Not Guilty Plea
Fantasy football operator Sorare has pleaded not guilty to three counts of offering unlicensed gambling in the UK.
The company’s solicitors entered the plea in a plea hearing in Birmingham Magistrates Court on Friday, October 4th.
Long Investigation
The United Kingdom Gambling Commission (UKGC) brought charges against Sorare at the end of September in an extremely rare instance of the regulatory body exercising its prosecutorial powers.
This is only the second time the UKGC has used these powers, having previously used them against a greyhound trainer in 2015. The body has been studying the activities of Sorare for the last three years.
According to British laws, all fantasy sports sites that are being played for real money are required to hold a UKGC license, which Sorare does not. The multibillion-dollar company’s platform allows players to purchase NFTs of players, while then also allowing users to build teams that compete against one another in a fantasy football format.
At the end of the season, the winning players will receive prizes, including cash rewards, autographed shirts and memorabilia, and match tickets.
Misunderstood Business Model
Sorare has entered a not-guilty plea to these charges, arguing that the UKGC does not understand the company’s business model. The company has argued that the regulator has wrongly determined that gambling laws apply to them.
Sorare has become one of the biggest fantasy sports companies in the world in recent years. Major names like Lionel Messi, Rio Ferdinand and Gerard Pique have all been involved with the company in one capacity or another, and it is estimated that it has around 3 million users worldwide.
Following the not-guilty plea, District Judge David Murray announced that the trial would take place on June 16th next year, with a pre-trial date set for March 10th.
