STS Bet Closing in UK

STS Bet to Leave the UK Market

Alexa, play Queen, Another One Bites the Dust.

STS Bet, the Polish sportsbook and casino operator, have decided that they are going to pull out of the UK market and focus their efforts back home.

They are the latest brand to have flirted with the UK for a brief while, before deciding it wasn’t a good match and calling it quits.

They only entered the UK market in 2019.

A bit like a relationship that doesn’t work out, the UK probably looked exciting and attractive from afar, and the ‘getting to know each other’ stage was fun, but now it’s been a few years and we leave socks on the floor and don’t do the dishes so STS have had dumped us.

It’s not just us though, they are also pulling out of Estonia, and all this despite a record breaking year for them. So what gives?

Why are STS Closing in the UK?

STS Rising Revenue

The company recently released their annual report, and in it they showed record revenues of £868.4 million which is up 4.2% on the previous year.

Gross gaming revenue was up 9.2% and they had the busiest Quarter 4 in their history, so the company really is firing on all cylinders.

However, according to Mateusz Juroszek of their managing board, a healthy sporting calendar can explain much of this success:

“Our offer attracted as many as two hundred thousand new players in the last three months of the year. During the World Cup alone, we had nearly half a million active customers.”

Plus, much of the growth came from the domestic market, rather than foreign territories, so the plan for STS is to double down at home, and forget the international expansion as an experiment that didn’t really work.

Juroszek also said:

“Operating data for last year clearly show that the domestic market is in a growth phase, despite the extremely difficult macroeconomic environment – the war in Ukraine, high inflation and economic stagnation.”

“Since the beginning of this year, we have been focusing our activity exclusively on Poland. Our goal for the difficult year 2023 is greater efficiency of operations and a number of implemented savings.”

The impending white paper on gambling reform in this country probably didn’t help matters, and the industry in the UK has been saturated for many years now too, making competition for business fierce.

It’s the same old story really; difficult operating conditions that are likely to get harder which makes life incredibly difficult for smaller operators like STS.

What Should STS Customers Do?

Confused ManI probably should have put this section at the top for anyone who might be worrying, but to be honest so many bookies have left the UK market in the las few years you probably know the form by now.

The official date for closure is 14th February, Valentines Day – see, it really is like a relationship that doesn’t work out.

STS will not accept any new registrations or deposits from today, but anyone with money already in the account can bet as usual up until the site closes, and all bets until then will be honoured since the company isn’t closing down.

However, bets that settle after the 13th Feb will be voided, and stakes returned, while unused bonuses will be forfeited if not used by this point.

This is slightly unusual, other companies who have withdrawn from the UK have allowed a week or so before new deposits were refused, but hey ho, it’s their company and they can do what they like.

Obviously it would be best to withdraw any funds you have in your STS account before the 14th, but after that point and funds can be requested for withdrawal by contacting customer support on [email protected].

Whatever happens, no one should end up out of pocket since the company is in good health – they won’t be making a mad rush for the exit without paying their bill.