Mustardbet ceases trading
Operator will settle all open bets as winners following closure this morning
Mustardbet has ceased taking bets, the operator announced this morning.
The firm’s site was disabled today and replaced with a notice of closure.
“With deep regret we must announced that MustardBet has ceased taking bets,” the firm said.
All customer balances are in the process of being returned and all unsettled bets will be settled as winners, the operator said.
The site will remain up for 28 days to allow customers to access their balances and view their transaction history.
The site was relaunched for UK punters in 2017, promising “tight margins, no account closures and re-betting just like on Pinnacle”.
The firm aimed to use its proprietary pricing models, used elsewhere for exchange market-making and reinsurance contracts, for B2C bookmaking.
These B2B activities will continue under the Mustard Systems banner.
The firm was not immediately available for comment when contacted by EGR this morning
That’s a superb way to handle unsettle bets if you have to close down. Some of the sharpest operators in the game behind this venture, if they believe it’s time to draw stumps it says to me it’s now completely impossible to start a new bookmaking business in the UK. A real shame. pic.twitter.com/wL8V6tYbX8
— Nick Goff (@nickgoff79) October 14, 2019