BetFair acquires license in Malta
May 16, 2005
Top betting exchange Betfair.com has added some weight to its comments
last week that too large a future tax burden could persuade it to
operate outside the British Isles. The company has just acquired
a license to operate from Malta.
“Malta’s excellent technological infrastructure,
its progressive and responsible gambling legislation and its EU
membership were the three key reasons for us applying for a licence
there,” said Stephen Hill, Betfair’s chief executive.
“We hope to launch an innovative exchange-based product
from Malta in the near future.”
Mario Galea, CEO of the Maltese Gaming Authority, said: “Betfair’s
application for a licence comes just a year after Malta introduced
its new Remote Gaming Regulations. The fact that a tier one operator
has opted to get a Maltese licence goes to show that our regulations
are highly regarded and that Malta is seen by operators as a serious
jurisdiction for remote gaming.”
Betfair now holds licences in the UK, Austria and Malta and is actively
seeking licences in other jurisdictions, including Australia. The
Maltese licence enables Betfair to offer P2P games to its customers.
Until the new UK gambling legislation comes into force, bookmakers
are not permitted to offer P2P games in the UK.
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