Bet-At-Home Has Licence Suspended, Pulls Out of UK

By | July 13, 2022

Bet-At-Home, the German Casino, slots, and sports betting company, has pulled out of the UK.

The announcement came just days after the UKGC suspended its licence, meaning it is unable to onboard new customers in the UK. As a result, the company would have faced a review which, if satisfactory, would see the UK licence restored. However, the company which recently had licencing issues in Austria resulting in the loss of 65 jobs, will not fight the suspension or face the review. Instead, the company has ceased operations in the UK altogether.

UK customers of the platform haven’t been able to place bets or wager at the online slots since July 6th with the license suspension happening a day later on July 7th Now a statement on the company website reads

“Unfortunately, we’ve decided to surrender our operating license granted by the UK Gambling Commission and to exit the British market.”

The suspension does not prevent the operator from allowing consumers to access their accounts and withdrawing funds. Bet-at-home.com Internet Limited – which operates bet-at-home.com, bet-at-home.co.uk and uk.bet-at-home.com – can be contacted through its website. UK players will be able to withdraw the money from their accounts until September 30, 10 pm

The UKGC on its website said that the company had its licence suspended in accordance with section 118 (2) of the Act 

A statement from the UKGC said:

“That activities may have been carried out contrary to the Act, not in accordance with conditions of their licence, and that the Licensee may be unsuitable to carry on the licensed activities. Suspected social responsibility and anti-money laundering failings were key considerations in the suspension decision.”

Bet-at-Home Troubles Continue

The latest news from the gambling company continues a difficult period for Bet-at-Home. As well as Austria, Bet-at-Home has had more regulatory difficulties across multiple European countries, with Germany and Netherlands being the most prominent markets.

Following a tough pandemic for sports betting companies with virtually no sports for their customers to bet on, bet-at-home’s financials were 11.4% down in its financial results for 2020 from the year before.

In May this year, the company founded in 1999 and headquartered in Dusseldorf, announced its Q1 revenue dropped by around 50% to $15.0 million (£11.9 million/€14 million).

 

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