Novibet has surrendered its UK licence with immediate effect, after the betting and gaming firm officially informed customers that it would no longer be operational within the region.
The Greek betting group entered the jurisdiction with licenses for real event betting and igaming, which includes poker, roulette, blackjack and other casino games, on November 1, 2014.
Subsequently, a remote gambling software licence and virtual event betting permits were added 2015 and 2017, respectively, before the ability to provide bingo games to customers via a website, apps, mobile, interactive TV or radio, was gained last year.
In an update posted on the Novibet website, the online casino and sports betting operator notified: “We would like to inform you that Novibet will not continue to operate in the UK from 21.02.2022. If you already have funds in your game account, please kindly withdraw them.
“For any questions or clarifications please contact our customer support team or check our FAQ page here. Thank you in advance for your cooperation.”
UK Gambling Commission guidance for leaving the market stipulates that business “should be fair and open,” with it anticipated that firm’s will “have plans in place, and to take all necessary steps, to make sure that consumers are not unnecessarily disadvantaged if they close”.
Upon such a decision being reached, the regulator expects gambling entities to provide clear information to customers, with communication having to be made available by all means, including direct contact with consumers, notices on the outside of premises (where applicable) and wider messages on social media.
Furthermore, it adds that customers with a complaint must be given information on the means of who to contact and that access to an alternative dispute resolution service is maintained, with attempts to meet all its liabilities, wherever possible, including honouring bets due to be settled after closure, also having to be undertaken.