Paddy Power Betfair operator exit Gibraltar

29 May 2017

paddy power betfairPaddy 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 biggest betting exchange
  • Multi-licensed
  • More than 35 sports
  • Cards & Corners
  • 100+ live tennis markets
  • Live Streaming
  • 150+ horse races daily
  • Telephone betting
  • High winning limits
Play now
100% Bonus up to €20
BOOK SPY
BOOK SPY BONUS REVIEW

When it was established, back in 2000, the Betfair betting exchange revolutionized online gambling. It gave bettors the ability to compete against each other based on a poker or stock exchange model. Players can bet with very high limits and also cover their wagers with more fair conditions compared to the Cash Out feature that traditional bookmakers offer. Professional bettors can use the exchange as a tool to follow the market trends and sell their bets. The high liquidity almost guarantees that your bets will be traded. Betfair is up-to-date with the latest features, like Bet Builder and Request a Bet, and added a fixed-odds section, too. However, the sportsbook payout is below par. Although the market depth in the exchange is huge, it is not as it once was. The liquidity of less popular sports and leagues has decreased dramatically due to the inability of some countries to regulate the betting exchanges, which forced Betfair to exit strategic markets. Moreover, the commission fees are relatively steep compared to other exchanges, such as Matchbook or Smarkets. There are additional charges if you are a very successful trader. Overall, if you are looking to bet on the exchange, then Betfair is unrivaled to any other company.

Join and grab exclusive bonuses, daily offers and free bets!

Lay hands on exclusive daily bonuses for members only. These promos are limited and are not advertised on the website.

Yes, I have read the Terms & Conditions and I consent to receiving emails from Bookmakers.bet regarding betting promotions, betting guides and news.

BOOK SPY

The Commission on the Regulation of Gambling and Lotteries (KRAIL) in Ukraine announced a new policy regarding unlicensed online operators that exist ...

Read more »

Spelinspektionen, the Swedish gambling authority, announced several changes to its licensing requirements to protect every player in a more efficient ...

Read more »

The renowned bookmaker Betfred announced that it has agreed for a two-year extension to its sponsorship with Super League Europe, the top-flight leagu...

Read more »

A few weeks after Anthony Joshua’s loss against Oleksandr Usyk in a heavyweight championship fight, we’ll be seeing a potentially even bigger heavywei...

Read more »

The Netherlands as of today, October 1, 2021 has officially opened its regulated online gambling market, allowing local players to place legal online ...

Read more »

Betsson AB board has announced that it has begun a quest to find a replacement for Group Chief Executive Pontus Lindwall. Since the program “Back on T...

Read more »

1xBet, has announced an agreement for one year with its first ambassador in India – the renowned cricketer Dwayne Bravo. The athlete is known fo...

Read more »

The former NBA legend and arguably the best basketball player ever, Michael Jordan, will be a special advisor to Sportradar’s board of directors. The ...

Read more »

The Swedish online gambling company, Betsson Group, announced that it has extended its cooperation with Gaming Innovation Group (GiG) regarding its au...

Read more »

Southampton Football Club has announced Parimatch as its official betting partner for the 2021/22 Premier League season. The bookmaker was launched in...

Read more »

LIST OF TOP BOOKMAKERS
22bet
  • 1.000+ live events daily
  • 95% payout on top leagues
  • Cashout
100% up to €122
1xBet
  • 1.000 live matches daily
  • Asian Handicap
  • 50+ sports
  • Code:BOOKSPY
100% up to €130
Sportaza
  • Few country restrictions
  • 35+ sports
  • High odds on secondary bets
  • Code:BOOKMAKERSBET
100% up to $100
20Bet
  • More than 1,000 live events/day
  • 150+ markets in football
  • 40,000+ events/month
100% up to €100
CyberBet
  • More than 15 sports
  • Alternative handicaps in basketball
  • 30+ live tennis markets
  • Code:BOOKBET
100% up to $300
Anonymbet
  • Few country restrictions
  • 30+ sports
  • Asian Handicaps
  • Code:bookmakers
120% up to $100
Wazamba Sports
  • Few Country Restrictions
  • 35+ sports
  • Card & Corner Bets
100% up to $100
Zodiacbet
  • 30+ sports
  • Asian Handicaps
  • Card and Corner bets
  • Code:ZB100S
100% up to €100
LeoVegas Sports
  • High average payout of 95% +
  • Best odds guaranteed on UK & Irish horse races
  • Live streaming feature
High Odds
Mr Sloty Sports
  • Few country restrictions
  • 30+ sports
  • Multiview Feature
  • Code:WSPORT501
50% up to $100
Royal Oak Sports
  • Few country restrictions
  • 30+ sports
  • Asian Handicaps
  • Code:WELCOMESPORTS
100% up to $100
Mystake
  • Few country restrictions
  • 1,000+ pre match events daily
  • 400+ football markets
100% up to $500
Lapilanders
  • Few country Restrictions
  • 1,000+ live events daily
  • 35+ sports
100% up to $120
Librabet
  • 35+ sports
  • Cards & Corners
  • 20+ Payment Options
100% up to €250
Powbet
  • 30,000+ events every month
  • More than 35 sports
  • Card & Corner bets
100% up to $100
LATEST BOOKMAKER PROMOTIONS