SBOBet closing accounts?

[Hareeba!]

Edit by SBR Admin: SBOBet is leaving the UK market ahead of the new Gambling Law.

I'm hearing reports that accounts of some UK players are being closed.

Anyone know what's going on there?

[superhans]

Yeah, got an email this morning. Closed as of 30/09/14

Looks like its down to the new tax here.

[Optional]

UK based 12bet customers have been getting the same email.

SBR are looking into it.

[JayZ]

It almost certainly will be down to the Gambling (Licensing and Advertising) Act, which takes effect on 1 October, with the deadline for those transferring in from other jurisdictions to be 16 September. Irrespective of the tax considerations, international companies with low UK business may conclude it isn't worth the additional regulatory burden.

[Hareeba!]

It almost certainly will be down to the Gambling (Licensing and Advertising) Act, which takes effect on 1 October, with the deadline for those transferring in from other jurisdictions to be 16 September. Irrespective of the tax considerations, international companies with low UK business may conclude it isn't worth the additional regulatory burden.

I'd have thought, with the popularity of soccer in the UK, that SBO would have had quite a significant amount of business there?
Or are Asian handicaps a bit too complicated for the Poms?

[superhans]

Or are Asian handicaps a bit too complicated for the Poms?

Betting AH is the quickest way to getting limited with Laddies, Will Hill, bet365 so many people don't bother. SBO and the other Asians do very little advertising here... only people that use them are those who are banned/limited everywhere else or arbers dutching the AH

[jjgold]

Yes UK accounts closing

It is with regret that we wish to advise you that we are no longer able to continue to offer you the betting services with SBOBET.
This unfortunate circumstance has been brought about by the changes to the legislation in your country of residence with regard to online gambling. Unfortunately, it will now be necessary to close your SBOBET Account with effect from 15 September 2014.
However, all outstanding bets you have already placed for events scheduled after 15 September 2014 will not be affected and will be settled once they have been determined. In this event, your Account will remain available for login after 15 September 2014, solely for the purposes of withdrawal of funds but no further betting can be carried out.
If you have any funds remaining in your SBOBET Account, the Account will remain accessible to you for the purposes of withdrawing funds. Kindly sign in, check your balance and make your withdrawal request immediately.
For Accounts with no outstanding bets, if we do not receive a withdrawal request by 30 September 2014, it will be necessary for us to close your SBOBET Account and arrange for the remaining funds to be returned to you via your current nominated payment option.
We wish to take this opportunity to thank you for your fantastic support in the past and would be more than pleased to be of service to you again in the event that there is a change in the regulatory landscape of your country of residence.
In the meantime, if you have any questions, please contact us at support@sbobet.com. Alternatively, you can contact SBOBET Support Team by phone at Europe: +44 1624 721960 and by fax at Europe: +44 1624 721966.
Yours sincerely
SBOBET Support Team

[JayZ]

SBO and some of the others withdrawing from the UK market sponsor football teams so will have their names in front of the public. There has been suggestions that even this may be contrary to the Act.

Incidentally the UKGC has required basic separation of players' funds as a licencing condition for remote since 4 August which may also affect the decision of some operators.

[shaunovery]

New proposals for rules and sanctions to ensure that remote gambling operators with UK customers will pay UK gambling taxes from next year, no matter where in the world they are based, have been set out by the government.
The changes, which are due to come into force on December 1 2014, will mean that all remote gambling companies will be taxed on their gambling profits from UK customers.
Currently, remote gambling operators can, and do, avoid UK taxes by basing themselves offshore. The new rules will create a level playing field across the industry.
The new rules will be supported by tough enforcement measures, including the creation of new criminal offences. Failure to comply with them could result in prison sentences of up to seven years, unlimited fines, or the loss of a remote gambling operator’s licence to operate.
This follows last year’s announcement that the government would move to taxing gambling on a ‘place of consumption’, rather than on a ‘place of supply’ basis, so that all remote gambling by UK customers, generally carried out online or on the telephone, will be taxed in the UK.
The new rules and sanctions are the result of the subsequent consultation exploring how the change should be implemented.
The Gambling Commission estimates that the UK remote gambling market is worth over £2 billion per year. The new rules will bring in approximately £300 million per year in additional tax revenues.
Remote gambling operators with UK customers will be liable to pay either remote gaming duty, general betting duty or pool betting duty (depending on the type of gambling offered), all of which are currently at 15%.
Economic Secretary to the Treasury, Sajid Javid, said:
It is unacceptable that gambling companies can avoid UK taxes by moving offshore, and the government is taking decisive action to ensure this can no longer happen in the future.
These reforms will ensure that remote gambling operators who have UK customers make a fair contribution to the public finances
The consultation response is published Friday 16 August.

[Kelly_F]

As others have states it's due to the new legislation in the UK;

http://www.legislation.gov.uk/ukpga/2014/17/contents/enacted/data.htm

and the associated POC (point of consumption) tax

UK based 12bet customers have been getting the same email.

SBR are looking into it.

What SBR could do is approach Pinnacle and ask them to confirm their position on the UK market - a public statement would probably help ease the burden on their support email that will inevitably come once concerned UK bettors (cough - arbers) start to panic.

I'd have thought, with the popularity of soccer in the UK, that SBO would have had quite a significant amount of business there?
Or are Asian handicaps a bit too complicated for the Poms?

It's unlikely that they anything but a small percentage of the market share compared to the major UK names. They would have probably received a significant amount of volume from arbers in past years, but Pinnacle now seem to lead that market and it's likely that many soccer arbers predominantly use Pinnacle instead.

[Sawyer]

I'm sure broker agent/services are having a party now, lol.

[minet123]

I'm sure broker agent/services are having a party now, lol.

^^^^^^^^^^^^^^^^^
THIS

[zizoudane10]

Who gives a fukk. Happened here in Germany a while ago. Use asianconnect and thats it. Fukk the government, bunch oft idiots running around there.

[jjgold]

So Pinnacle has to pay taxes to UK??

[Hareeba!]

So Pinnacle has to pay taxes to UK??

If they chose to keep UK customers, yes.

But it looks like they will be dumping them!

[manchester]

Looks like pinnacle are going from the uk market twitter.com/progambler47/status/509648816120004608

[jjgold]

Pretty certain now Pinnacle has partnership with sbobet

One will eventually phase out

[minet123]

Pretty certain now Pinnacle has partnership with sbobet

One will eventually phase out

Gawd your an idiot

[jjgold]

The days are long gone that pinnacle has a sharp line

The volume is drying up and unless they have a massive credit based in the United States

[asdf21]

Brokerage service will make huge party

[jjgold]

I still don't know legit brokerage service

[neme999]

yes any good brokerage service ?

[Jonno116]

Can someone explain to me what brokerage services actully do?

[asdf21]

Can someone explain to me what brokerage services actully do?

They act as a man in the middle between you and the book. If you cannot open an account at a book directly due to local restrictions, or legal or other reasons, you can do it through a brokerage service. The book will not even know your name, nothing. All business is between you and the broker. He also acts as a payment processor, e.g. all deposits and payouts are between you and the broker. The broker in turn does advertising and acquires new players for the book, for which he earns a commission based on the player's turnover.

[JayZ]

It does slip through the Act as the broker is not the bookmaker. When the Act was put together there was always the anticipation that some players would swerve round it in the grey market. Bookies might themselves not want to seem to be operating against the Act in case it prejudices a future licence application in the UK - or even elsewhere.

[lecubs28]

I'm sure broker agent/services are having a party now, lol.

perhaps with a larger customer base they can avoid having to take shots at customers for six figures to make a profit

[asdf21]

perhaps with a larger customer base they can avoid having to take shots at customers for six figures to make a profit

That's terrible. Who did it?