New operators enter crowded British online betting market
Two more operators have gained Gambling Commission licences.
UK.- The British online gambling market is big but also highly competitive with tight regulations and the presence of 175 online operators, including giants with lots of firepower like Evoke, Flutter, Entain and Bet365. The competition has claimed several heads in recent years, with MansionBet wrapping up in 2023 and Rhino Bet departing last month, but two newcomers think they can stand out with a focus on horse racing betting.
Two new operators are making debuts on the market with licences from the Gambling Commission: AK Bets and BetZone.
The latter, using a platform from Metric Gaming, will focus mainly on horse racing betting with an in-house racing product. It’s hoping that this product will be unique enough to resonate with the market at a difficult time amid concerns about downturn in betting revenue in the horseracing sector.
As for AK Bets, Anthony Kaminskas, founder of the Dublin-based operator, said the plan is to go live under its own licence next month. The brand has already built up visibility through on-course offerings, including an on-track stand at Cheltenham. It will also be at Royal Ascot.
Kaminskas has invested over €460,000 into the brand to snap up the best racecourse pitches available. Online, it offers bets on football, tennis, golf, snooker, darts and rugby and plans to expand to cover other sports. In an interview with Business Sport, Kaminskas said the company aims to use a human touch to compete with the British gambling giants.
He said: “We’ll never be absolutely huge. We’re not going to have bells and whistles, and we’re not going to have all the toys of a Paddy Power or the market reach of a Paddy Power or a Bet365. But I think we can add so much value in being more human when taking bets off individuals.”
Meanwhile, Edinburgh-based Incentive Games has picked up a Gambling Commission licence to launch its real-money games for British igaming operators. CCO Ahmed Baker described the UK as a “critical market” and a pivotal milestone in its growth strategy. Incentive recently sealed a deal with bet365 to provide the co-published predictor game, the bet365 Bracket Challenge, targeting American audiences during NCAA Men’s College Basketball Tournament
British gambling reforms
British gambling regulations continue to undergo reforms following the 2023 gambling white paper. In the latest changes, the Gambling Commission has announced new rules for gambling incentives and promotions.
From December 19, licensed gambling operators will no longer be allowed to offer bonuses or other incentives that require customers to combine different types of gambling products. For example, promotions that require a customer to place both a sports bet and play a slot game to qualify for a bonus will be prohibited.
There will also be a cap on bonus requirements. This will limit online bonus wagering requirements to 10 times the bonus amount. For example, a £10 bonus offer cannot require a customer to place more than £100 in bets before any winnings can be withdrawn.
The Gambling Commission said the aim was to end excessive or misleading conditions that force players to gamble more than planned.
