The Malta Gaming Authority (MGA) has officially revoked the operating license of Oddsfly, citing continued financial and regulatory violations as the primary reason for the decision.
MGA Calls Out Oddsfly for Unpaid Fees
The ruling follows years of non-compliance, with Oddsfly failing to pay a total of €104,814.52 (approximately $118,000) in annual licensing and compliance fees, dating back to 2018. Specifically:
- The company neglected to pay license fees for three consecutive years (2018-2020), totaling €75,000 ($85,000).
- Oddsfly also accumulated €29,814.52 ($34,000) in overdue compliance contributions as of August 2018.
These outstanding fees prompted the MGA to suspend Oddsfly’s license on August 7, 2018 under reference MGA/B2C/260/2014—a status that remained unresolved over time.
Regulatory Compliance Failures
In its official statement, the MGA outlined key reasons behind the revocation, including:
- Oddsfly’s failure to fulfill regulatory obligations under Maltese gaming laws.
- Repeated failure to make timely payments owed to the Authority.
- The MGA’s discretionary conclusion that there is sufficient justification for terminating the authorization due to ongoing violations.
Stricter Enforcement of Malta’s Gambling Laws
The decision aligns with the MGA’s broader regulatory tightening in 2025, where the authority introduced enhanced gaming oversight measures. Recent goals include:
- Strengthening collaboration with gaming operators.
- Allocating resources based on new risk assessments.
- Implementing proactive regulatory measures to mitigate compliance issues.
What’s Next for Oddsfly?
The MGA has issued a final notice, warning that if Oddsfly fails to respond or correct its standing, the license revocation will proceed alongside additional enforcement actions.
Furthermore, the regulator retains the right to initiate further legal proceedings, ensuring that all outstanding payments are resolved through appropriate enforcement channels.
