The Malta Gaming Authority (MGA) has officially revoked the license of Oddsfly, citing persistent breaches of Maltese gaming laws and regulatory standards as the primary reasons for this decisive action.
MGA Criticizes Oddsfly for Regulatory Violations
The decision by the MGA follows a failure on Oddsfly’s part to settle a total of €104,814.52 (approximately $118,000) in annual licensing and compliance fees, which had been overdue since 2018. According to the regulator, the company neglected to pay its license fees for three consecutive years-from 2018 to 2020-accumulating unpaid dues of around €75,000 (roughly $85,000). Additionally, as of August 2018, Oddsfly owed an extra €29,814.52 (about $34,000) in compliance contributions, further highlighting ongoing regulatory neglect.
It is noteworthy that the MGA emphasized unresolved issues from the license suspension in 2018. The license, issued under reference MGA/B2C/260/2014, was formally suspended on August 7, 2018, due to these unresolved compliance concerns.
The MGA’s official statement indicates that its decision was based on multiple critical factors. These include Oddsfly’s failure to meet several regulatory obligations, as well as its inability to make timely payments owed to the Authority. The regulator also highlighted that, at its sole discretion, there was substantial justification to proceed with license suspension, given the company’s ongoing non-compliance.
This move aligns with Malta’s recent shift toward more rigorous enforcement of gambling regulations. In February, the MGA introduced comprehensive reforms for 2025, emphasizing increased cooperation with operators, resource allocation based on risk assessments, and proactive risk management strategies-signaling a tougher stance on regulatory adherence across the industry.
What Are the Next Steps for Oddsfly?
The MGA has issued a clear warning: if Oddsfly does not respond within the designated timeframe or fails to address the outstanding issues in accordance with regulatory requirements, the authority will proceed with the license cancellation and may implement additional enforcement measures deemed necessary.
This notice is issued without prejudice, meaning the MGA reserves the right to pursue further regulatory or legal actions if the company does not comply. Should Oddsfly neglect to resolve the outstanding payments or rectify its compliance failures, the Authority explicitly retains the authority to initiate further proceedings or impose sanctions related to the unpaid amounts.
