188BET withdraws from “very competitive” UK market
Betting firm says it will continue to operate in other jurisdictions and honour ante-post for all events occurring up to 30 June 2019
188BET today announced it has withdrawn from the UK online gambling market, with the betting operator citing the “very competitive” nature of the market as the reason behind the decision.
The online sportsbook ceased operating today in Great Britain, Ireland, Northern Ireland, the Channel Islands and Gibraltar, but said it would continue to operate in other jurisdictions as normal.
1888BET told customers they must withdraw their outstanding balance before 30 August 2019 but said it would honour ante-post and pending bets for all events occurring up to 30 June 2019.
Single bets placed for events after that date will be voided and the stake returned within two days, while multiples with remaining unsettled selections for events after that date will also see those selections voided.
188BET was previously the shirt sponsor of rugby league club Wigan Warriors
“This is a commercial decision in a very competitive marketplace,” the operator said.
“Annatar Limited is solvent and fully able to meet all its financial obligations which includes its customer funds that remain ring-fenced and safe.
“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.”
188BET, which is predominantly focused on the Asian betting market, placed 41st in last year’s EGR Power 50 Rankings.
188BET’s full FAQs explaining the closure can be read here.