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What is The Racaroon?
According to OpenBet’s announcement, Konstakis is set to step into the CEO office at the end of the year. At the same time, Levin will transition to the chair role. In this position, he will continue to play a key role in shaping OpenBet’s long-term strategy.
For reference, Konstakis is no stranger to OpenBet’s business. He has been involved with the business for a while, serving as its president. In this role, he has been closely involved in “driving the operational and commercial execution of the business and shaping its strategic priorities.”
In his new role, Konstakis will be responsible not only for OpenBet’s strategy, but also for its day-to-day business, growth initiatives, and tech priorities. At the same time, he will be tasked with “raising the bar” in how OpenBet serves its clients.
How to play The Racaroon
This required operators to subject players to rigorous checks before signing up new VIPs, including having their betting behaviour being closely monitored.
Operators were also banned from incentivising customers based on losses, and reward programmes must be overseen by senior management. The code restricts any player under the age of 25 from taking part.
According to a GC report from 2025, the number of VIP customers in the market had dropped by 95% per operator since the strengthening of restrictions.
What is The Racaroon?
Furthermore, the company sent 839 electronic messages to 165 individuals who had self-excluded, along with a further 2,000 push notifications to 45 customers without including the mandatory BetStop information.
ACMA’s investigation revealed multiple compliance breaches, primarily concerning account management and marketing controls.
The regulator noted that several inactive accounts remained open long after users requested exclusion.
