888 Holdings acquired BetBright on Monday 4th March for a fee of £15 million only to close the Irish bookmaker the following day.
On Tuesday, the homepage of BetBrights website was updated with the following message:
"As of Tuesday 5th March 2019, Dedsert (Ireland) Limited, trading as BetBright has ceased offering gambling services to its customers on a permanent basis.
Customers will be able to access their accounts for a period of 30 days, in which we advise customers to withdraw the full balance from their account"
Prior to the acquisition, 888 already owned the casino, poker and bingo departments of the BetBright website with the purchase of the sportsbook completing the set.
It is understood that 888 will be using the sportsbook platform to improve its own 888sport section.
It has been reported that around £60 million had been invested into BetBright and given the sale price of just £15 mllion, signs point towards a costly business failure.
Although there were no evident signs of the Irish Bookmaker struggling, it's possible that UK & Ireland tax rises along with marketing costs which may have not provided a sufficient enough return could be to blame.
BetBright offers featured heavily on matched betting sites until 2019 when the number of promotions seemed to die off. At one point the bookmaker offered various horse racing promos such as 'Money back if 2nd', Extra Places and 'Cashback on losses' for various sports.
If you have funds in your BetBright account, it is advised that you withdraw them as soon as possible. 30 days from 5th March is 4th April which will be the deadline for customers to access their accounts.
Any bets which have been placed and due to settle after 5th March will be voided with stakes returned. Any multiples which have winning legs settled prior to the end of 5th March will be settled as winners with legs settling after 5th March voided.