance Ministry on how this would work and how much revenue the exemption would cost the country were not answered by the time of writing.

Last year, Malta’s VAT revenue was just over €0.7 billion, which translates to 7.3 per cent of the country’s Gross Domestic Product.

 

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Malta

MGA interested in cryptocurrency projects

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The Malta Gaming Authority (MGA) released a statement in which it asks companies to register their interest in cryptocurrency projects and Distributed Ledger Technology (DLT).

 

The Authority will evaluate all submissions in order to enrich and render a more practical sandbox environment and DLT guiding principles, which it intends publishing during the first quarter of 2018.

The MGA said that it is willing to receive the opinion of companies on those two markets, and that in order to set new regulations, it must ensure that consumers and reputation are protected, as they can’t be related to crime, money laundering or terrorism.

The MGA is currently in the process of establishing the sandboxed (test and learn) live environment for cryptocurrency usage within the remote gaming sector, whilst also drafting guiding principles for the application of DLT and its various adaptations within the industry,” said the statement that was published on the authority’s website.

Cognisant of the fact that a certain degree of expertise lies within the industry, with a number of innovative projects and concepts already available on the market, the Authority is reaching out to interested parties willing to share information regarding their cryptocurrencies and/or DLT projects,” it added.

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casino

SoftSwiss now offering Malta licensed White Label solutions

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SoftSwiss has launched a Malta-licensed white label service having been secured its remote gaming license in the jurisdiction last month. 

 

The software provider has been offering a white label casino service under the aegis of Curacao since 2014 and has seen an increase in the number of projects operating under the white label model this year.

In light of this SoftSwiss  expanded its business to the jurisdiction of Malta. After extensive due diligence checks and a rigorous technical audit of the software, the Malta Gaming Authority issued a Class 1 on 4 gaming license to N1 Interactive Limited, a Malta corporation within SoftSwiss group of companies.

This achievement marks a major milestone for SoftSwiss, with the main goal of providing casino operators powered by the company’s platform with broader access to the European markets under the reputable banner of MGA.

Now that the platform is compliant with Maltese requirements, SoftSwiss will continue to uphold high industry standards and build on the already established quality of services. It is worth noting that besides Malta, the casino platform is also proven to be in full technical compliance with such internally regulated markets as Belgium, Estonia and Romania.

SoftSwiss representatives said they were already preparing for launch several online casinos with unique features under the MGA license. Besides that, in Q1 2018 the company plans to release two new software products to complement its core offering.

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