The Dublin-headquartered internet gambling casino BetBright, announced its shutdown just a day after it was reported that it had been purchased by one of its rivals, 888 Holdings. The purchase happened just a week before the Cheltenham Festival.
BetBright posted a message on their official website on the 5th of March. It said that they have stopped providing online gambling services to their players on a permanent basis. The casino operator also stated that players will still be able to access their casino accounts for about 30 days and advised them to withdraw their funds as soon as they can.
Details on the Closure of BetBright
BetBright added a link to their FAQs section which explained that all the single bets that are due to settle on 5 March would be cancelled. They further stated that multiple unsettled bets due past the former date would be settled as winning bets. In the event that a player has an active free bonus or bet after the casino closes down, the amount will be added to their account as cash and will be withdrawable.
BetBright’s shutdown and its decision to cancel unsettled bets will affect the bets that were already placed on the upcoming Cheltenham Festival. Britain’s biggest horserace event is scheduled to take place between 12 and 15 March. This festival is a massive event for all horse racing fanatics.
Wagers that were placed on the UEFA Champions League and the English Premier League, amongst others, were also affected by the shutdown of BetBright casino. As previously mentioned, 888 Holdings made an announcement on 4 March stating that they bought BetBright casino at a price of US$15 million. The online gambling giant reported to the media that they were lured by BetBright’s sports betting section since they are also looking to expand their market.
Overview
It became clear after the closure of BetBright that this deal was initially about 888 purchasing the technology that powers the online gambling operation. The outstanding liabilities on wagers and the customer base was left to BetBright casino to clear and deal with. On Tuesday, the UK Gambling Commission reported to the media that they have been receiving a lot of complaints with regards to the shutdown of BetBright casino and their decision to void wagers. To add on, they stated that they will be ‘making further enquiries’.
