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Mybet shaken by financial instability

17 Aug 2018

Mybet newOne of the oldest online bookmakers, Mybet, is with their backs against the wall. A huge debt in the amount of €4 million has been accrued, and the possibility of imminent liquidity seems possible. The company’s management board confirmed just a few days ago that they are preparing an application to open insolvency proceedings. The worst thing is that the recent talks with an investor who was allegedly about to save the day for Mybet collapsed, making everything look grim for the German gambling operator.

What does this mean for Mybet Depositors?

Mybet published a statement a couple of days ago, commenting: “The background for the application for the opening of insolvency proceedings is the failure of discussions with potential investors. Today, the discussions with a strategic investor reported on July 13 regarding the possible sale of the online business of Mybet Holding under the domain www.mybet.com were closed. These talks failed due to conditions set by the investors which could not be fulfilled.”

Mybet’s service will continue to be available for the players, until further notice, while they assured their members that they will not be affected in any way.

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