DCMS Voluntary Code to Act as Quality Signal in Rising UK Prize Draw M&A Activity
Tom Banks, executive director of the PCC, says the DCMS Voluntary Code implemented in May will become a kite mark for prize draw M&A. Only 20% of operators have signed it. The PCC’s 70 members represent 90-95% of the UK market amid rising acquisitions by firms like Winvia and Zeal Network.
SCCG Take — Code adherence is emerging as a due diligence factor in prize draw deals. Operators and acquirers should treat it as a de facto quality threshold to reduce regulatory and reputational risk.
The newly appointed executive director of the Prize Competition Council has identified the Department for Culture, Media and Sport Voluntary Code of Good Practice for Prize Draw Operators as a forthcoming “kite mark” for mergers and acquisitions in the sector. Tom Banks said the code, implemented in May, offers a foundation for standards as the UK market expands and consolidates.
Speaking to iGaming Business, Banks described the UK prize-draw market as a British success story driven by entrepreneurial technology companies. The Prize Competition Council, formed earlier this year, now counts roughly 70 members that represent 90%-95% of the market. These include Elite Competitions, Winvia Entertainment, That Prize Guy, Giveaway Guys, McKinney Competitions, Raffolux and Daymade.
Code Adoption and Its Link to Deal-Making
A Rokker report from August found only 20% of UK operators had signed the voluntary code. Banks urged wider uptake. Signing up to the code is clearly going to be a kite mark for operators. He added that the council’s work on high standards and collective voice matters as the surge in M&A continues.
London-listed operator Winvia has acquired several small players to increase market share. In July, German lottery brokerage Zeal Network acquired UK operator SevenCanyon and highlighted the code’s value. CEO Dr Stefan Tweraser stated at the time: “We expect the UK prize draw to continue moving towards more formalised rules and higher regulated standards. This should really favour us with strong experience over the last 20 years in a highly regulated market like Germany.”
The code addresses player protection and ethical marketing. It provides for optional monthly spend limits while allowing operators to set their own. Banks noted the council is engaging directly with the DCMS and HM Revenue & Customs on VAT backdating and other compliance issues to give businesses the certainty needed to plan and invest.
PCC Objectives in a Maturing Market
Banks said the council will champion the sector’s positive contribution to UK PLC and support its responsible growth. The board structure reflects the membership’s diversity so every voice is heard. He expressed surprise at how seriously operators have taken the code since its introduction and pledged further support for evolving standards.
The PCC plans to offer practical guidance, share best practices and convey industry perspectives to policymakers with openness and transparency. Banks drew on his prior work on the 2023 UK white paper to frame this engagement. He cautioned that rapid recent change means the sector’s exact shape in the next few years remains uncertain, but the council will serve as its voice throughout.
Reporting: iGaming Business (iGB)
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
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