An Austrian wagering firm, Bet-at-home, has ceased its UK activities following the revocation of its permit by the UK Gambling Commission. The enterprise faced allegations of non-compliance with the 2005 Gambling Act, particularly concerning areas of social accountability and protocols for combating money laundering.
Although existing patrons were originally permitted to access accounts and retrieve funds, Bet-at-home has subsequently declared it will not contest the license annulment and will fully withdraw from the UK market. The firm notified its clientele that placing wagers or making deposits would no longer be possible and provided a cutoff date for extracting any residual balances.
The online gaming platform, Bet-at-home, experienced a significant decrease in earnings during the initial three months of 2022, with a reduction exceeding 50% compared to the corresponding period in the previous year. The organization generated a mere €14 million (equivalent to approximately $15 million) in gross gaming income, marking a substantial drop from the €30 million achieved in the preceding year. This decline resulted in a considerable financial setback, leading Bet-at-home to declare a loss of €2.7 million for the first quarter of 2022, a stark contrast to the €4.4 million profit reported for the same period in 2021.
Bet-at-home ascribes this negative trend to the challenging regulatory environments in both Germany and the Netherlands.
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