Tuesday March 3,2015 : WEBIS TO SHUTTER BETINTERNET OPERATION
Fixed-odds no longer a viable strategy
Webis Holdings PLC has announced the imminent closure of its BetInternet.com Limited operation saying opportunities for US pari-mutuel business have directed the company to narrow its focus on the development of its WatchandWager business.
Webis describes BetInternet.com as no longer viable due to jurisdictional protectionism for fixed-odds operations by either prohibition or onerous regulatory and levy requirements.
The company said discussion with several interested parties had not lead to any firm offers for the operation which will close for business on March 5, 2015.
Outstanding client balances, secured in segregated bank accounts, will be effected immediately.