In recent times, navigating the UK betting market has become increasingly challenging for many top betting sites. The UKGC has introduced several regulatory changes, earning a reputation as one of the world’s strictest gambling authorities. Combined with uncertainties surrounding Brexit negotiations, this has exerted considerable pressure on many online betting sites and casinos. As a result, several operators have begun to scale back their activities in the UK, with some even exiting the market entirely. Among these is the Swedish iGaming giant, Betsson, which has recently announced a significant shift in strategy. According to a statement from the company, eight of its nine brands will immediately cease operations in the UK.
The Last Brand Standing: Rizk Takes the Spotlight
Prior to this consolidation, Betsson maintained a complex brand strategy in the UK, featuring nine different brands across three platforms, all operating under four separate licenses. With the recent changes, the company has streamlined its presence to focus exclusively on one brand: Rizk. This brand was previously owned by Gaming Innovation Group (GiG) and was acquired by Betsson in early 2020 as part of a broader acquisition that included three other brands. The brands that have exited the UK market include Betsson, Betsafe, CasinoEuro, Guts, Jackpot247, Kaboo, Live Roulette, and RaceBets. These brands have now fully withdrawn from the UK, meaning they no longer accept deposits or bets from UK-based customers. However, Betsson has assured its customers that any outstanding bets will be settled as winning bets, providing some peace of mind for those affected.
Facing Challenges in the UK Gambling Market
While the UK market only accounted for a small portion of Betsson’s overall revenue, the increasingly stringent regulatory environment had become more burdensome than beneficial. The cost and effort required to comply with the UK’s tough standards made continued operations unsustainable for the company. By shifting its strategy, Betsson aims to improve operational efficiency and focus on expanding in markets with greater profitability potential.
Betsson’s involvement in the UK market dates back to 2017 when the company acquired NetPlay with ambitions to grow its UK footprint. However, the acquisition did not yield the anticipated results, and by 2018, the company began reducing its investment in the region. The recent decision to consolidate its UK operations under a single brand reflects a broader trend within the iGaming industry, as regulatory challenges continue to mount.
Given the current climate, it is likely that other European gaming companies may follow Betsson’s lead, opting to reduce their exposure to the UK market in favor of more favorable regions.
