The gambling company Redbet, which operates under William Hill, revealed that it would cease its operations in the UK as of October 27th. The operator made an announcement that it is going to discontinue its UK-facing services on its website, saying that it would provide its local customers with a grace period to finalize pending bets, bonuses and withdrawals in their accounts.
The gambling operator did not provide a reason for its decision to exit the UK. Even more, the announcement for the closure of its operations in the country is quite hard to be found, unless the platform’s visitor is not specifically looking for the notice, as it has been published as a post in the help section of the website, saying:
“We regret to inform you that ‘redbet’ has taken a decision to cease operating in the UK.”
There is also a short FAQ section under the notice providing players with more information about the upcoming cease of operations.
At the time when it announced its unexpected withdrawal from the country, Redbet revealed that players will be given until November 26th to withdraw funds from their customer accounts. The gambling operator considerably reduced the minimum withdrawal amount to £1.00 in order to make it easier for consumers to cash out any money that may be left in their accounts.
Stricter Legislation and Regulatory Rules Fends Off Gambling Companies from the UK
Apart from publishing a note for its customers, Redbet also informed its affiliate partners of the decision to no longer target UK customers originating from England, Scotland, Wales and Northern Ireland as of October 27th. The company further explained that, as of this date, any unsettled bonuses are set to be automatically forfeited.
The gambling company that operates under William Hill, which has been recently bought by 888 Holdings, pledged to seek its affiliates’ help in case the situation changes and Redbet decides to re-enter the UK at a later stage. For the time being, however, such a move seems unlikely. The company also reassured that it will honour any outstanding bets that are settled before November 19th.
As mentioned above, Redbet did not provide any clear reason for its decision to stop offering its services in the UK. Previously, Casino Guardian has reported that the country’s gambling sector is currently undergoing a lot of changes not only because of some financial difficulties that may have occurred for businesses as a result of the lockdowns during the coronavirus pandemic but also ones associated with stricter regulation of the industry by the British Government and local gambling regulators.
Some gambling companies, especially ones that do not have large customer bases, have been seriously affected by the legislative and regulatory overhaul, so analysts say that the number of operators leaving the UK gambling sector could increase in the months to come. The Government is making an effort to impose even more restrictions on the industry, with an ongoing review of the gambling legislation of the country also taking place.
- Author
Olivia Cole
