Dafabet Closes UK Casino Due to Regulatory Pressure
Dafabet has announced that they will soon be closing online gambling operations in the UK due to massive regulatory pressure. Dafabet Casino UK no longer accepts deposits at the online casino as of March 8, 2018 and will give players until the 20th of March to withdraw funds, otherwise they will be credited back to the depositing method.
Despite the online casino in the UK closing its doors, the sports wagering site will not be impacted by the closure and players can continue to bet on sports without any interruption to services.
Who is Dafabet and Why So Popular?
Currently, Dafabet is the most popular and largest brand for AsianBGE gambling. This wagering group is from the Philippines and originally licensed years ago by Cagayan Economic Zone Authority. The company gained global recognition when it spread quickly throughout Asia, then securing and even wider audience by expanding the brand to the European market. Over the years, this group has been responsible for sponsoring many of the UK's most popular football clubs.
Dafabet currently is sponsoring Premier League’s Burnley F.C. and signed a £2.5-million deal to sponsor the football club for the upcoming football season.
Understanding Why Dafabet Closed Its Doors
As of yet, Dafabet has not been too forthcoming with the reasoning behind the closure of the UK site, but speculations in the industry are pointing towards the upcoming changes within that country's gambling space for online casinos. Once the UK Gambling Commission discovered the company was in violation on a number of their licenses, they and the Competition and Markets Authority initiated a multi-pronged crackdown on these erring operators and all of their affiliate partners.
Looking more in depth at the violations in question, they appear to range from inadequate money laundering controls to breaches in their advertising codes.
The Trouble Down the Line for Online Casinos
The Competition and Markets Authority announced recently that they have been in contact with a number of other online gambling operators who also appear to be in violation of their current licensing agreements. If these establishments continue to obstruct their customers from being able to access their funds in appropriate manners, they too will face severe consequences. Of major concern for the authority was the fact many of these online casinos give their customers extremely short windows to verify their identities in order to access their funds, keeping the money if the customer fails to verify in that limited time frame.
The UK Gambling Commission has pointed out these rules will be changed to protect existing operators and make certain new operators are capable of complying with the terms set forth by UK’s gambling regulator.
While this may be seen as troubling for some online casinos, it is a good sign for players that tougher regulations are now in place to protect them. Amid all the concerns about online identity theft, it is comforting to see these officials are making certain the online casinos are working to protect their customers in the future.