UKGC launches review of FSB licence amid white-label partner concerns
FSB white-label BlackBet.com suspended for regulatory reasons
The UK Gambling Commission has launched a review of FSB’s licence amid concerns about the provider’s white-label partners.
FSB voluntarily suspended its BlackBet white-label on Thursday.
The company declined to comment on the reasons for the suspensions, but a notice on the BlackBet site said it had been frozen for “regulatory reasons”.
Customers are still able to withdraw their funds and the Nigerian version of BlackBet is still live.
The UKGC confirmed Thursday it has launched the review into FSB under section 116 of the Gambling Act.
The new investigation comes just weeks after FSB suspended another white-label, 1xBet, after a Sunday Times investigation linked the brand with illegal streaming, cockfighting betting and a “Pornhub casino”.
The UKGC is also looking into that relationship but said it had no update to give.
The 1xBet UK site appears to have been taken down completely, with the landing page now redirecting to MrXBet.net, which is not listed among UKGC licencees.
FSB responded with the following statement: “The UK Gambling Commission (UKGC) has recently expressed concerns over the levels of due diligence performed on a small number of our white label partners.
“These partners and FSB are now fully cooperating with the UKGC, and we anticipate comprehensive resolution of those concerns in short order.
“This process is isolated to a nominal amount of white label licences only, and no further impact or site-suspension is expected.
“As a trusted and proven supplier, FSB puts probity at the cornerstone of everything we do, operating in regulated jurisdictions as a matter of policy. Furthermore, we take our social and regulatory responsibilities to our customers and the wider public extremely seriously.
“Therefore, we will continue to act in good and transparent faith with the UKGC to protect all customer interests and funds, and honour the settlement of any unsettled bets,” he added.
The controversy comes less than two months after FSB secured a £23m investment from Canadian private equity firm Clairvest.