888’s BetBright Shuts Down, Voids Bets Ahead Of Cheltenham

Online betting operator BetBright announced its closure just a day after 888 bought it for £15 million, UK Gambling Commission making inquiries

Dublin-headquartered online gambling operator BetBright closed shop for good just a day after it became known that it was purchased by rival 888 Holdings and a week ahead of this year’s Cheltenham Festival.

In a message posted on its official website on Tuesday, BetBright said that it “has ceased offering gambling services to its customers on a permanent basis.” The online betting operator also informed its customers that they would be able to access their accounts for a period of 30 days and advised them to withdraw all their funds from their accounts.

BetBright posted a link to an FAQ section from which it is understood that “all single bets due to settle after the 5th of March at 23:59 pm will be voided” and that unsettled multiple bets “that are due to be settled past 5th March 2019 that have winning legs associated to the bet will be settled as a winning bet, with the remaining unsettled legs voided.” BetBright explained that bets due by March 5, 2019 at 23:59 pm would be handled as normal.

If a customer had an active free bet or bonus on their account after BetBright shut business, the amount has been added to their account as a cash and is withdrawable, the company further noted in the FAQ section.

Cheltenham Bets Voided

BetBright’s closure and its decision to void unsettled bets affects wagers placed on next week’s Cheltenham Festival. This year, Britain’s biggest horse racing event is set to take place on March 12-15. And it should be noted that the festival is the dominant event in the minds of all those who fancy a punt on horses.

Bets made on the winner of the Premier League or the UEFA Champions League, among others, were too affected by BetBright’s decision to shut down its operation.

As mentioned above, Gibraltar-headquartered online gambling group 888 Holdings announced Monday that it has purchased its smaller rival for £15 million. 888 said that it was lured by BetBright’s proprietary sports betting platform as the major online gambling operator is looking to expand across that vertical in a number of new markets, including the recently liberalized sports gambling market of the United States.

It became known after BetBright’s closure that the deal involved 888 buying the technology powering the online betting operation, while its customer base and outstanding liabilities on bets were left to BetBright itself to deal with.

The UK Gambling Commission said Tuesday that it has received a number of complaints regarding BetBright’s decision to void bets and is “making further inquiries.”

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