Novibet surrenders UKGC licence and exits market
Online operator packs up shop in the UK after almost eight years as customers instructed to withdraw funds from accounts
Novibet has surrendered its UK Gambling Commission (UKGC) licence and has ceased operating in the UK market from today, 21 February.
The tier-two operator is set to leave after first being awarded an online casino and sports betting licence in November 2014 as it refocuses on other regulated markets.
Via its parent company, Novigroup Limited, Novibet went on to secure a B2B licence, virtual sports licence and bingo licence with the UKGC.
Confirming the operator’s decision to EGR, a UKGC spokesperson said: “We have been informed by Novigroup Ltd that it is surrendering its licence.
“The operator is aware that we expect an orderly closure of its website to GB consumers and this includes providing consumers with clear information on how to obtain their funds. If a customer has questions concerning their account they should contact the operator via its website,” the spokesperson concluded.
A statement on Novibet’s UK-facing site reads: “We would like to inform you that Novibet will not continue to operate in the UK from 21.02.2022.
“If you already have funds in your game account, please kindly withdraw them. For any questions or clarifications please contact our customer support team. Thank you in advance for your cooperation.”
Users are unable to register new accounts with Novibet, while EGR understands there is no minimum withdrawal limit in place.
Novibet remains on the Oddschecker grid but when clicking through to the operator’s site, users are met with a 404 error message. Novibet’s UK Twitter account has also been deactivated.
However, when operators surrender a licence the UKGC noted firms’ communication should include all available means, including direct contact with consumers, notices on the outside of premises (where applicable) and wider messages on social media.
Novibet told EGR it remains in direct and constant communication with the UKGC and customers regarding its withdrawal from the market.
In a statement, Novibet confirmed the decision to leave the UK market was part of a wider strategy for the firm which will see the operator target North and Central American regulated markets.
The statement read: “Novibet has decided to surrender its Gambling Commission of Great Britain licence with immediate effect, on February 21, marking the conclusion of eight years proudly serving more than 368,000 customers.
“Novibet is solvent, customer funds are safe, and the cessation of business will be undertaken in an orderly fashion. All departments at Novibet are prepared for the smooth withdrawal from the [UK] market, and Novibet invites its members to withdraw any funds in their customer accounts,” the statement concluded.
Novibet still holds gambling licences from regulators in Greece, Malta, Italy and Ireland.
Last year the company transitioned to a new proprietary mobile platform.