The Gambling Commission has accused Sorare, a $4.3 billion company promoted by the Premier League, of providing unlicensed gambling services.
The UK regulator is set to prosecute Sorare, which creates a fantasy football game, in a rare legal action, with the company expected to appear in court on 4 October. Sorare, backed by major investors like SoftBank, denies the charges.
Founded in 2018 by Nicolas Julia and Adrien Montfort, Sorare is a fantasy sports platform using cryptocurrency and NFTs. Players build virtual football teams with tradable cards and compete for rewards like cash, VIP tickets, and signed memorabilia.
In 2021, the Gambling Commission began investigating whether Sorare’s offerings qualified as online gambling and required a license. Nearly three years later, the regulator has formally charged the company, which will face the Birmingham magistrates court.
Sorare has strongly denied the claims, arguing that the commission misinterpreted its business model and UK gambling laws. A company spokesperson stated:
We firmly reject the allegation that Sorare is a gambling product under UK law.
The company’s partnerships include all Premier League clubs, as well as top European teams like Real Madrid and Barcelona. Sorare has featured athletes such as Kylian Mbappé in its marketing campaigns and has partnerships with the NBA and MLB. In 2023, the Premier League awarded Sorare a four-year license to sell digital sports cards, a deal estimated to be worth £30 million annually.
Among Sorare’s investors and ambassadors are high-profile sports figures, including Serena Williams, Lionel Messi, and Gerard Piqué. The company, which operates in 180 countries with 3 million users, is recognized as one of Europe’s fastest-growing startups. The Gambling Commission stated that while Sorare has been charged with operating unlicensed gambling facilities, it cannot provide further details at this time.
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