The online gambling operator Novibet officially announced that it has decided to cease operations in the UK and withdraw from the local gambling market with immediate effect after spending 8 years there. The company has informed its customers of the decision and urged them to withdraw any existing funds from their user accounts.
Novibet has also surrendered its operating licence to the country’s gambling regulatory body – the UK Gambling Commission (UKGC) – after deciding to exit the British gambling market. It has been offering its British-facing gambling services for almost 8 years, after being awarded an online casino and sports betting licence in November 2014. According to its own statement, it has been serving more than 368,000 customers in the UK.
At the beginning of the week, the company officially announced that it was withdrawing its operations from the UK gambling market with immediate effect to concentrate on its presence on other regulated markets. A spokesperson for the UK gambling regulatory body confirmed Novibet’s decision, saying that the operator had informed the Commission that it was surrendering its operating permit. The spokesperson of the watchdog also said that the company was aware that the regulator expected an orderly closure of its UK-facing online gambling platform, including the provision of clear information regarding the withdrawal of consumers’ funds.
Through its parent company, Novigroup Limited, the online gambling operators held business-to-business licences (B2B), an online sports betting licence and a bingo licence with the UKGC. For the time being, Novibet holds rights with the Hellenic Gaming Commission (HGC), the Irish Revenue Commissioners and the Malta Gaming Authority (MGA).
Online Gambling Operator Encourages Customers to Withdraw Any Available Funds
Novibet has informed its British customers of its decision to leave the country’s gambling market by sending them a message, saying that the online gambling company would cease its operations in the UK as of February 21st, 2022. The operator further noted that consumers should withdraw any funds that may be in their accounts and encouraged its users to contact its customer support representatives in case of any questions regarding the withdrawals.
As mentioned above, Novibet confirmed that the company was ceasing its operations in the UK to focus on a broader expansion strategy involving the regulated markets of North and Central America.
Other UK assets held by the company have also been either removed already or are in the process of being removed from the country’s market. Novibet’s social media accounts serving the UK market have also already been removed, and its UK Twitter account has been deactivated.
The unexpected decision of the company has triggered many questions among industry experts who have been wondering why Novibet has taken the unusual move to remove its social media accounts at this stage of the exodus. Usually, gambling companies that cease operations in the country are required to maintain their social media accounts up and running so that customers could get in contact with it more easily.
- Author
Olivia Cole
