Betting company Tipster has licence suspended by Malta Gaming Authority

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

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.

Lat month, The German betting regulator, Gemeinsamen Glücksspielbehörde der Länder (GGL) withdraw the company’s sports betting licence with immediate effect, followed by Malta’s own licence suspension – announced in July but effective from 27th June 2023:

“The Authorised Person is thus no longer authorised to carry out any gaming operations, but is required to retain and provide access to all registered players to their player accounts and to refund all funds standing to the credit of players in line with the applicable law.

“This sanction is being imposed upon the Authorised Person in accordance with reg. 9 (1) (f) of the Regulations since the Authorised Person is being wound up. This decision may be subject to an appeal in terms of article 43 of the Gaming Act (Chapter 583 of the Laws of Malta).”