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SBOBET OPTS OUT OF BITISH MARKET
Saturday September 6 2014 : SBOBET OPTS OUT OF BITISH MARKET
Follows Mansion group in advising players virtual doors will close on September 15.
Isle of Man-based but mainly Asian-facing online sportsbook SBObet has followed the Mansion group in opting out of the UK online gambling market due to the forthcoming regulatory point-of-consumption regime.
Like Mansion, SBObet has communicated with its British players, advising them it will close its virtual doors September 15.
The company made no bones about the reasons for its decision, saying it was unfortunately a direct consequence of the new gambling laws in the UK due for implementation on October 1, but assured punters that all obligations would be honoured, and that they would have until the end of September to withdraw any positive account balances in full.
Those who do not do so will be refunded anyway as the company shuts down their accounts.
Another operator, 12Bet, appears to be splitting its operations in the UK market, with the sportsbook side closing out Brit punters, but the online casino division seeking licensing and continuing to operate in the UK market.
Both SBObet and 12bet sportsbooks have sponsorship agreements with British football clubs, and the position remains unclear on how this will be accommodated, given that the new licensing requirements preclude unlicensed operators from any form of promotion or advertising in the UK market.
Even the Gambling Commission appears to be unsure on this point, opining earlier this year that only the courts can deliver a specific decision.
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