Confidence in prize draw sector grows as Bet365 compliance lead joins Elite Competitions

Elite Competitions, a UK online prize draw operator, has appointed former Bet365 compliance team lead Peter Lynas as its new head of compliance.

During his almost five years at Bet365, he managed the company’s GLI-33 certification programme, which involved rigorous testing of standards widely recognised by US states for sports-betting regulation. 

His role included leading a recent business review and ongoing certification processes, expertise Elite Competitions intends to apply across its own compliance operations.

According to a statement released on Tuesday, Elite Competitions said it anticipated growth of around 60% year-on-year over the next three years. It also expects to achieve £100 million in revenue for 2026.

The move highlights the growing interest in and influence of the UK prize draws sector, which last month established an industry trade body to oversee and promote responsible standards and enhance player protections within the prize draw industry. 

 An April report on the sector by Rokker estimated Britain’s prize draw market now generates an estimated £1.3 billion in annual revenue, and attracts around 7.4 million active players. 

A more recent white paper by the consultancy highlighted Elite Competitions as a growing force within the prize draw vertical. The operator has a sponsorship deal with Blackpool FC.

‘Importance of effective compliance frameworks’

In response to his appointment, Lynas highlighted Elite Competitions’ “impressive business” which he said had been built in a short space of time.

“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 added.

Although prize draws are not currently regulated by the Gambling Commission, and are therefore not subjected to strict rules, a Voluntary Code aimed at raising transparency and consumer protection standards was put in place by the DCMS in May.

Lynas’ appointment also follows expectations that regulations for prize draws will tighten eventually. In recent weeks HMRC confirmed the sector would be subjected to a 20% VAT rate, and that operators would be required to backdate their tax bills to cover historic periods of operation.

By hiring a senior compliance professional, Elite Competitions has signalled its commitment to these evolving standards as it scales up operations.

“Trust and transparency are fundamental to Elite Competitions, and strengthening our compliance function is a key priority as we continue to scale” said CEO of Elite Competitions, Alex Beckett. 

“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,” he added.

More regulation ahead

German lottery brokerage Zeal, which recently acquired UK-based prize draw SevenCanyon, recently told analysts it expected further regulation within the UK sector. 

CEO Dr Stefan Tweraser acknowledged that more regulation would be beneficial to the company due to its preexisting heavily regulated operations.