BetStars, The Stars Group Sports Betting Brand, Enters Czech MarketPublished November 1, 2017 by Ivan P
The Stars Group has increased its presence in the newly regulated Czech Gambling market by procuring a license for their BetStars sports betting franchise.
BetStars, a sports betting site owned and operated by The Stars Group (formerly Amaya), the company behind the biggest online poker brand PokerStars, has been licensed to join the regulated Czech market. With this, BetStars has become the first sports betting site to legally operate in the country.
The Poker Stars Group Leaving its Mark
The new gambling law in the Czech Republic came into force at the beginning of this year, introducing important changes as to who'd be allowed to offer gambling services to the residents of the country. PokerStars was the first international operator to acquire a proper license from Czech authorities, allowing the company to target country's online poker players.
With BetStars joining the market as well, The Stars Group continues its policy of expansion to other gaming verticals that started soon after Amaya acquired the online poker giant in a record-breaking transaction. The sports betting branch of the business was launched in 2015 and it has been thriving, together with the online casino segment that was added to complement the online poker offering.
New Czech Market not Attractive Enough?
Apart from the Poker Stars group, international operators don't seem particularly interested in the newly regulated Czech gambling market. Some of the big names during the years before the regulation, such as William Hill and partypoker, decided to leave the country with a tentative promise of applying for a proper license at a later date.
To this day, however, this did not happen, as administrative hurdles and high taxation rates seem to be more hassle than these operators are willing to deal with. The 35% tax in place for all licensed gambling operators has been criticized by many as too high and it probably the main reason for the lack of interest.
All of this, however, doesn't seem to bother The Stars Group, as their presence in the country continues to grow stronger. The latest addition of BetStars will further secure their position in the Czech Republic, putting them well ahead of the competition if and when others do decide to join the party.