Betfred seems to have won the competitive auction for the customer database of online gaming operator MoPlay, as the owner company Addison Global has fallen into insolvency.
Clients’ Database Auction
The companies bidding for the UK section of the MoPlay’s clients featured strong competition from operators such as BetVictor, Star Sports and Virgin Media, but Betfred looked to have won the auction as the company that owns the brand, Addison and Petfre /Gibraltar/ Ltd, informed in an e-mail all customers of the insolvent operator that are residents in the UK and Ireland they could withdraw their MoPlay balances after registering a Betfred account.
MoPlay went into insolvency after, initially its license was suspended by the Gambling Licensing Authority in Gibraltar, followed by a suspension of license in the UK by the Gambling Commission, after the company that operated the brand, Addison Global, had been failing to meet its obligations towards affiliate companies for a significant amount of time, without showing any improvements or main shareholder efforts to rectify the situation.
Liquidation Halted Withdrawals
Initially MoPlay announced it will honour its clients’ outstanding balances, but after the Supreme Court of Gibraltar appointed a liquidator for Addison Global, all withdrawals were halted and customers with money on their accounts left hanging in the air as MoPLay’s Terms & Conditions stated it did not provide any clients’ funds protection.
All operators are obliged by the Gambling Commission to inform their clients what level of customer funds protection is implemented, no protection, medium and high, being the three classifications offered by the gaming regulator as a reference.
“We regret this situation and apologise for all the inconvenience and hardship caused to customers. We are presently exploring possibilities to resolve this situation by seeking to enter into arrangements with the aim of safeguarding the customer balances.”MoPlay website statement
With no customer funds’ guarantees in place, the option of selling the operator’s database promised to provide a possible solution to the issue regarding halted withdrawals and restore clients’ outstanding balances, and Betfred acquired the UK-section of the customer database, 45,000 clients, with no further details provided as to how much the UK operator would pay for that.
Solution Found, Clients’ Money Saved
All it would take for the MoPlay’s customers willing to get their money back is to register an account with Betfred, and the operator would get in contact with them within the next 72 hours to provide details on how to proceed with the withdrawals.
Unlike outstanding customer balances with MoPlay, open clients’ bets with the operator would be deemed void and stakes will be returned to the customer user accounts.