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BetVictor

From Wikipedia, the free encyclopedia

BetVictor
Company typePrivate
IndustryGambling
Founded1946
FounderWilliam Chandler
Headquarters
Gibraltar
Key people
Andreas Meinrad (CEO), Victor Chandler (Former Chairman)
ProductsSports betting, online casino
Websitewww.betvictor.com

BetVictor, founded in 1946, is an online gambling company based in Gibraltar, owned by British businessman and racehorse owner Michael Tabor. It provides services such as sports betting and online casinos.

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Transcription

History

The company was founded by William Chandler, the proprietor of Walthamstow Stadium, a greyhound racing track located in the London Borough of Waltham Forest in East London in 1931.[1] Victor Sr. and Jack took over the bookmaking business following William Chandler's passing in 1946. Victor Sr. died unexpectedly in 1974, and his son Victor Jr., who was then employed in the hospitality industry in Spain, assumed control of the business.

In 1998, the headquarters relocated to Gibraltar to avoid the UK’s gambling taxes.[2] Some have suggested [by whom?] that the relocation of BetVictor’s headquarters was a factor in the decision to abolish the gambling tax in Gordon Brown's 2001 budget.[3]

The company underwent a rebranding in 2004, changing its name to "VC Bet," but eventually reverted to "Victor Chandler" in late 2008.[4] In 2012, to ensure consistency and recognition across international markets, the company underwent another rebranding and adopted the name "BetVictor".[5] In May 2014, Michael Tabor, a businessman and major shareholder of Victor Chandler International, assumed control of the company.[6]

In September 2021, BetVictor disclosed its collaboration with Quantum Metric, aimed at advancing and enhancing consumer-centric products.[7]

BetVictor business-to-business

In 2020, German newspaper BILD confirmed that it had started a cooperation with BetVictor to launch BildBet.[8] Later in 2020, BetVictor made an agreement with Parimatch to be their white label provider in the UK.[9] On September 9, 2021, BetVictor announced a partnership with Global Media & Entertainment to relaunch HeartBingo, their UK gaming brand.[10] In August 2022, BetVictor partnered with talkSPORT to launch a new UK sports betting brand, talkSPORT BET.[11]

Regulatory actions

In February 2022 BetVictor faced a £2 million (€2.4/$2.7 million) regulatory action after the UK Gambling Commission investigation revealed fairness, social responsibility, and anti-money laundering failures.[12] The operator will pay the money as part of a settlement with the commission, and the settlement money will go to the National Strategy to Reduce Gambling Harms.[13]

In 2023, the UK Advertising Standards Authority investigated a BetVictor Facebook ad featuring images of FC Barcelona players Jordi Alba and Sergio Busquets. They ruled that the advert had breached the code of practice as it was likely to have a strong appeal to under-18s.[14]

References

  1. ^ Genders, Roy (1990). NGRC book of Greyhound Racing. Pelham Books Ltd. ISBN 0-7207-1804-X.
  2. ^ "Betting on Gibraltar". BBC News. 14 May 1999. Retrieved 27 May 2010.
  3. ^ "UK could become internet gambling leader". Pinsent Masons. Out-Law News. 14 March 2001. Retrieved 4 April 2023.
  4. ^ "VC Bet reverts back to Victor Chandler". Archived from the original on 6 January 2009. Retrieved 22 January 2009.
  5. ^ BetVictor. "Victor Chandler to Rebrand as BetVictor in the UK". www.prnewswire.com (Press release). Retrieved 4 July 2022.
  6. ^ "Michael Tabor takes over BetVictor from Chandler | Horse Racing News | Racing Post". 23 May 2014. Archived from the original on 23 May 2014.
  7. ^ "BetVictor Partners with Quantum Metric for the next step towards player-centricity". Cision PR Newswire. 15 September 2021. Retrieved 28 March 2022.
  8. ^ "BetVictor and BILD form german power couple with launch of BILDBet". 1 January 2020. Wednesday, 1 January 2020
  9. ^ "BetVictor Take Parimatch Under Their Wing For UK Launch". 1 August 2020. Saturday, 1 August 2020
  10. ^ "BetVictor Announces Partnership with Heart Bingo". 9 September 2021. Wednesday, 9 September 2021
  11. ^ "BetVictor Group Announces Brand Partnership with talkSPORT". 11 August 2022. Thursday, 11 August 2022
  12. ^ "Online gambling business faces £2m regulatory action - Gambling Commission". 24 February 2022. Retrieved 24 February 2022.
  13. ^ Barber, Bill (24 February 2022). "BetVictor to pay £2m after Gambling Commission investigation into rule breaches". Racing Post. Retrieved 4 April 2023.
  14. ^ Clarke, Josie (18 April 2023). "BetVictor ad banned for featuring footballers popular with under-18s". The Independent. Retrieved 26 April 2023.
This page was last edited on 27 March 2024, at 06:37
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