Elite Competitions, a UK-based online prize draw operator, has appointed Peter Lynas, the former compliance team lead at Bet365, as its head of compliance. Lynas brings nearly five years of experience from Bet365, where he oversaw the company’s GLI-33 certification program, known for its rigorous testing processes recognized by US states for sports betting regulation.
His responsibilities included guiding a recent business review and managing ongoing certification efforts, knowledge that Elite Competitions plans to integrate into its compliance strategies.
In a statement issued on Tuesday, Elite Competitions expressed expectations for a significant 60% growth year-on-year over the next three years, aiming for revenues of £100 million by 2026.
This appointment underscores a rising interest and influence within the UK prize draw sector, which has recently launched an industry trade body aimed at promoting responsible standards and enhancing player protections. An April report from Rokker estimated that the UK prize draw market generates about £1.3 billion annually and serves around 7.4 million active players. The consultancy’s recent white paper pointed out Elite Competitions as a rapidly growing player in the sector, with a sponsorship deal in place with Blackpool FC.
Commenting on his new role, Lynas called Elite Competitions an "impressive business" developed in a short timeframe. He said, "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."
Currently, prize draws are not regulated by the Gambling Commission and are absent strict regulations. However, a Voluntary Code aimed at increasing transparency and consumer protection standards was implemented by the DCMS in May. Lynas’ appointment coincides with expectations of tighter regulations for the sector. Recently, HMRC confirmed a 20% VAT rate would apply to the industry, requiring operators to backdate tax bills for previous operational periods.
By engaging a seasoned compliance professional, Elite Competitions has signaled its commitment to adapting to these expected changes as it expands its operations. 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."
Moreover, Zeal, a German lottery brokerage that recently acquired the UK prize draw firm SevenCanyon, commented on the anticipated regulatory developments within the UK sector. CEO Dr. Stefan Tweraser noted that improved regulations would benefit their operations due to their existing framework in heavily regulated environments.
