Bet365 Justifies its igaming Business in China
According to Bet365 the company, they were not running unlawfully in the country despite the accusations that were made earlier by an anonymous short seller, which is known as the Spotlight Research.
Bet365 offered an announcement to iGaming Business, and they claimed that the allegations that were presented were incorrect, deceptive, and self-centered. The firm further said that it does not own any branch in China, and therefore, it is not operating against any laws of the country that deal with gambling.
The allegation that was issued stated that Bet365 runs a website that supports gambling among the Chinese people. It also claimed that this operation could be perceived as illegal since it can be used in avoiding the Chinese capital controls. The report stated that the company generates a significant portion of its income from China where the law prohibits online gambling. Neteller and Skrill are payment processing brands, and they are run by the Paysafe, and according to the informer, Bet365 is the company’s largest anonymous client.
The enterprise is registered to operate by various licensing bodies across different jurisdictions, and it has always followed all the relevant laws.
Bet365 believes that there are no rules that have been set to ban the provision of distant gambling solution to China by companies that are based outside the country's borders. The firm does not have any employees, properties or amenities in China. It does not involve any intermediaries and representatives to serve any role in the country.
Bet365 and the law of China
Bet365 and it attorneys believe that the Chinese law does not affect the operations of companies that offer remote gambling services in the country as long as they do not set their offices in China’s territory.
The company said that the analysis that was provided by the Spotlight Research on the related laws, and its reports on the unlawfulness of providing remote gambling services in China are selfish, false, and imprecise. Paysafe also disagreed with the allegations that it was being involved in illegal activities.
The company announced that the information that was offered in the Spotlight Research’s report is incorrect and been released in the past. The Paysafe group has an excellent record of honestly disclosing information to the public, issuing two bronchi in 2015, and being thoroughly examined in the UKLA listing as one of its actions to facilitate its mission of joining the Main Market of the London Stock Exchange.