Bethard Group has announced next month that it will terminate its entire presence on the UK online gaming industry.
The gambling company based in Malta announced to UK consumers that their flagship brand Bethard will no longer allow wagers or further transactions as of 6 July.
UK customers were given to withdraw funds and clear their player accounts until August 10, as Bethard closes its UK presence in line with UKGC licencing procedures.
Bethard clarified that it’s UK departure follows a strategic lockout analysis where management decided to concentrate on ‘profitable markets.’
As part of the multi-market expansion of the business targeting growth in the UK, Denmark and Ireland, the operator obtained its UKGC licence in 2018, having established its presence as a challenger sportsbook in its home market of Sweden.
In the exit statement, Bethard management opted not to discuss any clear reasons for its decision to leave the UK online gaming scene, simply pointing out that it has reviewed all marketplace options.
The UK has seen a number of licenced incumbents exit the market, including 188BET, Betclic Everest, ComeOn and Royal Panda, online gaming fee, regulatory and enforcement reforms implemented between 2019 and 2020.
Bethard management announced that the company, through licences for Malta, Denmark, Ireland , Spain and Sweden, will retain its presence in all other developed markets.