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Betfair leaves the Netherlands

Betfair leaves the Netherlands

Betfair, the administrator of the world's greatest online games wagering trade, has advised its advertising associates in the Netherlands that it will close down its activities in the country. The last date of operations has been set to September 30, 2021. This news could be an obstacle to all residents who want to use Betfair's excellent services, and this is where Account Exchange comes in. Through our services, they can open original Betfair accounts without restrictions and enjoy their full privileges!

The statement received by Betfair Dutch clients mentions a “business decision”, without highlighting a specific explanation. However, the reason for shutting down both the famous exchange and the regular sports book, the online casino and the poker room, is likely related to the new gambling regulation, The Remote Gambling Act (KOA Act), enacted on April 1, 2021 and which will officially go into effect on October 1, the day after Betfair pulls out.

New gambling laws

As recently declared by the national authority Kansspelautoriteit (KSA), it expects to begin giving operator licenses on October 1, 2021, to mark the start of legal online gambling in the country. By this date, all existing operators in the country must have obtained a license or exit the market while their applications are processed. For companies to have the right to operate, they should have submitted the respective applications and a description of their gaming system before April 15, 2021. Furthermore. all online gambling license candidates must have their gaming systems assessment and connection, linked to the CRUKS self-exclusion registry by July 1, 2021.

Is this the end of Betfair in the Netherlands?

In March, the KSA issued a report related to the progress of all preparations for the official launch of legal online gambling in the country, noting that it had received 40 applications from national and international operators, expecting to grant 35 licenses in 2021.

According to some reports, Betfair’s owner Flutter Entertainment, is expected to seek licensing for PokerStars and focus its Dutch customer base on this single brand. So it would not be the end of Betfair but a transformation of its activities.

The regulating body also stated that it would strongly evaluate candidates in terms of corporate ethics and social responsibility, seeking to meet the KOA Act's goal of safer betting practices and consumer protection. All candidates will also have to appoint a legal representative of the company in the Netherlands as part of the new rules.