Bet365 makes Bulgarian play with licence submission

Bet365 has submitted an application for a Bulgarian operating licence to the local regulator as it looks to re-enter the newly re-regulated market, eGaming Review has learned.

If approved, bet365 would become the biggest licensed sportsbook operator in the country and see the company’s domains removed from Bulgaria’s State Commission on Gambling’s blacklist.

Bet365 would also become the sixth egaming licence holder in the ring-fenced Bulgarian market, joining most notable incumbents Betfair and PokerStars who both gained permits earlier this year following changes to the country’s tax requirements.

On 1 January 2014, Bulgaria moved from a tax regime based on a 15% levy on stakes to a more attractive 20% rate applied to gross gaming revenues.

The move was aimed at generating extra tax revenues and stimulating a market which contained just one licensed operator, Malta-based Eurofootball, but a blacklist containing more than 150 domains.

The register of banned sites currently includes those operated by the likes of Ladbrokes, Sportingbet and Unibet while domains owned by William Hill were removed from the list last November.

Bet365 was unavailable for comment at time of publication.