GOONERSGUIDE BOOKMAKERS NEWS SECTION

This is our Bookmakers news section where we provide any news items that might have a significant effect on the matches being played - or sports betting in general.

Bookmakers News :: 188Bet closes doors to UK & irish punters

Posted on 2019-03-27 by Gooner

The website of 188Bet.co.uk was closed down on Tuesday morning except for a page informing customers the business has with stopped taking bets in the United Kingdom, Ireland, the Channel Islands and Gibraltar.

The company site stated simply: "This is a commercial decision in a very competitive marketplace." 188Bet's operations in other territories will continue as normal.

The statement also made clear Annatar is solvent and able to meet all financial obligations, with customer funds ring-fenced and safe.

The majority of punters with live ante-post bets will have their wagers honoured. All pending single bets for events occurring up to the end of June 30 will stand, and the components of multiple bets that conclude before the end of June 30 will be honoured. Those placed for events that take place after that time will be voided with stakes returned.

Anyone with funds in a 188Bet account must withdraw money by August 30. A closure announcement on the 188Bet website added: "If you have any funds in your 188Bet account, please log in and withdraw your outstanding balance as soon as possible."

The 188Bet brand is mainly focused on the Asian market, where they are one of the larger players.

An analyst for Dublin-based stockbrokers Goodbody said: "In total we believe that 188Bet only accounted for a small proportion of the UK online market, less than three per cent.

"However, their respective exits from the market highlights the competitive nature of the market and the difficulty for sub-scale operators to have a long-term future.

Sourced From : Racing Post

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