MyBet Warns of Long Wait for Player Payments

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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3 replies • Last post


Jackpot ChaserJackpot Chaser
coolsongss's picture
Joined: 2 Dec 2014
Posts: 2355
Thanks given: 1669
Thanks received: 1169
10 September 2018 - 9:44am

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.

Jackpot ChaserJackpot Chaser
Location: The North
Joined: 6 Apr 2016
Posts: 2413
Thanks given: 119
Thanks received: 671
10 September 2018 - 1:16pm

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.

Forum Angel
sharpe's picture
Location: Sofia, Bulgaria
Joined: 4 Nov 2014
Posts: 6483
Thanks given: 3035
Thanks received: 910
11 September 2018 - 7:13pm

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.

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