ShareThe United Kingdom Gambling Commission (UKGC) has revoked Bet-at-Home's operating license. The ban took effect on July 6, 2022, and will last until the gaming authority reviews the operator's activities.
The regulatory body cited social responsibility and anti-money laundering procedures as the basis for suspending the license.
According to the UKGC's allegations, "activities may have been carried out in putative reliance on the license but not in compliance with a provision of the license." The regulatory body will investigate whether or not the operator is purposefully evading compliance in particular areas.
Account-holders with the Germany-based company can access and withdraw funds from them. Customers will be able to reach out to the provider through its website. The commission will keep Bet-at-Home clients updated on the result of the inquiry and any potential ramifications.
After the assessment, Bet-at-Home must comply with any recommendations made by the UK Gambling Commission to renew its license. It is impossible to speculate how long the evaluation will take, although its completion is not likely to occur soon.
Issues in Multiple Markets
Bet-at-Home has come under scrutiny, not just in the United Kingdom. It had planned to establish itself in specific emerging markets throughout Europe, including Switzerland.
Furthermore, the company has ceased operations in the German and Dutch sectors, which have transitioned to a more stern regulated industry. Nonetheless, the Swiss Supreme Court declared that Bet-at-Home could not build a platform in the country.
The United Kingdom Gambling Commission takes the responsibility of its duty exceptionally seriously and ensures that all licensees' systems and processes are up to par.
The regulator ensures all the necessary anti-money laundering measures and that operators meet the essential social responsibility criteria. UKGC additionally hit numerous well-known operators in the UK market with hefty penalties for the same kinds of breaches, and the reasons for these fines are similar.
