mybet folds on its poker offering

It has been announced that mybet is to stop offering poker on its site as it looks to reassess and focus its efforts on betting and casino games.

This announcement follows the news that mybet has sold its stake in Pferdewetten.de, the German horseracing betting firm, in order to raise some much needed funds. The mybet group lost €8 million (£6.6m) last year.

In 2015 the operator’s poker arm generated  under €1 million (£812,000) in revenue and as such formed a small part of a total revenue of €63m (£52.4m). Operations will end on June 30th.

The company will now inform customers about how their accounts will be managed, and how they can have their funds returned.

Zeno Osskó, mybet Chief Executive, said of the decision: “The poker business contributed with only a minor share to our revenue and delivered virtually no contribution to the operating result of the group.”

In addition, we do not see a sufficient growth potential in this area to support the operational turnaround in the short term.”

He continued: “From our point of view, continuing our poker offering was not expedient, especially in the light of the upcoming introduction of the new mybet platform.”

The new mybet platform, which it was revealed in May has been delayed until after Euro 2016, is expected to go live later this summer.