BresBet and Bet St George Cease Operations Following UKGC Investigation
BresBet and Bet St George have opted to surrender their UKGC licences, following an investigation into anti-money laundering and social responsibility failures.
On September 4, emails were sent out to BresBet and Bet St George customers, confirming that the bookies have decided to cease operations altogether.
Just last week, we wrote about the UKGC's decision to suspend the licences of both bookmakers while carrying out an investigation. Suspected social responsibility and anti-money laundering failings were cited as the reasons by the regulatory body.
We warned in our article that the situation was 'more serious than usual', given the suspension, and that there would be no telling how long the investigation would take. While it didn't end up being a long one, we were certainly right about the seriousness remark.
BresBet and Bet St George Statements
While the websites still just say that the licences have been suspended, emails were sent out to existing customers on Friday, confirming that the bookies will indeed cease operations altogether.
BresBet: "A bit of news from us ...
"We're sorry to bring you some difficult news. Following the suspension of our licence by the Gambling Commission, we've had to make the tough decision to stop operating.
"Thank you for betting with us. It's genuinely meant a lot.
"Many thanks,
"The BresBet team," the email read.
Bet St George: "We're sorry to bring you some difficult news.
"Following the suspension of our licence by the Gambling Commission, we've had to make the tough decision to stop operating.
"Many thanks,
"The Bet St George Team," the email read.
Questionable Outcome
There isn't a whole lot of information available on the contents of the investigation, so it's possible that this outcome was justified, but questions have been raised by punters on social media. Have they really been protected by BresBet and Bet St George shutting down?
Existing customers will be able to withdraw their balances, of course, but many had placed ante-post bets with the bookies that will now be considered void. Again, we will have to wait and see what the investigation actually found, but that doesn't sound like protecting the punters to us.
The fact that it all happened so quickly as well, with no sort of heads-up, didn't make it easier for punters to protect themselves.
Isak is an experienced content writer with a background in sports journalism. Having focused mainly on football in the past, he certainly knows a thing or two about the betting industry and what makes a good bookie. At BettingLounge, he makes sure that the content is up-to-date and presented in the best way possible.