The UK Gambling Commission has confirmed that Stake will no longer operate in the country from March 10, 2025, following the results of an investigation.
This decision was made after the UK Gambling Commission investigated and discovered that the Stake logo is present on adult content across social media. As such, Stake will close its UK website, and customers won’t be able to access their accounts after the March closure date.
Stake has advised its existing customer base to log in and withdraw funds from their accounts before March 10, 2025, to avoid losing any of their money. In recent years, the company has entrenched itself firmly into the popular sport of UK football (soccer), serving as the primary sponsor for the Premier League team Everton.
The UK Gambling Commission has confirmed that it will write to Everton to warn about the risks of promoting “unlawful gaming websites” on the shirts and in promotional materials. It expects the club to demonstrate the necessary due diligence to its partners that customers in the region cannot transact with “unlicensed” sites.
Consequently, soccer teams may face prosecution and fines if they are found to be promoting “unlicensed gambling businesses” in the UK. This is the second time that the UK Gambling Commission has enforced action against Stake, with the first time seeing its parent company, TGP Europe, fined the equivalent of $393,977 (or £316,250) in April 2023 for anti-money laundering and social responsibility failings.
Earlier this month, the UK Gambling Commission confirmed that its financial risk feedback pilot will run until April 2025. The first phase of this process has seen over 530,000 assessments completed across roughly 300,000 accounts, with 95% of surveys meeting its success criteria. The results are yet to be determined.
In other news, High Roller partners with Yggdrasil.
Written By
