RaceBets backing a winner in Germany

RaceBets backing a winner in Germany

Wednesday, September 23, 2015 Totally Gaming
Patrick Byrne is keen to work closely with German regulators

RaceBets managing director Patrick Byrne has given his support to German attempts to combat illegal gambling after the operator became the first company to secure an online horse betting licence in the country.

Byrne told TotallyGaming.com that his company has established good relations with the German regulators during a process in which it became the first firm to reach full compliance with regulations introduced in 2012.

However, he also said that he wants restrictions placed by the authorities to be kept to “an acceptable level”.

“Our main hope is for continuous cooperation with the authorities,” Byrne said. “This will ensure that we comply with the strict regulations in Germany - especially in terms of player protection - while keeping any restrictions to an acceptable level.

“The primary aim of the gaming legislation, in Germany, is to channel betting to authorised operators and to combat illegal betting.”

The online licence was awarded by the Darmstadt Regional Council (Regierungspräsidium Darmstadt), the national body with responsibility for assessing and certifying operators, and comes weeks after RaceBets was awarded a general horse race betting licence.

Malta-licensed RaceBets was awarded one of the 20 German sports betting licences that were issued in September 2014. However, due to legal disputes with failed sports licence bidders, the issuance of these licences has been delayed.

While RaceBets has now completed its licence application, Byrne said that there is still much work to be done to keep the authorities satisfied.

“The focus for the next 12 months is implementation, observation and evaluation of a number of new processes​ regarding player identification and protection," Byrne said. “There will be an ongoing exchange with the authorities, in order that we can react to any problems that might arise with the implementation of new rules.

“In gaining the licence, we had to hand in a number of concepts and policies – such as regarding data security, player protection, KYC and anti-money laundering.

“A number of discussions were held with the supervisory authorities on these and other topics as well. It is now up to us to implement a number of new processes, over the coming weeks, in order to comply with the licence regulations.”

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