Czech’s local news state that the betting brand BetStars has just recently been put on the list of licensed eGaming service providers, issued and regulated by the Czech Ministry of Finance. This makes the Stars Group brand one of very few that made it on that list after its sister firm got licensed earlier this year as the first international licensed operator in the country.
The Czech State Supervision of Gambling and Lotteries Department is solely responsible for the approval of the license and BetStars is expected to start taking advantage of it in no time at all.
Betstars exists since 2015, when the main, so-called parent firm - The Stars Group from Canada, has launched it as an expansion through other gambling branches. This step has turned the giant to sports betting and away from casino gambling for the time being.
Same rules that PokerStars have to apply for its sister brand. Both of them offer the best fund protection to their players, not just in the Czech Republic, but in all 18 jurisdictions where they have been licensed or approved. The player funds are also under trust agreements and are kept separately from other funds used for operating the betting brand.
The Czech Republic has put their new Gambling Law into work with the start of 2017 and by that has introduced an astounding tax of 35% on all annual income. The news was not accepted well by some big league operators, what made them abandon the Czech market completely and leave some more room for persistent players, such as the Stars Group. Among others, VGC Holdings and William Hill are some of the bigger companies that decided the Czech Republic is not the market for them.
This move has opened the gambling market gates for BetStars and Stars Group to enter, apply for and get the licenses for online gambling and sports betting, both. Now there is nothing that can stand in their way of success and domination of the Czech market.
After PokerStars’ success, surely this is the second best thing that has happened to the company that is shooting for the stars and succeeds each time, it seems.