UK Gambling Commission Investigates Sorare

The UK Gambling Commission (UKGC) has launched an investigation into Sorare, a company that offers digital collectible cards of real athletes on a marketplace. The UKGC suspects that Sorare’s game concept may resemble licensed gambling providers.

UKGC Acts After Reviewing Sorare

Sorare, a French company founded in 2018 by Nicolas Julia and Adrien Montfort, has been a sponsor of the British Premier League since the 2022/23 season. An inquiry into Sorare began in October 2021, with a hearing scheduled for October 4 in Birmingham.

Allegations Against Sorare

Sorare is described as a fantasy sports video game based on cryptocurrency. Players can build virtual teams to win money prizes, VIP tickets, or exclusive merchandise. The UKGC has not disclosed specific allegations, but it may argue that Sorare resembles other popular fantasy games offered by licensed providers like FanDuel and DraftKings.

Unique NFTs by Sorare

Unlike FanDuel or DraftKings, each player on Sorare is limited in quantity as a Non-Fungible Token (NFT) on a blockchain. Some players are available only up to 1000 times, making certain cards traded at high prices due to rarity.

Sorare Denies Allegations

Sorare’s spokesperson refuted the UKGC’s claims, stating that Sorare’s business model is not gambling. The company may argue in court that Sorare does not involve real money, as all transactions are in the cryptocurrency Ethereum.