In a significant new development in the world of online sports betting, 888sport has become the latest operator to join the integrity body ESSA.
Now, 888sport has joined the likes of Bet365, bwin, Ladbrokes Coral, Paddy Power Betfair, Unibet and William Hill as part of ESSA.
ESSA’s primary objective is to safeguard the interest of customers across the world from potential fraud via manipulation of sporting events. The integrity body looks after the interests of almost 40 millions punters in the EU alone at the moment.
“888sport is determined to continue to ensure the security of our markets and customer playing experience from the adverse impact of corruption in sport,” 888 sports fraud and risk manager, Ross Harkins, said.
“Joining ESSA is a key part of that approach and to maintaining the high standards of responsible gambling that we are committed to.”
Khalid Ali, secretary general of ESSA, added:
“The operator is a leading player in the industry and I am delighted that it has joined ESSA; it is the perfect start to 2017 and builds upon a very successful 2016 both in terms of membership growth and the association’s ability to protect its regulated members from betting-related fraud.
“888sport will now add its unique customer base and betting market platforms to our global anti-fraud alert and reporting system.”
GVC Holdings and Betfred have now parted ways after nine-year collaboration. The two parties ended their association just a year before the contract was due to expire.
In May 2016, the two companies put pen to paper, which ensured that GVC could offer its online sports platform to Betfred exclusively.
Full migration of Betfred's online business was covered under the agreement, with the GVC platform offering a unified account.
The two firms released a statement this week and informed stakeholders that this decision was arrived at “by mutual consent”.
According to the statement, the deal was “reached amicably, with no penalty clauses triggered by either party”, and that now both brands will be able to execute “greater flexibility to develop their businesses going forward”.
In a major new development in the world of online sports betting, William Hill has exited the Czech Republic after the new a new gambling legislation was introduced in the country.
The new law to regulate gambling in the country had the President Miloš Zeman’s signature after it was approved last summer. This new law, the Gambling Act, will help Czech Republic adhere to the European Union (EU) regulations.
From this year on, gambling operators will be subject to tougher licensing processes, which involve requirements such as having an official seat in an EU or European Economic Area country and holding at least €2 million ($2.1 million) in equity.
That’s not all. Other changes include a new tax rate of 23% on gross gaming revenue for sports betting and lotteries, as well as 35% for RNG casino games, on top of a standard 19% corporate tax rate.
Post the implementation of these new rules, British bookmaker opted to withdraw its services from the country and informed the same to its customers.
The players have been also told by the site to withdraw funds from their accounts.
It now remains to be seen whether other big players follow William Hill out of Czech Republic.
These, however, are testing and interesting times for the gambling operators and enthusiasts in the country.