Why are Pinnacle Sports, SBOBet and 12bet closing their doors to UK punters? It is nothing to do with Scottish independence but the UK Gambling Commission. All offshore bookmakers who except wagers from UK punters must apply for a UK gambling license. UK punters are having their accounts close, and must be thinking how can I still bet with Pinnacle Sports, SBObet and 12bet and other Asian bookies?
The Gambling Act 2005 has been amended to mean that all bookmaker taking bets from UK punters must by a 15% tax. Bookmakers have just decided that it’s not worth the cost of doing business in the UK.
Pinnacle Sports have an application pending for a UK gambling license. Their UK operations are too big. Obviously it won’t be approved in time otherwise they wouldn’t be closing accounts now.
Are there any benefits of UK Gambling commission licensing of offshore bookmakers?
A license should bring more consumer protection for punters. However, those of our readers who remember the Bet Butler story will know that these protections can not be relied upon. Bet Butler was a broker who allowed punters to channel bets to bookmakers. This helped people to avoid account closures and bet being voided by bookmakers. A sound concept was ruined by poor management especially by those at the top. Punters who lost money where not protected by the Gambling Commission. One of our partners, Smart Betting Club, where advising their members to withdraw their money from Bet Butler accounts early 2013.
How can UK punters still access the best offshore bookmaker account?
Bet brokerage companies that specialise in providing access to the massive Asian bookmaker network (including Pinnacle & SBOBet). A number of these are well run and established firms keen to recruit UK punters. Smart Betting Club are advising members who the best brokers are now.