Betfair.com Wins License in Malta

MALTA As reported by Silicon.com: " Online betting exchange Betfair.com has been awarded a licence to operate out of Malta which will enable it to offer services which UK gambling legislation currently inhibits.

"The company says it will be running 'peer-to-peer games', which UK taxation and related costs currently make cost-prohibitive. Betfair declined to comment further on what this may entail, saying there will likely be a launch later this year of 'an innovative exchange-based product'.

"…Stephen Hill, CEO of Betfair, said: '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.'"