Stake has announced it will cease all UK-based operations following an investigation into its social media advertising.
The UK Gambling Commission announced today that Stake’s white label site for UK users will no longer be licensed. TGP Europe Limited (TGP) operates the site and made its own statement to say they would shut down the platform.
Stake to Quit the UK
TGP hit the headlines back in 2023 when it was one of several gambling operators penalized by the UKGC for anti-money laundering and social responsibility failures with a £316,250 penalty.
This most recent investigation looked into a social media video shot outside Nottingham Trent University where adult actress Bonnie Blue parked a van outside the campus, promising to “sleep with 180 barely-legal 18-year-olds” with the Stake logo clearly visible on the screen.
Following a meeting with the UKGC, TGP immediately stopped taking new registrations in the UK and will shut down fully by March 11, 2025.
A statement by the UKGC said:
“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.
“If a customer has questions concerning their account, they should contact the operator via its website.”
Stake recently acquired the proper licensing to operate in the Brazilian market and said it would now focus on acquiring all new licenses itself through its in-house setup.
Premier League Club Everton in a Quandary Over Shirt Sponsor Deal with Stake
As a fast-growing gambling outfit, Stake was able to build enough of a budget to sponsor the shirts of English Premier League Club Everton.
This deal has been in place since 2022, but the club has now received a formal warning from the UKGC about promoting unlicensed sites.
Two other clubs received the same warning and will have to prove that illegal sites have effective measures in place to prevent British citizens from gambling with them.
“Clubs will be asked to demonstrate that they have assurance that any steps to geo-block the sites are effective, recognizing that some blocking can be easily bypassed by use of tools such as a Virtual Private Network.”
It’s clear that the UKGC is now focused squarely on removing illegal sites from the UK market, issuing threats of prosecution for those who promote unlicensed sites to the British public.
“The regulator will warn the clubs that their officers could face up to 51 weeks in jail and unlimited fines if they were found guilty of promoting “unlawful gambling websites.”
“It wants an 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.”
