Fast week for Sky Bet with withdrawals and EFL announcement

Fast week for Sky Bet with withdrawals and EFL announcement

Friday, November 17, 2017 Posted by Michael Lawson
The betting giants announced their innovative Fast Withdrawals initiative

It’s been a week of big announcements for Sky Bet, as it rolled out its Fast Withdrawal initiative and publicised its new five-year sponsorship deal with the English Football League (EFL).

Fast Withdrawals is an innovative scheme exclusively for customers of both Sky Bet and Barclays Bank, where their betting earnings will be paid out immediately, rather than the customary few days.

Meanwhile, the bumper EFL sponsorship deal, announced earlier today, will run right through to the 2023/24 season.

Richard Flint, CEO of Sky Betting & Gaming said: "We're delighted to sign this new deal with the EFL and believe the additional focus we and the League are both placing on responsible gambling will show that well run betting operators can play an active part in raising awareness of problem gambling.

"By using our sponsorship and marketing capabilities to highlight how customers can gamble safely we hope to ensure that nothing gets in the way of people's enjoyment of sport, definitely not betting."

GambleAware Chief Executive Marc Etches was less enthusiastic about the new deal, saying: “We are concerned about the effect further exposure to gambling will have on the younger generation. Today’s news confirms that gambling advertising in sport has now reached a tipping point, and we run the serious risk of normalising an adult activity for young people.

“We welcome the commitment to do more to promote safer gambling, because we all have a responsibility to help protect those at risk of developing a gambling problem. However, the messaging needs to be much more explicit about the risk involved than what the gambling industry currently proposes.”

Totally Gaming says: A massive week for Sky Bet, no two ways about it. First, the announcement of a pioneering scheme that offers immediate online payouts to customers with Barclaycards - an industry first - while also disclosing details of a massive EFL sponsorship deal. At a time when betting firms sponsoring football teams is a hot topic, the latter announcement unsurprisingly sparked some controversy, but the lucrative five-year deal ought to largely soften that blow.

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