188BET Withdraws from UK Market
March 26, 2019
Online bookmaker and former Chester Cup sponsor 188BET have announced that they have withdrawn from the UK market and have ceased operating and providing online gambling services in Great Britain, Northern Ireland, Gibraltar and the Channel Islands.
188BET is the latest of a number of online bookmakers to close their doors following BetBright’s departure last month after being acquired by 888 Holdings.
UK visitors to the 188BET website on Tuesday morning were presented with a closure announcement explaining that the operator, under the company name Annatar Limited, will cease providing gambling services to the markets mentioned above. Not a great deal of information is provided other than the operator stating:
– This is a commercial decision in a very competitive marketplace.
Customers of 188BET should not be too alarmed as the company has stated that they are solvent and ‘fully able to meet all its financial obligations which includes its customer funds that remain ring-fenced and safe.’
Any ante-post or pending bets will be honoured for all events taking place up to 23:59 (GMT +1) on 30th June 2019. Single bets placed on events which take place after this deadline will be voided and stakes will be returned within 48 hours. Multiple bets which contain selections taking place after the deadline will also be voided with the multiple bets continuing to run and settled with selections on events prior to the deadline.
Customers have been advised that they have until 23:59 (GMT +1) on 30th August 2019 to withdraw any funds from their accounts. If your account contains no funds and you have no active bets, there is no action to take.
188BET will continue to operate as normal in other territories such as the Asian market where they are considered as one of the main online gambling brands. Exact reasons for 188BET’s departure from the UK market are unclear but it is expected that it is mainly due to the competitiveness of the market, regulations and imposed taxes on gambling operators the UK.