Isle of Man-based online gambling operator 188Bet withdraws from British and Irish markets with immediate effect, though company says it is solvent.
This morning Isle of Man-based online gambling operator 188Bet ceased offering services to players in Great Britain, Northern Ireland, the Channel Islands, Gibraltar and Ireland.
According to Annatar Limited, the owner of 188Bet, the decision to cease operations was a commercial one taken in light of a very competitive market, and it was stressed that the company is solvent and will meet its financial obligations.
Information has been posted on the 188Bet site advising customers of what to do, and letting them know that they will be able to log in and withdraw their funds until 23:59 (GMT) on 30th August 2019.
The operator has said all pending bets for events up to 23:59 on 20th June will be honoured, but single bets for events after that will be voided and stakes returned. Likewise, multiple bets for events up that date will be settled normally, but wages with winning multiple selections as of 23:59 on 30th June, that still have unsettled specifications for events after that date, will have those specifications voided and the bet settled within 48 hours.
188Bet has been no stranger to controversy, making the headlines for offering live bets on academy games that featured players as young as 14 – though the company insisted this was to cater for its large customer base in Asia.
The brand has been closely involved with English football, at times being the official gambling partner of both Chelsea FC and Aston Villa FC, and shirt sponsor of Bolton Wanderers and Wigan Athletic.
AYO.NEWS says:
The news that 188Bet has decided its no longer worth catering for the markets covered by the UKGC and ASA is hardly surprising, given the increasingly draconian nature of their rules which are turning marketing and advertising in those markets into a high risk minefield. It wouldn’t be surprising to see more operators follow the same course in the next few months, as they decide to concentrate on higher-growth, less regulation-heavy markets around the world.
