The Gambling Commission (the “Commission”) recently announced that it had suspended PlayerFT Limited’s (“PlayerFT”) operating licence, with immediate effect. PlayerFT is the operator of Fiveyards, an online “transfer market” which allows sports fans to “scout” and “buy” football players.
The suspension follows a licence review of PlayerFT’s activities by the Commission under s116 of the Gambling Act 2005. The licence review found that PlayerFT may be carrying out activities in breach of the conditions of their licence and in a manner which is inconsistent with the licensing objectives. The Commission’s decision to suspend PlayerFT’s licence was as a result of PlayerFT’s failure to integrate with the national multi-operator self-exclusion scheme, GAMSTOP, which is mandatory.
Users of the Fiveyards platform will still be able to withdraw funds and access their accounts during the period of suspension and the Commission has reiterated the importance of PlayerFT keeping its consumers fully informed of any developments which may impact them.
The decision to suspend PlayerFT’s license follows the recent suspensions of Lottery England Limited’s and Nektan (Gibraltar) Limited’s licences and illustrates the need for operators to monitor their policies and procedures to ensure that any activities carried out are compliant with the licence conditions and codes of practice and in line with the Commission’s guidance and the licensing objectives.
Co-Authored by Chloe Day