Amidst uncertainties and Brexit conundrum, the UK gambling market is losing its charm amongst online gambling operators offering their products in the regulated market.
The latest to join the club is the French online gambling operator Betclic Everest Group. The gambling operator has confirmed that it would be pulling out of the UK online gambling market.
The operator will be pulling all its brands including Betclic, Everest and Expekt from the market effective October 31. Customers have been asked to withdraw their deposits before December 6 and no new deposits are possible forthwith.
In response to why Betclic has sudden plans to leave the market, it said that the market was “very competitive market” and its brands had suffered from “low performance.”
Several gambling operators in the UK have been facing the heat of stricter regulatory measures recently taken up by the UK Gambling Commission. The retail betting market has seen many betting operators shut shops putting thousands of jobs at risk.
Earlier in the year in July, Betclic won an appeal against the decision of the Italian gambling regulator to reject its gambling license application.
The regional administrative court (TAR) of Lazio, on Thursday, ruled that rejection of its online gambling license application in February by Italy’s Agenzia Della Dogane e Dei Monopoli (ADM) the gambling authority should reconsider regulatory body.
Betclic attorneys submitted written evidence and argued that the gambling regulator had not provided them with an explanation as to why their gambling license application was rejected.