Bet-at-home confirms exit from the UK market

Bet-at-home has confirmed that it will be surrendering its UK licence just days after it had its licence suspended by the UK Gambling Commission (UKGC).

The Frankfurt-listed firm had its licence suspended for suspected failings in its social responsibility and anti-money laundering (AML) practices.

The UKGC said in an accompanying statement: “We have made it clear to the operator that during the course of the suspension, we expect it to focus on treating consumers fairly and keeping them fully informed of any developments which impact them.”

A statement on the company’s website said that it has decided to surrender the licence and has given customers until 30 September 2022 to request withdrawal of funds from their accounts.

Players have not been able to register for an account or place bets on the site since its licence suspension on 6 July.

The operator has said that any bets which are not settled by 31 August 2022 will be settled with odds of 1.00, and any bonuses will be credited to the account as regular funds.

The statement on bet-at-home’s website reads: “Dear players, unfortunately, we’ve decided to surrender our operating license granted by the UK Gambling Commission and to exit the British market.

“Our customer service is at your disposal for any support or clarification you may need. We apologise for any inconvenience.”

The licence was suspended pending a section 116 review under the Gambling Act 2005. However, the operator has decided to voluntarily surrender its licence instead of waiting for this review.

The UKGC stated that suspected social responsibility and AML failings were “key considerations” in the decision to suspend the licence.

This suspension and withdrawal from the UK market was the latest blow for bet-at-home, following the decision by the Swiss Supreme Court to uphold its prior ruling which denied the firm access to the Swiss market.