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German authorities have conducted a major crackdown on an alleged illegal online gambling operation suspected of facilitating wagers totalling approximately €5.86 billion over a 30-month period. 

According to the German Press Agency, the Frankfurt public prosecutor’s office, together with the Frankfurt tax investigation unit, the State Office for the Combat of Financial Crime in North Rhine-Westphalia and Frankfurt police, executed coordinated searches across 11 premises on Tuesday.

Over 100 officers participated in the operation. Authorities seized several high-value vehicles, froze numerous bank accounts and imposed an asset restraint order valued at around €82 million. An arrest warrant was also executed.

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As of yet, the Securities and Exchange Commission (SEC) hasn’t approved the aforementioned NHL futures ETFs.

For the right audience, likely professional traders and sophisticated retail investors, the CME futures on FutureSports indexes could amount to “Goldilocks” offerings because the derivatives aren’t standard sports bets nor are they carbon copies of the event contracts traded on prediction markets.

The MLB and NHL futures contracts could be deployed by big-money bettors as hedges on various team exposures over the course of those leagues’ seasons.

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OpenBet describes OmniLogic as “the partner of choice for lotteries worldwide”.

Nikos Konstakis (pictured above), president of OpenBet, described the acquisition as “a natural extension” of the company’s ongoing strategy to serve operators in the most regulated and demanding markets. 

He emphasised lotteries were a pivotal focus area for future growth, saying they “remain the core focus of our growth strategy, and OmniLogic has built a strong reputation in this sector through long‑standing customer partnerships and a deep understanding of their requirements”.