Online sportsbetting group Marathonbet revealed today that they're temporarily pulling out of the UK market, citing what it calls "ongoing events in Europe" as its reasoning.
Marathonbet has said that the suspension will take place beginning April 14th, and does not have an end date. The company issued an email to players in the UK, in which it said: "We regret to inform you that we have taken the decision to temporarily suspend our Marathonbet.co.uk website."
"As the Marathonbet brand is operated globally, recent and ongoing events in Europe have had a significant impact for us."
The operator has said that players should withdraw funds from their accounts, a worrying sign for a company that's considering a suspension of operations to just be temporary.
Marathonbet is noticeably allowed to offer services in Russia, one of the few companies allowed to operate in the country. It's been in the country since 1997. UK operations began with the company's brand Panbet in 2015, and the group has had shirt sponsorships with Manchester City FC.
We're following this story and will update readers as we learn more.
I was wondering when we'd start seeing something like this. Anyone here have an account with them should definitely get their cheddar out.
To be fair I always thought they were in strange markets - Russia and Spain, it always seemed like a weird combination. But yes Russia was a big one for them, so it doesn't look too optimistic. Besides, an operator saying players should withdraw funds makes me think they could be potentially closing?
It all leads me to seeing the company maybe seeing assets frozen if people in Russia are somehow trying to launder money through the system due to the sanctions that are being imposed there. I hope that's not the case, but anything is on the table these days.
I wouldn't be too surprised if that really ended up being the case. But I'm quite sure this temporarily suspension will end up being a permanent one. I guess we'll have to see how this unfolds.