02-11-2007 Malta: 30 months to get paid from failed bookmakers

Earlier last month, a former Playbanks customer, who following my advice contacted the German Embassy in Malta, was told that according to Maltese regulations his payment from the failed bookmaker could not be processed before 30 months.

Later in October, when I met with representatives of the Malta's Lotteries and Gaming Authority in Birmingham, I asked the Director of Legal to receive more information about the 30 months rule, which during the previous talks I had with the LGA was never mentioned.

I was then told the rule the LGA has to adhere to in these cases is the n° 39 (handling of players monies) of the Remote Gaming Regulations 2004: "If no transaction has been recorded on a player’s account for thirty months, the licensee shall remit the balance in that account to the player, or if the player cannot be satisfactorily located, to the Authority. Provided that no claim shall lie against a licensee who has remitted the balance in a player’s account to the Authority."

It appears to me that this rule handles the managing of funds on inactive accounts and it has nothing to do with failed bookmakers.

While I'm waiting for a further clarification, I must add that none of the other players involved in the Playbanks fiasco has ever been informed by the LGA about this rule. Apparently Malta's remote gambling regulations are open to interpretation when necessary to delay payments to owed players.

Pierluigi Buccioli