The final shutdown of Stake.uk.com will take place by March 11, 2025, the UKGC said
The UK Gambling Commission (UKGC) announced that online gaming giant Stake.com will be leaving the UK market. This follows an investigation into a controversial social media ad.
Stake to Exit the UK
Stake.com, which champions crypto and online gambling, was recently investigated by the UKGC over a widely viewed video, which featured the brand’s logo. However, the video, which was distributed on social media platforms, also featured an adult actress outside Nottingham Trent University.
The UKGC further elaborated that TGP Europe Limited, which operates Stake.com as part of a white-label agreement, had previously been subject to enforcement action.
After a recent meeting between TGP and UKGC representatives, the gambling brand agreed to stop accepting new registrations to the Stake.uk.com platform. In addition to that, Stake will remove all redirection links toward the UK-facing platform from its main website in preparation for its eventual exit.
In line with the regular UKGC rules, Stake’s UK site will be expected to conduct an orderly closure. The regulator said that the company must make sure that consumers are informed about the shutdown and informed on how to obtain any funds left in their online gambling accounts.
Consumers were warned that the site would stop being a licensed website in March. The final shutdown of Stake.uk.com will take place by March 11, 2025, the UKGC concluded.
Everton FC Must Make Sure That Stake No Longer Offers Gaming in the UK
In the meantime, the UKGC provided details about Stake’s existing sponsorship agreements in Great Britain. The company currently serves as the front-of-shirt sponsor of the English Premier League soccer club Everton FC.
The UKGC noted that it will be contacting Everton, informing it about the risks associated with the promotion of unlicensed gambling website. The regulator added that it will contact two other soccer clubs that also have deals with unlicensed companies.
The Commission will seek assurance from the clubs that they have carried out due diligence on their white label partners and that consumers in Great Britain cannot transact with the unlicensed sites.
UKGC statement
In addition to that, clubs will be required to show that they have assurance that any steps to geo-block the sites in question are effective. Overall, the UKGC expects clubs to make sure that their unregulated partners’ products are not available to customers in Great Britain by any means.
The regulator emphasized that it will take steps to independently verify whether the required measures are in place. It also warned that club officers may be liable to prosecution and face fines or jail time if they are found guilty of promoting unlicensed gambling companies that can transact with British customers.
UKGC Published Interesting Study Findings
In other news, a recent UKGC report highlighted an interesting finding regarding gambling activities associated with a higher risk of addiction and harm. The latest analysis suggested that betting on non-sports events and betting on races/sports in person, were associated with a PGSI score of 8 or more.
This score is inconsistent with the fact that faster gambling activities are the ones usually associated with high PGSI scores.
