Betfred taking 'temporary pause' in Ireland from end of June but World Cup bets to be honoured

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Betfred have told customers in Ireland that they are taking a "temporary pause" in the market at the end of the month, which switches to a new licensing regime for remote betting on July 1.

Punters were warned that they would not be able to access their accounts with Betfred from June 30.

No timeframe was given for how long Betfred would be unavailable in Ireland, although it is not expected to be a long period.

The move raised questions about what happens to those punters with ante-post bets. It is understood Betfred intend to honour such bets on the Fifa World Cup, which ends on July 19.

Betfred said they would be "in touch shortly" about open bets on customer accounts.

In a message issued to customers this week, Betfred said they were "taking a temporary pause in the Irish market, while we align with the new GRAI gambling regulations", adding: "We hope to be back soon."

The message told customers to withdraw any balance before June 30 and not to place any bets that settle after June 29.

In February Ireland's government granted the new industry regulator, the Gambling Regulatory Authority of Ireland (GRAI), additional powers allowing it to issue betting licences. 

The new regime for licensing remote betting operators comes into force on July 1.

The GRAI will be able to fine those operators which breach regulations up to €20 million, or ten per cent of turnover, whichever is higher. 

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