BetBull to Close in July

Not every mobile sportsbook is enjoying success. BetBull have announced that they will be closing their betting site on Sunday 3 July 2022.

The full details of why the closure is taking place has not been revealed by the BetBull management team. A brief website statement said that the company had made the “difficult decision” to close the sportsbook on 3 July.

The message was then shared across all of their social media channels. Only those that included ‘BetBull’ in their post were able to reply to the message. Without anyone being tagged that meant no one could do so.

No more customer registrations will take place from June 24. Procedures have been laid out on their site as to how withdrawals and closing of accounts can be achieved.

The BetBull sportsbook was launched seven years ago and funded by Sadok Kohen. The idea of the iGaming entrepreneur was to create a mobile-first sportsbook that would gain a good share of the competitive UK and European gambling market.

They were granted a UK Gambling Commission licence and had a London HQ. They also had support from a tech and engineering hub based in Ukraine. Whether the ongoing war has anything to do with the closure hasn’t been revealed.

As with many betting companies, BetBull had been busy trying to take advantage of the expanding US gambling industry. They had formed a partnership with Wynn Resorts soon after the US Supreme Court judge ruling in 2018. That had led to individual US states being allowed to decide if they wanted to legalise gambling.

This partnership led to the creation of the Wynn Interactive division and Mr Kohen was its President and CEO. By the end of 2020, Wynn Resorts had a 71% shareholding in BetBull. The past year has seen Wynn Resorts considering selling off their sports betting and digital arm. Wynn Interactive hasn’t been the big hit they had hoped for and only has a small percentage share or the US market.

The past 12 months has seen BetBull busy advertising their product in the UK. Former Manchester United and French international footballer Eric Cantona had been part of that campaign.

A large amount of emphasis had been placed by BetBull on the social side of betting. Their Twitter hashtag had been #NeverBetAlone. Other sites now also concentrate on that aspect of betting and it seems BetBull haven’t been as successful as they had wished.