Wednesday April 17, 2013 : ARJEL PULLS THE PLUG ON SPORTS BETTING SITE
Non-compliance of obligations cited
The French regulatory authority ARJEL has withdrawn the five-year sports betting licence awarded to AUBSAIL SAS in July 2011 saying its operation at france-bet-sportif.fr failed to comply with legal obligations that include rate of return to customers, reporting and technical structures and certification.
France-bet-sportif is owned by Olympic sailing ace Derrendinger Arnaud, a 35-year-old Brestois who raised Euros 2.5 million at the time and expected turnover of around Euro 6 million in its first year of operation. Its initial investors were all Breton sports lovers with faith in the young entrepreneur, who after competitive sailing at the highest level, founded the company in Brest. At the time of the award, the company had a staff of twenty and named its digital partner as Technopole Brest.
A letter from the regulatory authority addressed to customers of france-bet-sportif.fr said:
"The company AUBSAIL SAS is no longer legally entitled to give or offer to the public online sports betting on the site accessible from the address www.france-bet-sportif.fr. It is required to refuse any new bet business and is required to refuse the opening of new player accounts."
Players were further notified that the operator will honor all credits and is required to effect immediate payment on said amounts and as such its operational website is to remain accessible to the public for the sole purpose of returning credit balances of registered players.