Betfred To Pause Operations in Ireland
Betfred to Pause Operating in Ireland
Betfred will temporarily stop operating in Ireland, as the UK bookmaker makes the required changes to satisfy the new gambling rules put in place by the Gambling Regulatory Authority of Ireland (GRAI).
The GRAI will take over the licensing system from 1st July as Ireland’s gambling market begins a bold new era, ending years of uncertainty and outdated rules regarding gambling in the country.
Operators deemed in breach of the new regulations face fines of up to €20 million or 10% of turnover (whichever is higher), which may be why Betfred wants to ensure they’re 100% ready before going live under the new rules.
How Betfred's Temporary Exit Will Affect Punters
Betfred customers will be unable to access accounts from 30th June and are advised not to place any bets that settle after 29th June, while it’s recommended that customers withdraw any funds from their balance before 30th June.
However, Betfred will honour ante-post bets, including those placed on the FIFA World Cup, which ends on July 19th.
Those with Betfred accounts should have received a message outlining what’s due to happen and when.
Will Betfred definitely be back?
Betfred only entered the Irish market in the autumn of 2024, but while the company is opting out for the time being, the consensus is they’ll eventually rejoin the list of bookmakers active in Ireland.
In the message sent to customers, Betfred, after explaining the pause was to align with the new GRAI gambling regulations, signed off with “We hope to be back soon,” which clearly indicates that the temporary withdrawal won’t become permanent.
