Pragmatic Solutions, a trusted and fast-growing iGaming platform (PAM) for regulated markets, will be exhibiting at one of the biggest and most important events for the global iGaming sector – SIGMA’19 – taking place between the 27th to 29th November in Malta.

Pragmatic Solutions looks forward to showcasing their innovative mobile-focused, API-based iGaming platform that has been specifically designed to eliminate major operator pain points, such as limited UI/UX control, data at risk, or slow delivery. Being already certified across multiple markets and planning to expand to Denmark, Italy and Spain, as well as North America and Africa in the near future, Pragmatic Solutions never fails to demonstrate its scalability, speed, flexibility, and total data security.

At this year’s edition of SIGMA, Pragmatic aims to highlight the platform’s solid position in today’s everchanging gaming environment. Acknowledging the summit’s extensive repertoire, the event provides the ideal setting for operators to get acquainted with the industry’s challenges and opportunities alike. With technology built for the right purpose, right from the start, and a mobile first approach, Pragmatic Solutions will present attendees the platform that manages to meet the latest standards and continuously works on keeping up with the changes that arise within the gaming sector.

Operators interested to explore in-detail the offering of a leading iGaming platform provider, as well as learn more about the latest trends in the industry, can meet the team behind Pragmatic Solutions at stand ST28. The company can be reached to book a meeting in advance at [email protected].

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.

Source

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.