Canbet Relinquishes UK Gaming License

May 21, 2014
Canbet Relinquishes UK Gaming License
Australian online sports betting company Canbet relinquished its UK Gambling Commission license and it is rumored that the decision was made to avoid the negative attention drawn to the company should the Commission revoke it first.

Canbet faces allegations that it cannot meet payment obligations of approximately $2 million and has closed leaving punters unpaid.

The Commission made an announcement on May 7th indicating that Canbet had surrendered its license but there were no details regarding the status of the company.

Canbet management also face accusations of accepting unauthorized wagers on a range of sports across Australia.
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