UK-facing online gambling site Black Type has lost its market, but will survive as a skin of its technology provider FSB Technology.
Recently, FSB posted a message to the BlackType.bet site indicating that Black Type Services Ltd had “decided to put their business into administration and wind down all of their business affairs.” The statement said that Black Type was “a marketing partner that promoted gambling services operated by FSB under their own brand.”
FSB assured customers of the Black Type that their funds were safe and that all unsettled wagers or withdrawals pending would proceed as normal. FSB emphasised that it was and remains “the licensed operator for the account you hold on the Black Type branded website” and therefore the administration proceedings will not impact customers in any way.
Black Type launched in 2016 as a predominantly horseracing betting site with a commitment not to turf winning punters, but two of its founders–former Kambi employees Dave Gowers and Craig Nicholson–left the site in their first two years of operation. FSB offered no explanation as to why Black Type decided to wind up its company, but the likely culprit is the rising regulatory demands on UK-facing sites.
The UK gaming licence of FSB has been recently reviewed by the UK Gambling Commission (UKGC) due in part to the activities of some white label partners of FSB. The UKGC reportedly expressed concerns about FSB’s “levels of due diligence” on some of its clients, including Blackbet, which last August suspended its operations.
1xBet, another FSB white label affiliate, also shut down its UK-facing platform last August after the Sunday Times revealed that some of 1xBet’s activities in other jurisdictions offered cockfights and under-19 athletic events, as well as a live casino featuring topless croupiers.
There have been no further updates on the progress of the licence review from either the UKGC or FSB. At the time, FSB said it was expecting “in short order” a “comprehensive resolution” of the issues of the UKGC.