Betting company Tipster has B2B, B2C licences cancelled by the Malta Gaming Authority

Sports betting company Tipster has had its Malta Gaming Authority B2B and B2C licences cancelled, as the company is winding down operations.

In July, the MGA had announced it was suspending the firm’s operating licences, and has now opted for full cancellation.

In a statement issued on 5th September, the regulator remarked that: “since the Authorised Person is being wound up… the Authority, in its sole discretion, has determined that the cancellation of the authorisations is the most appropriate measure.

“Pursuant to the foregoing decision, the Authorised Person is hereby being directed to:

1. Duly notify the players, if any, of the cancellation of the authorisation;
2. Settle all outstanding fees that are due to the Authority immediately; and
3. Remove, with immediate effect, any reference to the Authority and the authorisations in accordance with article 51 of the Gaming Act (Chapter 583 of the Laws of Malta) (the ‘Act’).”

In April 2023, Tipster.de made German headlines after its Cologne offices were raided by a reported +1,000 officers on the grounds of illegal gambling, “large scale” money laundering and tax evasion.

Tipster Group, the operating company behind the sportsbook brand tipster.de, had filed a court application to launch the insolvency proceedings.

The District Court of Cologne upheld the request, and assigned, Cologne law firm Heidland Werres Diederichs (HWD) to oversee its insolvency proceedings.

In June 2023, The German betting regulator, Gemeinsamen Glücksspielbehörde der Länder (GGL) withdrew the company’s sports betting licence with immediate effect.