UKGC Is Content with BetBright’s Decision to Void All Bets After Being Acquired by 888
BetBright was recently acquired by 888, and soon after, they announced that they will void all bets and ante-post bets. The word spread quickly, and angry bettors started complaining and threating to sue BetBright over their potential payouts and the money they’ve lost with their voided bets. After investigating the case, the UK Gambling Commission saluted the way BetBright handled the situation.
BetBright’s Reasons to Void All Bets
A former BetBright player whose ante-post bets could have brought him nearly £30k and were voided threatened to sue BetBright’s former operator Dedsert (Ireland) Ltd, seeking compensation for any possible losses.
BetBright ceased all operations after selling all of its tech assets to 888 for £15 million. With this unusual deal, as BetBright’s former Executive Chairman Rich Ricci described it, BetBright announced that all ante-post bets were from that moment voided.
Soon after, the UK Gambling Commission examined the situation, and since being told by BetBright that that was inevitable due to the possibility of insolvent liquidation, the regulator deemed BetBright decision as a proper one and said it was content with the outcome.
However, the bettor who threatened to sue the bookmaker, said that this was a cop-out, pointing out that if BetBright wanted to, they could have covered any liabilities with the £15 million they got with the deal. As for the insolvent liquidation, the bettor said that they could have prevented it while making sure that their players were treated fairly.
Criticizing Rich Ricci and his board of directors, the bettor said that they have clearly made a bad investment that the £15 million could obviously not cover for, but that was their bad mistake and players should not suffer for it. He suggested that they should have offered their players all ante-post bets at their withdrawal value. Bettors could, in that way, re-invest their bets elsewhere in the market and still win.
888sport Decided to Honour Some Ante-Post Bets
888sport, on the other hand, offered to honour BetBright players’ ante-post bets but only on horseracing. They confirmed this, saying that they will honour the ante-post bets for Cheltenham Festival bets placed at BetBright.
888 said that those bettors who have winning bets should contact 888sport by email or phone and they will honour them on the original terms.
Former BetBright players should successfully register a new account at 888sport no later than 31/03/2019, and those of them who have any open 2019 Cheltenham Festival ante-post bets will be eligible for funds. Their BetBright account details in addition to all details pertaining to the ante-post bet will need to be verified to ascertain eligibility. All of the punters’ winnings will be credited as cash on their account instantly following verification, which may take up to 72 hours.