New UK Legislation

[gherkin]

In the space of 24 hours I received these emails from 2 of the biggest Asian bookies online...

"Dear Valued Member,

Good day!

Due to a business decision, we wish to inform you that effective on 30th September 2014, 12BET.com Sports book products will no longer be available to members who had signed up from United Kingdom (UK).

However, you may continue to enjoy 12BET Casino games as normal and avail yourself to existing CASINO bonus promotions on the website."

and...

"SBOBET to Discontinue Betting Services for Your Account from 15 September 2014

Dear DAVID,

It is with regret that we wish to advise you that we are no longer able to continue to offer you the betting services with SBOBET.

This unfortunate circumstance has been brought about by the changes to the legislation in your country of residence with regard to online gambling. Unfortunately, it will now be necessary to close your SBOBET Account with effect from 15 September 2014.

However, all outstanding bets you have already placed for events scheduled after 15 September 2014 will not be affected and will be settled once they have been determined. In this event, your Account will remain available for login after 15 September 2014, solely for the purposes of withdrawal of funds but no further betting can be carried out.

If you have any funds remaining in your SBOBET Account, the Account will remain accessible to you for the purposes of withdrawing funds. Kindly sign in, check your balance and make your withdrawal request immediately.

For Accounts with no outstanding bets, if we do not receive a withdrawal request by 30 September 2014, it will be necessary for us to close your SBOBET Account and arrange for the remaining funds to be returned to you via your current nominated payment option.

We wish to take this opportunity to thank you for your fantastic support in the past and would be more than pleased to be of service to you again in the event that there is a change in the regulatory landscape of your country of residence.

In the meantime, if you have any questions, please contact us at support@sbobet.com. Alternatively, you can contact SBOBET Support Team by phone at Europe: +44 1624 721960 and by fax at Europe: +44 1624 721966.


Yours sincerely
SBOBET Support Team"



Since these are 2 of around only 5 bookies that will actually lay a bet then this is pretty bad news.  Any idea what the new legislation is? - is it the 15% tax the government were planning on introducing?  If Pinnacle and 5Dimes follow then I'm well and truly f*cked.

[tikay]

Hi gherkin,

No, it's the introduction by the Gaming Commissioin of new Licences. An Online Gaming Site will NOT be able to operate in the UK without one of these, & they are VERY hard to get, a lot of boxes need to be ticked. In some caes, it is effectively impossible for an overseas site to get a UK Licence, so they simply have to cease trading here, there is no way round it.

http://www.gamblingcommission.gov.uk/

[tikay]

I've no idea what Pinnacle plan to do - redarmi may have a line on that.

[gherkin]

Thanks for the info - not good news at all.  Asian brokers FTW!

[DungBeetle]

The irony that the bookies who will actually lay a bet are the ones who are refused licences, whereas the FOBT cowards are allowed to carry on with no problem.

[arbboy]

The irony that the bookies who will actually lay a bet are the ones who are refused licences, whereas the FOBT cowards are allowed to carry on with no problem.

Secondly it's partly done to 'protect' customers from losing their deposits from mickey mouse outfits who go busto yet the firms in question are probably in the top 5 in the world to ever knock a customer!

[DMorgan]

It is looking likely to only be the high street bookies left?

[redarmi]

I've no idea what Pinnacle plan to do - redarmi may have a line on that.

I don't know what Pinny plan to do although I could probably find out but think they will probably just ignore it and i am certain 5 Dimes will for the poster that was worried about them given they still take US bets.  Be interesting to see if this means that SBO and IBC decide to stop takng bets from Bloom etc.  Somehow I doubt it.

[tikay]

I've no idea what Pinnacle plan to do - redarmi may have a line on that.

I don't know what Pinny plan to do although I could probably find out but think they will probably just ignore it and i am certain 5 Dimes will for the poster that was worried about them given they still take US bets.  Be interesting to see if this means that SBO and IBC decide to stop takng bets from Bloom etc.  Somehow I doubt it.

How would they "ignore it" Stu?

Not doubting you, not at all, but surely Payment Processing is the key, & the GC have made that clear, I believe. Without legit Payment Processing, it gets very awkward. Doubt they want to get involved in "flower shops" & all that nonsense, they are too classy for that I'd imagine.

[doubleup]

There is a voluntary agreement to block visa mastercard payments to non-licensed sites.  I would imagine that banks will shut down accounts sending money to illegal sites if they are alerted to it.  E-wallets are all regulated to some extent, so they will be pressured to stop any transfers.

Any money going to an illegal site also runs the risk of getting caught up in money laundering/ PoC stuff.    

The big stumbling block is that the UKGC will not license anyone who operates in illegal markets and probably won't license anyone with a large exposure to grey markets.  So Stars, for example, have a big problem with their Russian market.  Anyone taking US bets has no chance of a license.

[tikay]

There is a voluntary agreement to block visa mastercard payments to non-licensed sites.  I would imagine that banks will shut down accounts sending money to illegal sites if they are alerted to it.  E-wallets are all regulated to some extent, so they will be pressured to stop any transfers.

Any money going to an illegal site also runs the risk of getting caught up in money laundering/ PoC stuff.   

The big stumbling block is that the UKGC will not license anyone who operates in illegal markets and probably won't license anyone with a large exposure to grey markets.  So Stars, for example, have a big problem with their Russian market.  Anyone taking US bets has no chance of a license.

Was hoping you'd arrive Mr 2xUp, I know you have a handle on this.

And you are right about the 'Stars headache, & I can't see any way round it if they want to operate here, it'll be goodbye Russia I suppose. Lots of Gaming Sites have a huge headache incoming, I don't think many peope have realised the enormity of the whole thing. 

There'll be some pain for some well known brands shortly, for sure.

[tikay]

Just spotted this via google.....


Asia-focused firms SBOBet, 12Bet and Mansion close parts of their UK-facing businesses ahead of UK licensing changes

[edgascoigne]

Anyone that wants reasonable sized bets (say a few hundred and up) and won't be absolutely taking the p1ss with the business (and, I believe for now, no racing) let me know and I will get a chap to be in touch who should hopefully be of some use.

[arbboy]

Just spotted this via google.....


Asia-focused firms SBOBet, 12Bet and Mansion close parts of their UK-facing businesses ahead of UK licensing changes

I got email from Mansion the other day stating the above.

[gherkin]

Pinnacle closing to UK residents at the end of the month too