Compliance Updates
Stakers Exits UK Market
Online betting and casino brand Stakers has surrendered its UK gambling licence and has ceased all operations, following the dismissal of its appeal against its licence suspension.
First-Tier Tribunal Judge Aleksander issued a written decision dismissing Stakers’ appeal against the suspension of its licence.
The firm’s initial application to appeal had been refused by the Tribunal, and so by the time of the hearing its remote casino operations in the UK had been “effectively extinguished”.
Stakers’ licence was initially suspended by the UK Gambling Commission (UKGC) in March 2020 due to a “number of compliance issues,” under sections 116 and 118 of the 2005 Gambling Act.
The UKGC subsequently informed Stakers that it should advise players not to place any bets through the website, and should also support customers in withdrawing funds in their accounts.
Throughout the appeal process, a “significant number of regulatory issues and alleged compliance failings” were addressed, whilst Stakers questioned whether the Gambling Act permitted the UKGC to compel operators to participate in compliance assessments via Skype.
The judge concluded that he considered assessments conducted over Skype to be lawful for production of documents and records, but also found that UK gambling legislation does not require operators to display live operational environments to the UKGC via the platform, and firms are also not required to provide test accounts.
Additionally, although evidence of compliance failings could be a criminal offence under the Act, the Judge ruled that Commission officers were not required to caution individuals under the Police and Criminal Evidence Act prior to recorded compliance assessments undertaken via Skype.
Richard Williams, the solicitor from Joelson law firm who represented Stakers, noted that a total of 12 months had passed since the company’s licence was initially revoked, including the six months between the final hearing and the Tribunal’s decision – which damaged Stakers’ chances of maintaining its operations.
He remarked: “Operators whose licence has been suspended, even where they do not agree with the Commission about alleged regulatory failings, will understand that appealing a suspension to the First-tier Tribunal may not be a viable option if they want to keep their business open.”
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Compliance Updates
Cyprus Betting Authority Deploys 150 Secret Agents to Conduct Raids on Betting Agencies
The Cyprus NBA is significantly ramping up its regulatory oversight for 2026. Raids on betting agencies are being carried out by “undercover” agents as part of stepped-up checks by the NBA to ensure compliance with the law.
The NBA has procured inspection services from the private sector, deploying 150 undercover agents who pose as customers and enter betting premises unannounced.
While on site, the agents monitor staff conduct, check whether illegal bets are being placed and verify that minors are not present.
Alongside these surprise visits, NBA officers also carry out on-site inspections and monitor betting websites used by hundreds of players, while inspections are also conducted to identify potential money-laundering activity.
The issues related to the violations of rules were raised during a meeting of the House Finance Committee, where an NBA representative said the Authority imposed fines totalling €46,000 last year.
Of that amount, €26,000 related to breaches linked to the lack of required licences, with the remainder stemming from the presence of minors on premises and other violations of the legislation.
At the same time, data submitted to parliament showed that bets worth €1.3 billion were placed last year, with players receiving €1.17bn in winnings.
Against that backdrop, and following an increase in the betting tax, state revenue from betting rose to €6 million, up from €3.2m a year earlier.
During the discussion, it was also noted that a draft bill has been pending at the Ministry of Finance for around a year.
The bill provides for new products and services, as well as enhanced safeguards for responsible gaming and the protection of minors.
A representative of the ministry clarified that there are no plans to introduce online casino games.
Expected revenue from betting activity is projected at €71.85m this year, an increase of 28.03 per cent, or €15.73m, compared with 2025.
Revenue is forecast to rise further to €75.27m in 2027 and €78.59m in 2028.
Breaking down the figures, betting tax is expected to generate €53m, licence fees €8.2m and betting activity contributions €10m.
Class A and Class B licence holders pay tax at a rate of 10 per cent on net betting earnings, with Class A covering land-based betting and Class B online betting.
In addition, €32m relates to betting tax on Opap’s Cyprus’ gross profits under the new contract, while licences for Class A and B operators, authorised representatives and premises are expected to bring in €2.8m.
A further €5m concerns Opap’s Cyprus’ licence fee and €0.4m its supervision contribution, also under the revised agreement.
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Attorney General Andrea Joy Campbell
AG Campbell Secures Court Order That Will Block Kalshi from Offering Unlawful Sports Wagers in Massachusetts
Massachusetts Attorney General Andrea Joy Campbell released the following statement after securing a preliminary injunction in her lawsuit against KalshiEX LLC (Kalshi), a self-described online “prediction market”. The court’s order will allow a preliminary injunction to take effect, prohibiting Kalshi from accepting online sports wagers and related events contracts from Massachusetts customers until the company follows the state laws that govern sports gaming, including licensure by the Massachusetts Gaming Commission (MGC). The order also denied Kalshi’s motion to dismiss the AGO’s lawsuit filed against them in September 2025.
“The Court has made clear that any company that wants to be in the sports gaming business in Massachusetts must play by our rules – no exceptions. Today’s victory marks a major step toward fortifying Massachusetts’ gambling laws and mitigating the significant public health consequences that come with unregulated gambling, “ said AG Campbell.
In September, AG Campbell filed a lawsuit against Kalshi, alleging that the company uses an online “exchange” to offer sports wagering under the guise of “event contracts,” which allow bettors to place wagers connected to sports, such as the likelihood of a certain team winning a game or a certain player scoring a particular number of points. Kalshi’s platform offers “event contracts” on sporting events, including moneyline contracts, point spread contracts, and over-under contracts. These “event contracts” closely resemble sports wagers offered by licensed operators. The platform actively promotes its sports wagering offerings on television, social media, and online. Kalshi has neither applied for nor received a Massachusetts sports wagering license from the MGC, as required by law.
This matter is representative of AG Campbell’s ongoing efforts to combat the public health harms associated with sports betting and gambling, especially among young people. In June 2025, AG Campbell issued cease-and-desist letters to two online gaming operators for offering online gambling and betting products without obtaining a license. In March of 2024, AG Campbell announced the formation of the Youth Sports Betting Safety Coalition, a private-public partnership to raise awareness about the laws and risks surrounding youth online sports gambling.
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