Betting Exchange Trade Association rules out Options
Sporting Options Ltd are the first to fall under BETA’s new code of practice
Tuesday 16th November 2004
The Betting Exchange Trade Association (BETA) have revoked the membership of Sporting Options Ltd, a small Sussex-based firm, after they were found to be in “material breach” of the new code of practice for betting exchanges.
The episode is likely to be seized upon by supporters of the proposed online betting regulations within the government’s gambling bill. Sporting Options have since gone into administration, after what was swift action by BETA.
Set up in September to represent gaming institutions, the BETA executive committee ruled that Sporting Options did not meet the requirements essential to “drive best practice”, in light of the current Gambling Bill.
General Secretary of BETA, Andrew Silverman said: BETA is committed to maintaining the highest standards of integrity in the betting industry. That is why we have acted swiftly to revoke the membership of Sporting Options Ltd. There is no room in BETA for companies that fail to meet the standards set in the betting exchange code of practice.”
BETA was established to provide communication between gaming organisations, and works alongside them in discussions with the government and other regulatory bodies. Sporting Options’ membership is ended with immediate effect.
