MyBet Warns of Long Wait for Player Payments

This story was published more than 2 years ago.

A few weeks ago we reported that German online betting group MyBet filed for insolvency due to financial issues. This week the company revealed that they've shut down their casino and are warning of long timetables to get money paid out.

The company shut down their casino and sportsbook, pausing them until further notice. All pending wagers have been cancelled, and the company claims that credits to accounts would be given. The group said that they can assure that player funds are protected, but that withdrawals would be experiencing significant delays.

MyBet has been experiencing significant financial struggles lately. The company's stock price has plunged to just €0.03, from €1.66 in June. The company filed for insolvency after it was hit by a large €4 million back tax bill from the German government that they were unable to cover.

Players who hold accounts with MyBet are urged to pull money out as quickly as possible, as they may not be able to pay funds out at a later date.

We'll keep players informed as we learn more about the situation.

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About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.
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krcoolsongss
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10 September 2018 - 9:44am
#1

Oh, as I know, MyBet is pretty an old and good casino which is trusted for payment.
I hope that players could get their funds safely in the end.

lvblck
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10 September 2018 - 1:16pm
#2

Yeah they used to be a good and reliable site but with so many new brands coming up, it's a tough competition. I hope that players will get their money and will be careful enough to not deposit there.

bgsharpe
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11 September 2018 - 7:13pm
#3

That's very unpleasant situation for the punters expecting their payouts to be proceeded, hopefully from MyBet will keep their promises and will pay everybody, even after some delay.