GG.Bet Leaving UK Esports Betting Market This Week

Esports-focused betting platform GG.Bet will end operations in the UK this week after surrendering its license.

All bets placed before January 9 will be settled. However, bets placed on events after that date will be voided, with the funds returned to account holders’ balances for withdrawal.

The company announced its decision to relinquish its UK license last month, informing customers via email. 

Licensed under the name Rednines Gaming, GG.Bet offered UK customers esports betting as well as access to its online casino. 

The UK Gambling Commission website notes Rednines Gaming surrendered both its remote casino and general betting licenses on December 13. 

New Taxes and Regulations Impacting UK Operators

The UK’s decision to raise taxes on online casinos from 21% up to 40% may have had a large bearing on the company’s withdrawal. The new rates will take effect in April this year. 

Major betting companies voiced strong opposition to the tax increases. The Betting and Gaming Council (BGC), a trade body group made up of the UK’s leading gambling companies, said the higher rates will drive users to offshore platforms. 

GG.Bet will now operate through offshore jurisdictions as it continues to hold a license in Curacao. UK gamblers will be geoblocked from accessing the site, but with VPNs, users can often find ways to circumvent these restrictions and access the platform. 

In addition to the tax changes, the UK Gambling Commission is introducing stricter measures on operators later this year, forcing platforms to allow users to set deposit limits. 

As part of the new regulations, companies must prompt new users to set a deposit limit and also regularly remind users to review their spending. 

GG.Bet Continues Esports Commitment 

As it winds down its UK operations, GG.Bet continues to focus on esports betting. It has frequently sponsored esports events, including launching its own LeGGends CS: GO showdowns.

Last year, it also partnered with Esports Charts to enhance the Esports Map, a tool that provides real-time access to the most-watched esports events globally. 

Esports Charts said the use of GG.Bet’s betting insights have enhanced the project, which covers peak viewership, prize pools, and stories of unexpected victories. 

“When combined, this data turns into a live snapshot of esports that can be tracked by country and region,” said Esports Charts in a release.