Betfred acquires MoPlay's customer data.
### Betfred Buy MoPlay Customer Database: Good News for Some UK and Irish Customers
The UK betting company Betfred has secured part of the customer database of the insolvent MoPlay operator Addison Global. This means that some UK and Irish players will be able to recover their funds from their MoPlay accounts by opening an account with Betfred.
MoPlay has been in financial trouble since late February, and the future of the brand is uncertain. Betfred, meanwhile, is thriving in the USA and continues to expand its operations.
Payout via Betfred Account
MoPlay's last update on its website read, "Due to financial difficulties, we can no longer make any withdrawals." But now, some British and Irish customers can finally relax as Betfred plans to refund their customer funds. Players will have to register with Betfred first to access their MoPlay balances. Betfred will reportedly contact these affected customers within 72 hours of registration.
MoPlay Insolvency: 597,000 Euros in Debt
MoPlay's insolvency was not a surprise. Three days before the freeze on payouts, Addison Global lost its licenses in the UK and Gibraltar due to over 597,000 euros in debt to affiliate partners. The MoPlay website then went offline in the UK.
The company pleaded with regulatory authorities, claiming they missed out on financial support from shareholders. Paragraph 9 of MoPlay's General Terms and Conditions states that customer funds are considered "part of the business" in the event of insolvency, which is concerning as it offers limited protection for customer funds. The UK Gambling Commission is currently investigating the matter.
Addison Without Management
It's unclear why MoPlay didn't seek help sooner, as they were sued by Manchester United for 11.9 million euros in September 2019, also due to unpaid fees. Addison Global, founded in 2017, is currently without a management team, with the previous management stepping down before the licenses were revoked.
However, iGamingBusiness reports that the company's main shareholders are still working with the management team to prevent complete collapse.
Betfred Expands to America
Betfred, known for its aggressive expansion plans, seems to be targeting UK and Irish MoPlay customers. They've signed an agreement with NetEnt and extended their partnership with Playtech until 2024.
In the USA, Betfred is making a strong push, with high-profile deals in Pennsylvania, Colorado, and Iowa. These states have legalized online sports betting, giving Betfred a promising opportunity to expand its presence in the growing market.
[Image of Betfred, MoPlay, and Addison Global logos]
Header 1: Betfred Moves In on MoPlay Customers
The British bookmaker Betfred has purchased a portion of the customer database for the insolvent sports betting operator, MoPlay. This move could benefit some UK and Irish customers, as they will be able to recover their funds by opening a Betfred account.
Recently, MoPlay's last update on its website stated that customers could no longer make withdrawals due to financial issues. However, with Betfred acquiring part of the customer database, some location-specific users are reaching out to the company, which plans to refund customer funds.
Moplay Payouts
Customers in the UK and Ireland have been given instructions to open a Betfred account to access their funds. Once done, they can expect a call from Betfred within three days.
A statement from Addison Global and Petfre, the owner of Betfred, confirmed the repayment plan. They reassured customers that they were focused on privacy and security while finalizing the process.
Moplay's Financial Woes
The insolvency of MoPlay isn't a shocker. Just three days before the payout freeze, the company was stripped of its licenses in both the UK and Gibraltar. The financial problems arose mainly due to debts owed to various affiliate partners amounting to around 597,000 euros.
List: The fall of MoPlay
- Lost licenses in the UK and Gibraltar
- Debts of over 597,000 euros to affiliate partners
- MoPlay website went offline in the UK
According to the General Terms and Conditions (GTC) of MoPlay, customer funds are considered "part of the business" during insolvency. This raises concerns about the protection of customer funds, as the UK Gambling Commission is currently investigating the situation.
Management at Addison Global
As the company's financial situation worsened, the management team at Addison Global stepped down. It is unclear whether they are still involved in the business. However, iGamingBusiness reports that they are working with the main shareholders to avoid a complete collapse.
Betfred's Ambitions
Betfred, based out of Warrington, England, is currently on an international expansion spree. They've recently opened accounts with Saxo Bank A/S and Interactive Brokers LLC.
In the UK, they inked a deal with NetEnt; their partnership with Playtech (Isle of Man) was just extended till 2024. Their success in the USA is particularly noteworthy, with multiple major deals in Pennsylvania, Iowa, and Colorado.
Header 2: Expansion across the Pond
Betfred's international expansion isn't limited to Europe. They're currently making significant strides in the USA, where online gambling is becoming more liberalized. In Pennsylvania, Betfred has established partnerships with Wind Creek Casino and Scientific Games. Similar alliances were forged in Iowa and Colorado, both of which have legalized online sports betting.
These multi-year agreements may pay off in the long run, securing Betfred's position in the budding US market.
Link to original story
Betfred Buys Part of MoPlay's Customer Database
UK bookmaker Betfred is stepping in to rescue some MoPlay customers by acquiring parts of its customer database. This will allow certain UK and Irish customers to have their funds paid out through their new Betfred accounts.
MoPlay's insolvency, which was caused by approximately 597,000 euros in debt to affiliate partners, may prompt a relaxing moment for affected gamblers. Meanwhile, UK Gambling Commission (UKGC) investigates the situation for customer funds' protection. Addison Global, MoPlay's parent company, is reportedly undergoing a management shake-up while working with shareholders to prevent total collapse.
In the meantime, Betfred's expansion ambitions are on full display in the US market. Deals with Wind Creek Casino and Scientific Games in Pennsylvania, and partnerships with Grand Falls in Iowa and Saratoga Casino in Colorado create promising prospects for Betfred in the US online sports betting milieu.
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Source: www.onlinecasinosdeutschland.com
