Insolvency procedures brought against Betnet
French horse betting site founder says no operator there can compete with monopoly
The tribunal for commerce in the French region of Compiègne has begun insolvency procedures in relation to the dot.fr horse betting site Betnet.
According to iGamingFrance the operator insists that players’ money is safe. Discussions with a potential buyer are said to be ongoing.
Betnet.fr, which received its ARJEL licence in August 2010, will continue to operate as normal while proceedings are carried out, and it is believed that an offer will be forthcoming before Monday,
Patrick Barbe, president and founder of Betnet, explained that approximately half of the company’s 14,500 registered customers are currently active.
Barbe told the French website: “No new operator taking bets only on horse racing has the necessary marketing resources to compete with what is still a monopoly.”