LadbrokesUK’s online betting giant, Ladbrokes continues to exit from grey markets and it has been confirmed that it plans to withdraw its gambling services from Hungary, Norway and Switzerland.

The firm has announced that it plans to withdraw its gambling services from a number of grey market jurisdictions and this move just came after withdrew its gambling services to Canada.

Sources say that there are more exists that are likely to come due to UK’s new online gambling regulations. For instance, the new UK regulations require for operators to legally justify their continued presence in any grey market from which they derive 3% or more of overall revenue.

The major reason regarding Ladbrokes withdrawal from the three grey markets was that Hungary had blacklisted Ladbrokes in July whilst Switzerland vowed to stop online operators that are not linked to their country’s casinos and Norway’s gaming regulator stated that all online operators not named Norsk Tipping are regarded as illegal operators.

In addition, Ladbrokes new software partner, Playtech also did a swift move by transferring its UK customers to the new Antigua-licensed so as to abide to the new UK Gambling regulations.

Categories: News

Posted on: 13th October 2014 by: Gary Beachley