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Stoyan Todorov September 29, 2021 3 min read
Redbet to Cease Operations in the UK from October 27
Redbet has announced that it would be pulling out of the United Kingdom market by October 27 with bonusing, withdrawals and pending bets receiving a grace period to be finalized.
The company, which is operated under William Hill’s, and by extension, 888 Holdings’, network broke the news on its website, informing users that it would discontinue operations in the UK next month.
Detailing an Unexpected Withdrawal
Players will have until November 26 to withdraw their funds, giving a full month for any leftover balance to be moved off the platform. The minimum withdrawable amount has been lowered to roughly £1.00 ($1.50) to make it easier for players to cash out any remaining money in their accounts.
The company didn’t offer any reason for its exit in a post left on its website. In fact, unless you’re specifically looking for the notice, it can’t be found. Only after digging around the site and landing in the help section is the notice located, and it simply reads, “We regret to inform you that ‘redbet’ has taken a decision to cease operating in the UK.” It provides a short FAQ, as well, but no additional information.
Similarly, Redbet informed affiliate partners that it would no longer accept residents of the UK, encompassing England, Northern Ireland, Scotland and Wales, from October 27, 1:00 PM GMT. On this date, any unsettled bonuses will also be forfeited automatically.
The company promises that it would seek affiliate assistance once again should anything change and Redbet seeks a UK reentry, which seems unlikely for the time being. Any outstanding bets that are settled before November 19 will be honored, as well, the company reassured.
Redbet was part of a rollercoaster of acquisitions that started with a Mr Green Group buyout in 2018, which was later bought out by William Hill in 2019 that later became part of 888 Holdings.
UK Gaming in a State of Flux
Despite no clear reason for the departure, the UK gaming industry is undergoing a lot of changes. Some of these aren’t appealing to operators without massive client bases and it’s likely that more companies are going to throw in the towel, as well. New attempts at further restricting the industry continue to be introduced and there have been some questionable calls made lately by regulators that have left operators uneasy.
Not even the UK Gaming Commission (UKGC) is safe from scrutiny. It is now reportedly being investigated for its operational integrity, with the Parliamentary All-Party Betting and Gaming Group (APBGG) concerned that the commission might not have the level of competency needed to oversee the market. This could impact current and future reviews of the gaming laws in the UK, further exacerbating a problematic situation.