SBObet will no longer be part of UK gambling market

New Gambling law is going to be effective on October 1, 2014 - SBObet decides to leave the UK market.

A known bookmaker SBObet is leaving British gambling market. Because of that the bookmakers will start to close users’ accounts starting on September 15, 2014. Former players have time until September 30, 2014 to withdraw all their funds. The bookie has written an e-mail to its UK players to inform that his decision is caused by the legislative changes in the Great Britain. Thereupon the bookmaker does not own a licence of British Gaming Commission it cannot offer its services to the players from UK, moreover he cannot advertise himself on the country’s territory.

UK players who do not withdraw their money by September 30, 2014 will have their funds sent to the payment option which they have selected most recently. All outstanding wagers will be honored.

New UK Gambling law

Starting on October 1, 2014 all online bookmakers who reach for UK clients have to be licensed by the UK Gambling Commission. The UK’s Government introduces the Gambling (Licensing and Advertising) Act of 2014 - the “GLA” and amends existing The Gambling law from 2005. Under GLA all bookmakers who want to offer any gambling service to UK residents must hold a license. To obtain it a company needs to pay an application fee and annual fee payable to UK Gambling Commission as well. The fee depends on the size and type of business. Moreover, as of December 1, 2014 gambling operators will have to pay 15% tax from the profits placed via Internet by UK citizens. Operators who want to apply for the license must do so prior to September 15, 2014.