Elite Competitions, a UK-based online prize draw operator, has appointed Peter Lynas, the former compliance lead at Bet365, as its new head of compliance. Lynas brings nearly five years of experience from Bet365, where he managed the company's GLI-33 certification program. This involved rigorous testing of standards recognized by various US states in the realm of sports betting regulation.
His recent responsibilities at Bet365 included a comprehensive business review and ongoing certification processes—expertise that Elite Competitions plans to leverage in enhancing its compliance operations.
In a statement released on Tuesday, Elite Competitions projected a significant growth of around 60% annually in the next three years, with an expected revenue of £100 million by 2026.
This strategic move underscores the increasing interest in the UK prize draw sector. Recently, the industry established a trade body aimed at overseeing responsible standards and improving player protections within the prize draw market.
An April report by Rokker estimated that the UK’s prize draw market generates approximately £1.3 billion in annual revenue and has around 7.4 million active players. A more recent white paper identified Elite Competitions as a prominent player in this burgeoning sector, which includes a sponsorship agreement with Blackpool FC.
Commenting on his new role, Lynas expressed enthusiasm about joining what he described as an “impressive business” that has grown rapidly. He noted, “I’m excited to become part of a growing team who are leading the way in competitions. My experience at Bet365 has given me real insight into the importance of effective compliance frameworks, customer protection, and operating responsibly within a highly regulated environment.”
Although prize draws currently operate outside the oversight of the Gambling Commission and are not bound by strict regulations, the Department for Digital, Culture, Media and Sport (DCMS) implemented a Voluntary Code in May designed to enhance transparency and consumer protection within the sector.
Lynas’ appointment comes at a time when expectations for tighter regulations on prize draws are gaining traction. Recently, HMRC confirmed that the sector would face a 20% VAT rate and that operators must backdate tax payments to cover previous operational periods.
By hiring such a senior compliance professional, Elite Competitions signals its dedication to conforming to evolving industry standards as it expands its operations. Alex Beckett, CEO of Elite Competitions, emphasized the importance of trust and transparency, stating, “Strengthening our compliance function is a key priority as we continue to scale. Peter’s experience as compliance lead at Bet365 will be a significant asset to the business, aiding us in refining our processes.”
Additionally, German lottery brokerage Zeal, which recently acquired the UK prize draw operator SevenCanyon, has informed analysts of its expectation for increased regulations in the UK sector. CEO Dr. Stefan Tweraser acknowledged that more regulation would be advantageous due to the company’s existing heavily regulated framework.
