In a shocking turn of events, Sorare, the cryptocurrency sponsor of the Premier League, has been accused of operating an unlicensed gambling platform in the UK. The accusations come as a major blow to the popular crypto-based fantasy football game, which has gained a massive following in recent years.
According to a report by Protos, a reputable crypto news outlet, Sorare has allegedly been allowing users to place bets on football matches using its platform without the necessary license from the UK Gambling Commission. This revelation has sparked outrage among fans and industry experts, who fear that the integrity of the game could be compromised.
Sorare, which was founded in 2018, has quickly become one of the leading platforms for football fans to buy, sell, and trade digital collectibles of players using blockchain technology. The company’s partnership with the Premier League has only added to its appeal, with users now able to collect and trade digital cards of their favorite players from the top-flight English football league.
However, the recent accusations of unlicensed gambling have cast a shadow over Sorare’s otherwise successful business model. The UK Gambling Commission has strict regulations in place to protect consumers and ensure fair play, and any company found to be operating without a license could face hefty fines and even criminal charges.
In response to the allegations, Sorare has released a statement denying any wrongdoing and claiming that they are in full compliance with all relevant laws and regulations. The company has vowed to cooperate fully with any investigations and has promised to take all necessary steps to ensure the integrity of its platform.
Despite these assurances, the accusations have raised serious concerns among users and industry observers. Many fear that the credibility of Sorare’s platform could be called into question, potentially leading to a loss of trust and a decline in user engagement.
As the investigation into Sorare’s alleged unlicensed gambling activities continues, football fans and investors alike will be watching closely to see how the situation unfolds. In the meantime, the Premier League and other official partners of Sorare will undoubtedly be monitoring the situation closely, as the outcome could have far-reaching implications for the future of crypto-sponsored sports platforms.