Tipster Banned from Germany's Sports Betting Market
LISTEN TO THIS ARTICLE:German regulator Gemeinsamen Glücksspielbehörde der Länder (GGL) has announced the immediate withdrawal of Tipster Ltd's sports betting license.
Although the regulator did not state the specific reasons for revoking the operator's license, it disclosed that Tipster no longer meets the requirements of its multi-state license.
The GGL emphasized that the decision to ban Tipster was motivated by the need to ensure player protection. It added that the sports betting business could no longer assure the necessary level of player safety.
Following the announcement, the country subsequently removed Tipster GMBH from its white list of approved gambling operators.
The development comes after the appointment of lawyer Dr. Jörg Gollnick as the provisional insolvency administrator for Tipster, which is part of the insolvency proceedings against the company.
We take consistent action against license holders if they violate elementary rules of the State Treaty on Gaming.
Troubles and Ongoing Restructuring
Tipster GMBH has been operating in the German sports betting market since 2010. Its flagship brand Tipster.de was initially licensed by the Regional Council of Darmstadt. In July 2021, the brand transferred its license to operate under GlüNeuRStv and was one of the first operators that joined Germany's Fourth Interstate Gambling regime.
Tipster GMBH's travails in the region began when a pan-European investigation was launched into the business on suspicion of "large-scale money laundering and tax evasion". The group management had also filed for immediate bankruptcy.
This was followed by a raid of the offices of Tipster GMBH by the Rhine-Westphalia police force and federal anti-corruption units in April, in which six people were arrested.
Earlier this month, Cologne law firm Heidland Werres Diederichs (HWD), which was placed in charge of Tipster GMBH's insolvency proceedings in May, announced that the business is to be restructured and sold.
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