SunBets.co.uk closes after Tabcorp withdraws from partnership

SunBets.co.uk closes after Tabcorp withdraws from partnership

SunBets.co.uk, a popular online sportsbook & casino, announced on Thursday morning that it will be closing down and not be accepting any new customers.

Australian operator, Tabcorp, signed a 10 year deal with Sunbets but has reportedly opted to pay a £40m exit fee to get out of the contract early. 

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Tabcorp have seen their balance sheet take a hit over the past couple of years due to Sun Bets reporting big losses. A loss of £12.6m was reported in the 2017 financial year compared to a profit of £103m in the year previous.

On 20th February, 2017, Sun Bets were caught up in a betting scandal when they offered punters odds of 8/1 that a Sutton reserve goalkeeper would eat an entire pie during the match. When this event took place during the game and was caught on camera by TV crew, it sparked debate as to whether there was any betting manipulation occurring. Despite initially denying any knowledge of the betting market, the Sutton goalkeeper later admitted he was aware of it and was fined £375 and suspended for two months. 

Tabcorp, the operator of Sun Bets, were punished a little heavier by the UK Gambling Commission and were reportedly fined £84,000 for regulatory violations.

The company was also given a telling off, again by the Gambling Commission, when they offered odds on a a streaker to make an appearance in a match which was classed as an inducement to commit a civil offense.

Sun Bets have been a popular bookmaker for matched bettors as they have provided some good promotions and offers. The closure of SunBets.co.uk also means that Sun Vegas, Sun Casino and Sun Live Casino will stop accepting new customers as of today.

Customers of Sun Bets have been notified and advised to withdraw any funds they have in their SunBets account. If funds are not withdrawn by 2nd August 2018, SunBets will make proactive attempts to return any balances via the card you have registered to your account. If SunBets are unable to do so, they will make attempts to contact individual customers directly until 17th September 2018. If SunBets are unable to contact members who still have funds in their account after this date, any remaining funds will be donated to GamCare.

Customers who have unused free bets in their account will be credited with the value of the free bet as cash. Similarly, if you have free spins or golden chips, they will be credited as cash.

Any unsettled (pending or in play) bets will either be credited as a winner or have the stake refunded and be paid out in cash over the coming days: please check your account to learn the status of these bets and withdraw any winnings as soon as possible.



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