BetBull customers urged to withdraw funds as firm announce July 3 closure

Gambling firm BetBull have urged customers to withdraw all funds by July 3, while they will cease taking and settling bets at midnight on Friday.

Any existing wagers due to be settled after that will be voided and stakes refunded, with customers blocked from making deposits on Monday this week.

In a post on their Twitter feed, BetBull announced they had taken "the difficult decision to cease trading, effective 03/07/22."

The firm's website landing page features a lengthy series of questions and answers aimed at supporting customers and ensuring none are left out of pocket.

Stephen Power – more widely known as the Racing Blogger – was still providing social media content for BetBull around Royal Ascot last week, while football ambassadors Darren Bent and Ray Parlour gave their take on the UEFA Champions League final between Real Madrid and Liverpool last month.

The Racing Blogger Stephen Power has featured as a social media brand ambassador for BetBull

Launched in 2017, BetBull are one of a number of gambling firms that have attempted to use new media as a tool for making betting a social activity between friends, having adopted the marketing tagline 'never bet alone'.

The BetBull app allowed members to track the progress of tipsters as well as to interact with other users who had backed the same outcome in a sporting event.

In November 2020 US-based casino and gaming giant Wynn Resorts became major shareholders in BetBull, investing $80 million.

Some media reports have suggested the decision to close was taken because of regulatory headwinds rather than any financial difficulties, with the company's most recent publicly filed accounts showing a six-figure operating profit.

Read this next . . .

Juddmonte say 'nothing malicious' behind Rob Hornby being replaced on Westover

Stradivarius set to bid for fifth Goodwood Cup but Ascot rivals stand ground

The Greatest Ever Race is an unmissable new Racing Post series in which major racing names, such as Sir Mark Prescott, Rishi Persad, Richard Hoiles, Nick Luck and Jessica Harrington, nominate their greatest race of all time across ten fantastic features, followed by a public vote. It kicks off in the newspaper on Monday, June 20 and every article will be available exclusively to Members' Club Ultimate subscribers online the evening before print publication. Click here to sign up.