Rhino.Bet exits UK market after just one year of operations
Rhino.Bet is shutting down its UK operations after just over a year in the market. The betting company announced it will cease trading on March 26, 2023, leaving customers with a short window to withdraw funds. Industry observers suggest the closure follows unmet business targets rather than regulatory issues. Rhino.Bet launched in early 2022 under a licence held by Playbook Gaming. The brand sought growth through partnerships with lesser-known sports and high-profile jockeys. Despite these efforts, it failed to gain the expected traction.
Customers now have until April 26, 2023, to withdraw any remaining balances. All unsettled ante-post bets will be cancelled, with no payouts issued. The UK Gambling Commission confirmed no enforcement action was taken against the company. This exit follows a similar move by Stake, another gaming operator, which left the UK in February 2023. Stake's departure came after an investigation into an undisclosed controversy, though no such issues have been linked to Rhino.Bet.
The closure leaves Rhino.Bet's UK customers with less than a month to access their funds. The company's departure adds to a recent trend of betting firms exiting the British market. No further details have been provided about the decision or its impact on Playbook Gaming's wider operations.
