Paddy Power Aus brand to shut UK customer accounts
Sportsbet customers will be encouraged to open Paddy Power accounts ahead of changes to the UK licensing regime
Paddy Power’s Australia-facing brand Sportsbet is shutting down its UK customer accounts ahead of the UK’s new licensing regime, which comes into effect on 1 October.
According to the firm, some customers have already been informed of the account closures and have been prompted to open new accounts via its Paddy Power site instead.
The closure comes just weeks before one of Australia’s largest horseracing events, the Spring Carnival, however, Paddy Power confirmed it would offer wagers on the Carnival as well as other Australian markets.
“Sportsbet will not be applying for a UK-based licence and in compliance with the new regime will not be offering any custom in the UK in accordance with regulation that’s effective 1 October,” a Sportsbet spokesman told eGaming Review.
With the 16 September UK licence application deadline fast approaching, offshore operators have been forced to review their UK-facing operations with the jurisdiction preparing to introduce a new costly regulatory regime and 15% profit tax.
Last week a trio of operators – SBOBet, 12Bet and Mansion “ announced they were closing parts of their UK-facing businesses ahead of the new regulations.
According to readers in this weeks’ eGR Poll, the UK should expect further product withdrawals prior to the onset of next month’s licensing regime.