A prominent European gaming provider, Bet-at-home, has ceased its UK operations following the revocation of its license by the UK Gambling Commission.
The firm disclosed the closure on its platform, indicating that it would not challenge the Commission’s ruling. The Commission suspended Bet-at-home’s license in July 2022 due to apprehensions regarding the company’s social responsibility and anti-money laundering protocols, which contravene the Gambling Act of 2005.
Initially, Bet-at-home stopped onboarding new clients and deactivated its wagering and deposit functionalities. However, existing patrons could still access their accounts and retrieve their funds.
In the announcement posted on its website, Bet-at-home stated: “Valued Players, we regret to inform you of our decision to relinquish our operating permit granted by the UK Gambling Commission and to exit the UK market.
You are presently unable to register, place bets, engage in games, or make deposits with us. You have the option to log into your account and initiate a withdrawal of any remaining balance via email by 30.09.2022 (10:00 AM UK time).”
Online wagering platform, Bet-at-home, experienced a challenging commencement to 2022. The initial quarter witnessed their earnings plummet by over 50% in contrast to the corresponding period the previous year. This decline was primarily attributed to revised legislation implemented in two of their most substantial markets, Germany and the Netherlands.
To illustrate the severity, their gross gaming revenue only reached €14 million – a stark contrast to the €30 million generated in the first quarter of 2021. This resulted in a considerable financial setback, transforming their €4.4 million profit from the preceding year into a €2.7 million deficit.
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