Ripples from accusations aimed at Paysafe by short seller trigger a response from one of the largest firms in the online gambling industry
Accusations of supporting illegal online gambling conduct aimed at Paysafe earlier this week by alleged Paysafe short-seller, Spotlight Research, have triggered a defensive response from one of the largest operators in the international online gambling industry, Bet365.
Part of the Spotlight allegations against Paysafe, an online payments group offering well known online payment vehicles like Neteller and Skrill, involved Bet365 and the Chinese market, and Bet 365 has responded by claiming it has no physical presence in China and is not breaking Chinese laws.
Describing the Spotlight claims as "self-serving, misleading and inaccurate", Bet 365 explained that as a company it takes its legal and regulatory obligations very seriously; is licensed by appropriate regulatory authorities across a range of jurisdictions; and is compliant with all relevant legislation.
"There is no legislation which expressly prohibits the supply of remote gambling services into China by operators who are based outside China," the Bet365 statement observed. "Bet365 has no people, assets or infrastructure in China and does not engage any agents, aggregators or intermediaries, for any purpose, in China.
"In the view of Bet365, and its lawyers, Chinese law does not extend to the provision of services into China by gambling operators and service providers who themselves have no nexus with the territory.
"Accordingly, Bet365 considers Spotlight Research's analysis of the relevant legislation and statements surrounding the alleged illegality of the provision of remote gambling services into China remotely to be self-serving, misleading and inaccurate."
Online Casino News Courtesy of Infopowa