UK online casino Dafabet switches off

Renowned UK facing online casino Dafabet is officially going offline.

Dafabet is a subsidiary of the Asian BGE gambling firm and has a United Kingdom Gambling Commission license to provide its services.

It has come under tremendous pressure because of regulatory concerns focused on online gambling.

The closure impacts the online casino operations of the company and not its betting activity.

The users of Dafabet are not able to make deposits and they have to withdraw their funds on before March 20.

There will be attempts made to return the outstanding balances with the help of an account transfer.

The UKGC along with advertising standards authority ASA and the competition and markets authority CMA have found out a pattern of violations among licensees. This led UKGC to start a complete investigation that has lead to high-priced fines.

There has been many violations which include bad anti-money laundering controls and more breaches of advertising regulations.

The CMA has started to issue warnings and fines to firms that stop customers from making withdrawals as the customers need it. It showed some concerns over low withdrawal limits and cut off times for players to get their identity verified.

The UKGC and the CMA will be placing new emphasis on regulations to give oversight to the gambling community.

The new regulations are harsh and give penalties that are harsh. It is not illogical to believe that other gambling firms will make the decision to leave the UK market. Already many have closed down or scaled back affiliate programs in a bid to stay on top of regulative changes.

During its expansion from Asia into Europe, Asian BGE went on a sponsorship purchasing spree and selected sports team sponsorships in the European Union, including a sponsorship deal with the Premier League’s Burnley F.C that had a $3.4 million price tag.