While several operators are complaining that the betting scene in the UK is getting dirty in the wake of stricter regulatory measures imposed by the country’s gambling regulators, for European bookmakers the UK betting market is still inviting – at least to Polish bookmaker, STS Gaming Group.
The bookmaker has become the first Polish company in betting business to get its license approved by the UK Gambling Commission.
Commenting on the license approval, the bookmaker said that European expansion has long been a part of its strategy and that it is because of this strategy the company was also the first polish bookmaker to launch its products outside Poland.
Apart from Poland and now the UK, the betting operator is also offering its services in Germany, Iceland, Luxembourg, Slovenia, Andorra, San Marino, Gibraltar, Slovakia, Malta, and Latvia.
“We are not only the largest Polish bookmaking company but the first domestic company in this industry that operates outside the domestic market,” STS chief executive Mateusz Juroszek said.
“Obtaining a license in the UK is the result of a consistently implemented international expansion strategy. We are always looking at other prospective foreign markets.”
Challenging Times For UK Betting Industry
These are rough days for the UK betting industry. In the midst of numerous regulatory changes and the stricter imposition of rules, it is getting tough even for betting giants like William Hill, GVC and Flutter Entertainment (former Paddy Power Betfair).
The top betting operators in the UK are shutting shops; especially after the UK Gambling commission revised the maximum stake limit on FOBTs earlier in the year.
Last month, William Hill said that its revenues from retail betting shops have plummeted by over one third after it shut about 700 shops and blamed it on the reduced maximum stake limits.
The majority of the betting operators are looking at other regulated markets and the recently regulated and evolving sports betting market in the US. For bookmakers, it is online gambling and overseas markets that have been helping to mitigate losses at home.