Paddy Power Betfair Group have decided to end its licence and stop operations in Gibraltar. According to top executives, the reasoning of this decision was based entirely on cutting operating costs.
Nonetheless, many remain sceptical on Paddy Power Betfair's recent exit from Gibraltar and believe that the prime reason for shutting down shop, is attributed to the recent triggering of Article 50. No matter where the truth may lie, the British operator has already decided to relocate their offices in Dublin and London, within the coming month. Furthermore, Paddy Power offices in the Isle of Man have also been shut, a procedure that had started last June.
The Gibraltar government had this to say on the recent Paddy Power Betfair development: "It is clear from our relationships with the industry that Gibraltar remains the premier and first choice jurisdiction for the biggest and best operators in this industry. At present four operators licensed elsewhere in Europe are developing their applications to be licensed and located in Gibraltar. Whatever Brexit may produce for Gibraltar, Government will adapt its licensing and regulatory arrangements to ensure we remain the premier remote gambling jurisdiction."
Why choose Betfair
- The largest and the most reliable betting exchange in the world
- You can trade your bets
- Wide range of markets
- Great choice for advanced players
- Great variety of products besides sports betting
- Minimal margin on tournament winners & correct score
- Huge range of payment methods & quick withdrawals
- Top live streaming service
- Cash out
If you make yourself familiar with every pink and blue box, you’ll realize why Betfair is a completely different story from any other traditional bookie. The most famous betting exchange operator, Betfair has been in the industry since 1999 and have been the pioneers of a great number of services that almost all reliable bookies offer today. These include live streaming, cash out and many more. As a betting exchange they allow every bettor to act like a bookie himself and lay bets instead of only backing them. However their bonus policy is slim and perhaps could see an impovement.