Citing the high level of competition, Online gambling operator 188Bet has stopped operating in the UK and the Republic of Ireland, including the Channel Islands and Gibraltar.
Annatar Limited, 188Bet’s parent company, said that the move is a “commercial decision in a very competitive marketplace.”
“Annatar Limited is solvent and fully able to meet all its financial obligations which includes its customer funds that remain ring-fenced and safe,” Annatar said in a press statement. “We have provided advance notice of this to our regulators and we will manage the closure of our Great Britain, Northern Ireland, the Channel Islands, Gibraltar and Ireland business and return customer funds in an orderly manner.”
The company said it is no longer accepting new customers in any of the affected markets or taking any bets. The company will honor all pending bets for events occurring up to June 30, 2019, but single bets for events after this deadline will be voided and the stake returned within 48 hours.
Customers with any funds left in their accounts have until midnight on August 30 to login and withdraw their outstanding balance.
188Bet launched in the UK in 2006 and had a number of sponsorship deals with UK sports clubs.
