The UK Gambling Commission has decided to review Bet-at-home’s operations in the United Kingdom due to potential breaches of gambling laws. In the meantime, the company’s license is suspended. The operator is based in Germany, with offices located in Gibraltar and Malta.
Possible 2005 Gambling Act Violations
With the announcement of the review, the Gambling Commission stated that the company may be in violation of the 2005 Gambling Act. It is believed that Bet-at-home is falling short when it comes to social responsibility as well as anti-money laundering regulations. In the suspension decision, both factors were mentioned as key considerations.
The Commission stated that they have made it clear to the operator that during the suspension, they expect Bet-at-home to treat consumers fairly. All members of the site must be informed of any developments that may impact them specifically.
The review may find that the operator is unsuitable to continue offering services based on licensing due to the fact that Bet-at-home has not acted based on the conditions of licensing. The company will not be allowed to take new bets from customers but can allow withdrawals of funds. It will be interesting to see if players cut and run during this time, as the company is under investigation.
The news of the suspension comes as Bet-at-home is focusing on bouncing back financially from the effects of the COVID-19 pandemic. The company saw a sharp decline in revenues during the first quarter of the year at 54%.
Bet-at-home was founded in late 1999 and went online in early 2000. The company has many years of service under its belt and is trying to hold on to its reputation and licensing options throughout Europe. The provider offers casino games, online sports betting, and additional service options. With this recent suspension, it will be another blow to the operator as it tries to gain ground after significant losses.
The suspension in the UK affects the firm’s ability to operate in certain regions. In Germany, the company has been feeling the impact of legislative changes, specifically the Fourth Interstate Gambling Treaty. If the result of the review does not lead to the gaming license of the company being revoked, the losses incurred could be enough to shut down operations.
The review and suspension is the first major action by regulators against an operator since Camelot was fined several millions of euros for errors involving it’s mobile application.