Elite Competitions, a UK-based online prize draw operator, has appointed Peter Lynas as its new head of compliance. Lynas joins from Bet365, where he served as the compliance team lead for nearly five years. During his tenure there, he managed the company's GLI-33 certification program, which involves rigorous testing standards widely recognized by U.S. states for sports betting regulation.
His expertise in overseeing business reviews and certification processes is expected to bolster Elite Competitions' compliance operations.
In a statement made public on Tuesday, Elite Competitions expressed its expectation for growth of approximately 60% annually over the next three years, aiming to achieve £100 million in revenue by 2026.
This appointment reflects increasing interest in the UK prize draw sector, which last month saw the formation of an industry trade body aimed at promoting responsible standards and enhancing player protections. According to an April report by Rokker, the UK’s prize draw market generates around £1.3 billion in annual revenue and has about 7.4 million active players.
A recent white paper has identified Elite Competitions as a rising player in this field, with the operator holding a sponsorship agreement with Blackpool FC.
Commenting on his new role, Lynas described Elite Competitions as an "impressive business" that has rapidly developed. "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," he stated.
While the Gambling Commission does not currently regulate prize draws under strict rules, a Voluntary Code was introduced by the Department for Digital, Culture, Media and Sport (DCMS) in May, aimed at increasing transparency and consumer protection in the sector.
This move follows recent confirmations from HMRC that the sector will face a 20% VAT rate, and operators will be required to backdate tax bills to cover previous operations.
By hiring Lynas, Elite Competitions has demonstrated its commitment to adapting to evolving regulations as it grows. Alex Beckett, CEO of Elite Competitions, stated, "Trust and transparency are fundamental to Elite Competitions, and 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. His knowledge of operating within a highly regulated environment will help us continue to make our processes even more robust."
In related news, the German lottery brokerage Zeal, which recently acquired the UK-based prize draw company SevenCanyon, conveyed expectations for increased regulation in the UK prize draw sector. CEO Dr. Stefan Tweraser noted that more regulation could be advantageous for the company, given its experience with heavily regulated operations.
