Annatar Limited, the holding company of online bookmaker 188BET, has announced that it will no longer service the UK and Irish online gambling markets.
In operation since 2006, 188BET also boasts an affiliate program with a revenue-share model on net winnings of 25%-40%.
This morning Annatar published a full closure announcement on the 188BET.co.uk website, stating that it had ceased providing services to players located in the UK, Ireland, Channel Islands and Gibraltar.
In its statement, Annatar maintains that the company is ‘solvent’ and will meet its financial obligations by terminating 188BET’s British and Irish services, including the ring-fencing and refunding of player accounts.
Annatar details that its UK and Ireland closure is a ‘commercial decision operating in a very competitive marketplace’. The betting group will cooperate with all relevant regulators as it handles its website closure and customer refunds in an orderly manner.
The bookmaker confirms that it will honour all ante-post, pending, and multiple bets that have been placed on markets up to 23:59 hrs (GMT+1) on 30 June 2019. Furthermore, single-bets placed for events after 23:59 hrs (GMT+1) on 30 June 2019 will be voided and the stake returned within 48 hours.
188BET initially launched as a specialist bookmaker in in-play markets, and becoming the first online bookmaker to sponsor two Premier League football clubs in Bolton Wanderers and Wigan Athletic.
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