The operator said this is a commercial decision made in a very competitive market and that Annatar Limited, the parent company of 188Bet, is solvent and ready to meet financial obligations.
A spokesperson for the Gambling Commission told Gambling Insider: “We are making enquires with 188Bet into this matter but we do not talk about ongoing cases. We advise all customers who are affected to carefully read the operator’s website.”
188Bet has listed FAQs on its website for players, with information relating to funds and balance on accounts.
The operator says players have until 23:49 (GMT) on 30 August to log in and withdraw any outstanding amounts.
The Isle of Man-based company will honour pending bets for all events occurring up to 23:59 on 30 June.
Single bets for events after 30 June will be voided and the stake will be returned within 48 hours.
Multiple bets with selections for events up to 23:59 on 30 June will be settled as normal. Wagers with winning multiple selections as of 23:59 on 30 June, with remaining unsettled specifications for events after 23:59 on 30 June, will see those specifications voided and the bet settled within 48 hours.
The operator was previously in the headlines for offering live betting on academy games, with some players as young as 14.
It was alleged this was made available to satisfy the company’s large client base in Asia.
188Bet was the official gambling partner of English football's Chelsea and Aston Villa, as well as the shirt sponsor of Bolton Wanderers and Wigan Athletic.
