Best Last Chance? Bet-at-home's Compliance Issues Culminate in the UK With SuspensionPublished July 13, 2022
Coming under compliance in the UK may be Bet-at-home's last chance of proving itself.
Bet-at-home is under fire in the UK after another suspension.
The operator's UK licence has been suspended pending a review of business operations by the British Gambling Commission, as of last July 7th.
The suspension comes on the heels of Bet-at-home's suspension earlier in the week of its sole marketing vehicle in the UK market: the GB Affiliate program.
Bet-at-home head of marketing Alessandro Manzella insists Bet-at-home is not leaving the UK market, and refused to comment further after announcing the suspension.
Grounds for Review
The BGC announced the suspension and subsequent investigation because “activities may have been carried out contrary to the Gambling Act 2005.”
Activities contrary to the Gambling Act of 2005 governing UL licenses would represent violations of Bet-at-home's licence agreement which the Commission deemed potentially unsuitable to carry on its licensed activities.
The violations being investigated by the BGC include suspected social responsibility and anti-money laundering failings, which run afoul of section 116 of the Act. These potential violations are suspendable pending further review under section 118(2) of the Act.
The Commission statement rather ominously indicated how Bet-at-home practices will continue to be reviewed:
“We have made it clear to the operator that during the course of the suspension, we expect it to focus on treating consumers fairly and keeping them fully informed of any developments which impact them.”
While Bet-at-home's gaming activities are suspended, the organisation's practices will be scrutinized by allowing consumers to access their accounts and withdrawing funds.
Websites bet-at-home.com; bet-at-home.co.uk, and uk.bet-at-home.com all will be subject to the suspension as holdings of Bet-at-home.com Internet Limited.
The suspensions follow more related business failings, including revenue drops north of 50% in Q1 2022 after experiencing regulatory issues in other key markets Germany, Austria, and the Netherlands.
Bet-at-home is trending in the wrong direction right now, and some internal processes and practices must be addressed. A possible house cleaning may be in order as well for the iGaming company which may not be able to absorb another blow to its brand reputation.
Since the UK remains the largest market regulatory standard for all jurisdictions, the chance to return to compliance within the UK licensing guideline might be bet-at-home's last chance for survival. The specific violations and how they are addressed can provide a model for other operators in and out of the UK to remain compliant.