Particular areas of concern that led to the suspension being upheld were alleged failings in social responsibility and inadequate anti-money laundering procedures.
At the time, a Bet-at-home statement detailed that it had disabled new customer registration, along with betting and deposit facilities. However, existing customers were still able to access accounts and withdraw funds.
In a subsequent statement published on the Bet-at-home website, the company confirmed that it will not contest the suspension decision and shall withdraw from the UK market.
The company said: “Dear players, unfortunately, we’ve decided to surrender our operating license granted by the UK Gambling Commission and to exit the British market.
"You are no longer able to register, bet, play or deposit with us at the moment. You will be able to log in to your account, and until 30/09/2022 (10:00 UK Time) you can request withdrawal of any remaining balance via email.”
In May 2022, Bet-at-home reported a revenue drop of over 50% for Q1 2022, recording €14m ($15m) in gross betting and gaming revenue, down from last year’s total of €30m. The company’s consolidated profit for Q1 2021 stood at €4.4m, falling to a loss of €2.7m as of 31 March 2022.
These poor results were attributed in part to regulatory difficulties in both Germany and the Netherlands.