The UK Gambling Commission (UKGC) revoked Bet-at-Home’s operating license. The ban came into effect on July 6, 2022 and will last until the gaming authority reviews the operator’s activities.
The regulator cited social responsibility and anti-money laundering procedures as the basis for suspending the license.
According to the UKGC’s allegations, “the activities may have been carried out on the putative basis of the license but not in accordance with any provision of the licence”. The regulator will investigate whether the operator willfully fails to comply in particular areas.
Account holders with the Germany-based company can access and withdraw funds from it. Customers will be able to contact the provider through its website. The commission will keep Bet-at-Home customers informed of the outcome of the investigation and any potential ramifications.
After the evaluation, Bet at home must comply with all recommendations made by the UK Gambling Commission to renew their license. It is impossible to predict how long the assessment will take, although it is unlikely to be completed any time soon.
Problems in several markets
Betting at home has come under intense scrutiny, not just in the UK. It had planned to expand into specific emerging markets across Europe, including Switzerland.
Additionally, the company ceased operations in the German and Dutch sectors, which moved to a more strictly regulated industry. Nevertheless, the Swiss Supreme Court has declared that Bet-at-Home cannot build a platform in the country.
The UK Gambling Commission takes the responsibility of its duty very seriously and ensures that all licensees’ systems and processes are up to scratch.
The regulator ensures that all the necessary anti-money laundering measures are taken and that the operators comply with the essential criteria of social responsibility. UKGC has also hit many well-known operators in the UK market with heavy penalties for the same types of infringements, and the reasons for these fines are similar.