Bethard Group has confirmed that from next month it will cease to operate in the UK online gambling market.
The Malta-based gambling operator informed its UK customers that its flagship Bethard brand would no longer be accepting wagers or transactions from July 6.
Bethard confirmed to SBC that its UK exit follows a strategic review undertaken during lockdown in which management have chosen to focus on ‘profitable markets’.
UK customers have been given until August 10 to withdraw funds and clear their player accounts, as Bethard closes its UK presence in line with UKGC licensing procedures.
The operator secured its UKGC licence in 2018 as part of the firm’s multi-market expansion targeting growth in the UK, Denmark and Ireland, having established its presence as a challenger sportsbook in its home market of Sweden.
In the exit statement, Bethard management has chosen not to disclose any specific reasons for its decision to depart the UK online gambling scene, simply underlining that it has reviewed all marketplace options.
UK online gambling tax, regulatory and compliance changes undertaken during the course of 2019-to-2020 have seen a number of licensed operators depart the market, including 188BET, Betclic Everest, ComeOn and Royal Panda.
Bethard management confirmed that the operator will maintain its presence across all other established markets, through licenses for Malta, Denmark, Ireland, Spain and Sweden.
Earlier this month, Bethard was handed a SEK400k penalty for accepting wagers on underage football.