German online bookmaker RaceBets was celebrting this week after being granted a full UK licence.
The horsercaing specialist has operated in the UK since 2012 after it rose to success on the continent.
They will now be hoping to make significant gains in the lucrative British market after the backing from the UK Gambling Commission.
RaceBets Managing Director Patrick Byrne said: ‘We are obviously delighted that we can now operate with a full UK License.
‘The decision vindicates our commitment to British racing and the hard work that has been carried out by the whole team, over the last few years.
‘It is an honour to receive a full UK License and we are fully aware of the responsibilities that come with it, both to the UK Gambling Commission and the British betting public.’
While the company has up until now been legally entitled to offer UK horse racing betting markets to British customers, through the granting of a Combined Continuation Remote Operating License, the awarding of a full UK License is an essential landmark for the business. The full UK License is valid from 10th August 2015.
RaceBets was founded in 2005 and quickly established itself as the largest horse racing bookmaker in Germany.
German Racing became partners in the company, back in 2010. Since then, a significant percentage of RaceBets’ profits have been reinvested into horse racing.
The company has been offering full betting coverage of UK racing, since 2012. RaceBets is now one of the most-recognised brands in the global horse racing betting industry. The company offers betting on races taking place in 40 different countries – that is three times as many as RaceBets’ nearest rival.
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