Although any real details have not been given, it has been announced that BetBull will be closing down for good as of the 3rd of July 2022.
An email went out to existing customers and information on how the shut down will be handled has been placed on their website, but as for reasons none have been given.
The closest we have had as a quote comes from the company’s marketing director, Paul Archer, who simply said:
“This week BetBull will cease trading; it has been a great journey – seeing the brand take it first bet to its last. Thanks to everyone for their efforts in the past years and a special thanks to those I worked with most closely,”
It sounds like a sad farewell but it doesn’t shine any light on exactly what has happened.
Here’s a bit about the company’s journey so far, and what the shut down means for customers.
Who Were BetBull?
Using the past tense already is pretty sad considering they only launched 5 years ago, and with good intentions too.
BetBull were genuinely trying to bring something unique to the market in the way of social gambling; the mobile first offering acted as a betting site and a social media site where punters could share bets and tips.
Indeed, their tagline was “Never Bet Alone”.
The concept caught on initially before progress slowed a little, then COVID hit which probably didn’t help, along with further tightening of gambling regulations here in the UK and a new government white paper due in the coming months.
Not to mention the fact that the really big brands in the industry began offering their own free to play games which was something else BetBull was using to attract customers.
Entering the USA
Another encouraging sign early on for BetBull was their partnership with American company Wynn Resorts, penned in 2018.
This was before big companies started to make a move on UK bookies, hungry for their products and technology given the USA was about to relax the laws around online sports betting.
This made BetBull something of a pioneer, creating the Wynn Interactive division as a joint venture between Wynn, who took a 22% minority stake in the company, and Sadok Kohen, BetBull’s founder.
Wynn held a much larger 71% stake by the time BetBull threw in the towel, but it is thought that they were beginning to question whether the online gambling arena was really for them not long before the announcement.
This may be a rumour, and they may simply open a new US facing brand using the same technology they now own as the majority stakeholder in BetBull, but whatever they do, the BetBull brand is no more.
Can BetBull Customers Still Get Their Money?
Anyone with a funded account or live bets on the site has no need to worry, BetBull are doing things by the book and customers have plenty of time to withdraw funds.
Here is a calendar of important dates:
- June 20th – BetBull stop taking deposits and stop accepting new customers.
- June 24th – BetBull stop accepting bets. Future markets are already closed.
- June 26th – Bets placed that settle by this date will be honoured, any settling after this date will be voided and stakes returned.
- July 3rd – BetBull cease their automated withdrawal processes, their website is essentially closed, and from this point on punters will have to email customer services to make a withdrawal.
So the best thing to do is withdraw now or perhaps after the 26th June if you have an active bet with them.
If you do not withdraw funds before the 3rd then BetBull will try and make a withdrawal on your behalf, but it may not be possible in some cases.
Accounts don’t need to be closed, BetBull will manage that, but withdrawals are down to you.
If you need to contact them then their email address is: [email protected]