188BET is the latest operator to leave the scene after it announced on Tuesday morning that it will cease to offer gambling services to customers in Great Britain, Northern Ireland, the Channel Islands and Gibraltar.
The gambling operator, who's main target market is in Asia, posted a 'closure announcement' on their website which is visible to all effected territories.
The closure announcement states the reason for leaving the UK & Ireland markets 'is a commercial decision in a very competitive marketplace.'
188BET will continue to operate in other territories but has withdrawn from those mentioned as of today.
Last month, Irish bookmaker BetBright closed down completely shortly after being acquired by 888 Holdings which emphasizes the competitive nature of the UK market in which the brands reportedly had less than just a 3% market share in.
188BET occasionally ran promotions which could be found on matched betting sites such as MatchedBets, OddsMonkey and Profit Squad. Their offers mainly revolved around horse racing refunds but they also offered some attractive casino promotions on a regular basis.
actions for 188bet customers
Existing Funds
If you have funds in your 188BET account, you have until 30th August 2019 to withdraw them. 188BET have made it clear that they remain solvent and your funds are segregated and will remain safe. However, you must withdraw them before the cut-off date otherwise they will be forfeited and donated to responsible gambling charities.
Outstanding Bets
If you have outstanding bets on events which take place on or before 30th June 2019, they will be settled as normal. Any outstanding bets on events which take place after this date will be voided with the stakes being returned within 48 hours.
If you have outstanding multiple bets, providing all selections settle prior to 30th June 2019, they will be settled as normal. Any selections on events which take place after this date will be voided and your multiple will settle with the selections on events which take place prior to this date.