SBOBET closing UK accounts.

[Alborz]

Just got this email today...

I live in the UK and my registered address is in the UK.

So I just thought I'd post this here to give you guys a headsup.

Heres the email:

<quote>Dear ALBORZ,

It is with regret that we wish to advise you that we are no longer able to continue to offer you the betting services with SBOBET.

This unfortunate circumstance has been brought about by the changes to the legislation in your country of residence with regard to online gambling. Unfortunately, it will now be necessary to close your SBOBET Account with effect from 15 September 2014.

However, all outstanding bets you have already placed for events scheduled after 15 September 2014 will not be affected and will be settled once they have been determined. In this event, your Account will remain available for login after 15 September 2014, solely for the purposes of withdrawal of funds but no further betting can be carried out.

If you have any funds remaining in your SBOBET Account, the Account will remain accessible to you for the purposes of withdrawing funds. Kindly sign in, check your balance and make your withdrawal request immediately.

For Accounts with no outstanding bets, if we do not receive a withdrawal request by 30 September 2014, it will be necessary for us to close your SBOBET Account and arrange for the remaining funds to be returned to you via your current nominated payment option.

We wish to take this opportunity to thank you for your fantastic support in the past and would be more than pleased to be of service to you again in the event that there is a change in the regulatory landscape of your country of residence.

In the meantime, if you have any questions, please contact us at support@sbobet.com. Alternatively, you can contact SBOBET Support Team by phone at Europe: +44 1624 721960 and by fax at Europe: +44 1624 721966.


Yours sincerely
SBOBET Support Team
</quote>

 

[Trevrizent]

This is undoubtedly a direct consequence of the Gambling (Licensing & Advertising) Act 2014 which is about to come into force. Under the act remote gambling companies with UK customers will be taxed by the UK government on the profits they make from their UK customers. It has been reported that 12Bet customers in the UK have received a similar email and I would expect more operators to follow suit.

 

[Trevrizent]

Add Dafabet to the list.

 

[quincunx]

To be fair to SBObet,my withdrawal went through OK and I can still access my account because I have an ante-post bet outstanding.
Pinnacle Sports have extended their end-of-betting deadline for UK customers to October the 31st.

 

[Trevrizent]

It's possible that SBOBET and the others will reverse their decision to close UK accounts if the legal challenge to the Gambling Act and its 'point of consumption' tax launched by the Gibraltar Betting and Gaming Association is successful (although personally I don't think the GBGA challenge will succeed).

 

[mophead]

Yeah I wouldn’t hold my breath on this getting overturned. From everything I’ve been reading it looks like a certainty to go ahead.

My advice would be to withdraw funds from the offshore books and exchanges and only bet at those based in the UK.

If you really must continue betting at the ones based in Gibraltar or Alderney and places like that, I suggest playing small stakes or stick with the short term bets rather than the long term ones that will keep your funds tied up with them all season.

You can find a list of the UK licensed sites here: http://online.casinocity.com/jurisdictions/united-kingdom/

Personally I’ve been betting with Bet365 and WBX who are UK based and find that suits me.