Ladbrokes exits Switzerland, Norway and Hungary

Ladbrokes exits Switzerland, Norway and Hungary

Friday, October 10, 2014

Ladbrokes has withdrawn its services from Switzerland, Norway and Hungary in order to carry out legal and regulatory reviews of online gaming frameworks in Europe.

The UK bookmaker said that customers would be able to access their accounts in order to withdraw any remaining funds they may have.

The move comes after the bookmaker last month also announced its exit from the Canadian market due to concerns over a clampdown on iGaming regulations in the North American country.

All of the withdrawals have taken place shortly before the introduction of new licensing conditions in the UK.

These regulations state that operators wishing to take bets from customers located in the UK must obtain a new licence from the Gambling Commission. In addition, operators must disclose financial information with regards to international markets that generate more than three per cent of their total revenue.

The new scheme was initially scheduled to be introduced on October 1 but a legal challenge from the Gibraltar Betting and Gaming Association (GBGA) caused the UK Department for Culture, Media and Sport to delay this launch.

However, the High Court today (Friday) rejected the GBGA’s appeal and the new Gambling (Licensing and Advertising) Act will come into effect on November 1.

Ladbrokes is yet to respond to a request by TotallyGaming.com to explain its withdrawal from the European markets.

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