Gaming Commission issues a warning about unlicensed Sorare.com
Because Sorare lacks a licence, any activity that players from Great Britain engage in on the site is exempt from the rules that a licenced operator must follow, such as those governing player protection. Customers are advised by the regulator to think carefully about this information before joining Sorare and engaging with it.
The Gambling Commission is presently investigating the firm to determine if Sorare.com needs an operating licence or whether the services it offers do not constitute gambling, according to a statement on its website. In the meanwhile, while those inquiries are still ongoing, we won't be making any further comments.
Users may exchange player cards to assemble their own teams in the blockchain-based fantasy football game Sorare. Based on the success of the players whose cards they own, gamers may also participate in tournaments and compete for a variety of rewards.
This fantasy football website was introduced soon after Football Index, a website that offered wagers on the future performance of certain football players, went belly up. The collapse of Football Index left players short by thousands.
After debts (money owed to players with the status of any potential reimbursement still unknown) grew, the operator stopped all operations.
Interim CEO of the Gambling Commission Andrew Rhodes informed players that the regulator will not reimburse the money lost by Football Index clients and advised them to keep this information in mind before making a deposit on the unauthorised Sorare.