The controversial cancelling of antepost bets by BetBright when the Irish based operator closed down earlier this month is to be rectified after the stepping in of Gibraltar-based bookmaker BetVictor.
Acting in a ‘personal capacity’, former BetBright Executive Chairman Rich Ricci has partnered with BetVictor to announce a plan which will enable former BetBright customers to have their Ante Post bets reinstated.
Former BetBright customers that had Ante Post bets (excluding Cheltenham Festival) voided when BetBright ceased offering gambling services on 5th March 2019, may now choose to have their bets reinstated with BetVictor by 4 April. To do so, customers will be required to have a valid account with BetVictor.
Commenting on the partnership, Rich Ricci said: “I am pleased that with the help of BetVictor, Ante Post bets placed by BetBright customers can be honoured.”
Director of Sportsbook at BetVictor, Matt Scarrott said: “We’re happy to be supporting Rich to address this situation, enabling former BetBright punters to reinstate their Ante Post bets via our BetVictor betting platform – we’ll make the process as simple and frictionless as possible to provide customers with an enjoyable betting experience with us.”
The cancelling of antepost bets proved hugely controversial after BetBright shuttered its operations the same week that it sold its technology stack to 888 for £15m. While 888 eventually agreed to honour Cheltenham antepost bets, given the festival was imminent, the antepost bets on other sports were unceremoniously cancelled as BetBright would no longer be licensed. The issue was further inflamed by the Gambling Commission seemingly rubber stamping the move. It also emboldened 188bet to take a similar if less harsh approach to its antepost book when closing its UK & Ireland operations earlier this week.
The fact that BetVictor has been able to come to the rescue, and presumably pick up some active customers and goodwill into the deal, has got the UK Gambling Commission off the hook a little, but it appears that the regulator needs to have a think about its position on this in the near future.
Its a horrible precedent, and the UKGC endorsing it shows a complete lack of understanding of gambling and their legal obligations as the regulator.
Only viable options.
1) hold bets till expiry
2) close them at natural cash out value
— Bernard Marantelli (@BernardColossus) March 26, 2019