The gaming license for Stake, an online sports betting and iGaming company, has been revoked in the U.K.
Great Britain’s Gaming Commission announced on Wednesday that it made the decision following an investigation found the company’s logo was displayed on a social media platform that featured an adult actress outside Nottingham Trent University.
The Gaming Commission gave the site until March 11 to complete its final shutdown, but TGP Europe Limited, which operates Stake through a white-label deal, has already restricted the country’s access.
“When an operator leaves the British gambling market we expect an orderly closure of its website to consumers in Great Britain and this includes providing consumers with clear information on how to obtain their funds,” the Gaming Commission said. “If a customer has questions concerning their account they should contact the operator via its website.”
Everton effects
Complicating the matter, Stake is a sponsor for three English pro soccer teams. That includes Premier League’s Everton, which wears the gaming operator’s name across the front of its shirts.
The commission said those clubs will be informed in writing of the risks of promoting an unlawful gambling site. They’ll be “expected to carry out sufficient due diligence to assure the Commission that consumers cannot transact with the sites from Great Britain by any means,” and the regulators will be independently verifying that those measures are in place.
Clubs that don’t adhere to regulations may be liable for prosecution, and if convicted, the commission says they could face fines, imprisonment or both if they promote an unlicensed gambling company that transacts with consumers.
Everton has had a sponsorship deal with Stake worth more than £10 million per season since 2022.
Other markets
Curaçao-based Stake operates legally in more than 35 nations globally.
The gaming company also operates a social casino, or sweepstakes gaming, that can be accessed in 43 U.S. states.
“Stake has made a strategic decision in mutual agreement with TGP Europe to exit white-label agreements and focus on securing local licenses through our in-house platform and operations, building upon our growth in key regulated markets such as our recent expansions into Italy and Brazil,” a Stake spokesperson told The Athletic.
