Earlier this week Playtech owned betting firm PT Entertainment Services announced that it had launched TitanBet with Antiguan regulation: an interesting proposition as the offshore site services UK punters.
The opening of the site will see UK punters transitioned to the new site on September 8th, with funds being switched over automatically.
Industry insiders are speculating that the move is being done temporarily while the firm awaits a ruling on their approval of a UK secondary license. This will likely only last a few weeks, as an extended stay in Antigua will cost the operator more money to extend a continuation license.
An advisory by the website read:
"We are pleased to announce the launch of Titanbet, a site regulated by the Directorate of Offshore Gaming acting under the Financial Services Regulatory Commission of Antigua," the announcement advises.
"Titanbet will be operated by PT Entertainment Services Limited (PTE), which is a subsidiary of Playtech, a publicly traded company (PTEC:L) on the London Stock Exchange."
"As a resident of the United Kingdom, we will migrate your account(s) on September 8th, 2014 to Titanbet and your funds will be matched on the new account so that you can continue to enjoy all the familiar games, features, promotions, and benefits."
"All open bets and upcoming tournaments to which you have registered will migrate to your new account. In addition, you will also have a single account to use for Bingo, Casino, Games, Live Dealers, Poker, and Sports Betting."
"In the event that you do not want to migrate your current account, we advise that you contact support before the migration date in order to close your account and withdraw your available funds."