Playtech and the new UK laws - something weird happening?

[fun4all]

Hi

Got this email today for a couple of my playtech accounts, ones I don't play at anymore tbh. It is weird however - I thought they had to get a UK licence for a months time? They say they are getting a new Antigua licence for UK customers?

Exciting Announcement to UK Players

Dear xxxx

We are pleased to announce the launch of Titanbet.co.uk, a site regulated by the Directorate of Offshore Gaming acting under the Financial Services Regulatory Commission (FSRC) of Antigua. Titanbet.co.uk will be operated by PT Entertainment Services Limited (PTE), which is a subsidiary of Playtech, a publically traded company (PTEC:L) on the London Stock Exchange.

As a resident of the United Kingdom, we will migrate your account(s) on September 8th, 2014 to Titanbet.co.uk and your funds will be matched on the new account so that you can continue to enjoy all the familiar games, features, promotions, and benefits. All open bets and upcoming tournaments to which you have registered will migrate to your new account. In addition, you will also have a single account to use for Bingo, Casino, Games, Live Dealers, Poker, and Sports Betting.

In the event that you do not want to migrate your current xxxx account, we advise that you contact support before the migration date in order to close your account and withdraw your available funds.

Your continued loyalty during the launch of Titanbet.co.uk is most appreciated.

Have a query, concern or just need assistance? Don’t hesitate to contact our experienced and friendly Customer Support team 24 hours a day, 365 days a year.

 

[paul7388]

Hi

Got this email today for a couple of my playtech accounts, ones I don't play at anymore tbh. It is weird however - I thought they had to get a UK licence for a months time? They say they are getting a new Antigua licence for UK customers?

It says they are regulated in Antigua not that they are applying for a new Antigua licence. If they are planning to have accounts migrated to them then I would imagine they have applied for a Uk licence.

 

[fun4all]

It says they are regulated in Antigua not that they are applying for a new Antigua licence. If they are planning to have accounts migrated to them then I would imagine they have applied for a Uk licence.

You would hope they are applying for a UK licence but "Regulated by" is equal to "Licenced by" in online gambling speak.

 

[paul7388]

Take 32red they are licensed in Gibraltar but will also hold a uk licence. The vast majority of casinos in uk are licenced abroad but will still hold a uk licence.

 

[Richas]

It does look odd at first but it sort of depends who you are being migrated from.

Antigua is a white list UK regulator on this transfer date. They can apply for a continuation licence (deadline 16th Sept) that will let them operate in the UK post 1st October whilst their full UK licence is sorted. This transitional licence comes with a hefty application fee up front. This means that smaller Playtech operators may well be opting not to get a UK licence and pay the fee (and later the tax) and so instead consolidate the Playtech players from a number of skins under one banner for the UK licence fee.

Some pulling out of the UK but others taking those players on fr essentially the sae games.

Plenty of room for coc up here but it is vaguely sensible for those not willing to pay for UK regulation to shift their UK players to those that are.

 

[vinylweatherman]

You would hope they are applying for a UK licence but "Regulated by" is equal to "Licenced by" in online gambling speak.

They don't say they are applying for a UK licence, but if they are not, they can only legally operate for a month.

It also says that they are operated by Playtech, the software supplier, through a subsidiary company. This is the first time Playtech have admitted this, but as we all know, Playtech operate numerous of their casinos through another subsidiary based in the Philippines, and they tend to be the worst run of the Playtech stable of casinos.

It seems odd that a casino & sportsbook designed and set up to corral the UK players into a single skin has been licenced offshore, when a UK licence will be required. Also, as a new site, they can't have a "continuation licence", so could be at risk of acting illegally from 1st October if their application isn't decided and licence issued in time.

Transferred UK players should bide their time until enough information comes out as to the legality of this setup.

It's possible that Playtech themselves have applied for an operating licence, and intend running their UK focussed sites from this, even though they are run through an offshore subsidiary.

The site also has no mention of "licenced by", or a clickable link to check out the validity of the licence, which makes it look like an unlicenced casino. There is no mention of the licence the operating company has being a specific "gambling licence", rather it's portrayed as more of a "banking" licence held with the jurisdictions Financial regulator. It would only seem to cover them for having custody of our deposits, rather than regulating the bets we make.