PokerstarsPokerStars, the biggest online poker website in the world has made a number of changes to its global policies after being acquired by Canadian based Amaya Gaming. One of those changes included diversify and increasing the company’s sports betting offering as Amaya Inc leadership believed that the global sports betting market is turning into an extremely lucrative industry and PokerStars needed to use its brand image and leverage its extensive customer base to profit from the industry.

PokerStars recently announced that it had acquired a sports betting license to operate in Ireland and the timing could not have been better as a new English Premier League (EPL) season kicked off on the 8th of August. Football in the United Kingdom is one of the biggest and most popular sports, having a massive following who follow the game and love to bet.

The Malta Gaming Authority (MGA) had earlier issued PokerStars with a poker and casino license that allowed them to operate in Ireland. The new sports betting license now gives PokerStars the permission to launch their sports betting product to the newly regulated Irish market. PokerStars will continue to use its PokerStars 7 client that provides poker and casino games for its sports betting product as well and is expected to offer 18 different sports for Irish sports loves to bet on.

In a statement, Stephen Fisk, the sports betting managing director for PokerStars said

We’re very pleased to receive a license for our sports betting offering on PokerStars in Ireland. Our operation of poker, casino games, and now sports betting shows that players trust us to deliver a variety of games in a fun and exciting way. We look forward to building on this by operating under this new license.

PokerStars had to invest heavily into Ireland to obtain a sports betting license as the recent Gambling (Amendment) Act 2015 passed by the Irish government in March 2015 requires gambling establishments to pay €10,000 every 2 years to renew each license and a 1% tax turnover on most bets. The tax turnover for sports related exchange bets is even higher and is set at 15%.

PokerStars’ sports betting product will cover a number of games including football, tennis, rugby union, volleyball, basketball, ice hockey, boxing, baseball, golf, snooker, Aussie Rules Football and American Football. PokerStars is expected to add horse racing to its product offering in the near future.

Categories: News

Posted on: 4th September 2015 by: Gary Beachley