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Bet-at-home leaves UK gambling market after licence suspension

Bet-at-home leaves UK gambling market

The suspension of Bet-at-home’s licence by the United Kingdom Gambling Commission (UKGC) on July 7 has led the Frankfurt-listed operator to exit the British gambling market altogether.

In a press release, the German betting company announced that it will not contend with the UKGC over the suspension of its gambling licence. It also noted that customers can withdraw their available balance up until August 30.

“Unfortunately, we’ve decided to surrender our operating license granted by the UK Gambling Commission and to exit the British market,” the press release reads. 

Following the suspension of its licence last week, bet-at-home stopped accepting new customers. E-mails and messages were sent to existing patrons informing them of the planned departure from the UK betting industry. The customers were told that no further bets would be accepted, and were advised to withdraw their funds. 

Any funds not cleared after the given date will be sent to GambleAware, the UK not-for-profit organisation in charge of raising awareness of gambling harm.

According to the press release by the UKGC, bet-at-home is suspected to have violated section 116 of the Gambling Act of 2005.

“Suspected social responsibility and anti-money laundering failings were key considerations in the suspension decision,” the statement stated.

Bet-at-home has been struggling for a while and is yet to fully recover from the pandemic. In May this year, the company declared that its Q1 revenue saw a huge drop of 50%.

The company laid off over 60 staff when it left the Austria market following the loss of its operational branch in Malta. 

Bet-at-home also left the German market when government authorities made changes to the nation’s gambling laws.

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