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It was announced on Monday 16th January that online bookmaker STS Bet would be the latest betting site to close their doors and leave the UK market.
From Monday, STS Bet will be no longer accepting any new registrations and deposits from players.
STS Bet was launched in 2019 meaning that the betting site has lasted less than four years in the competitive UK gambling industry.
STS Bet is Poland’s leading betting brand and initially looked like it would be one that lasted in the UK. A major deal to bring ex-Danish and Manchester United goalkeeper Peter Schmeichel in as brand ambassador added credibility to the name and throughout the brands time online, they offered customers some generous betting promotions for various sporting events throughout the year.
Despite the announcement to leave the UK market, the betting brand has seen some impressive growth domestically.
In their latest annual report, STS Bet recorded a 4.2% increase in revenue from the previous year, bringing in over £868 million. They also had a record fourth quarter that was mainly due to the 2022 World Cup which was held during the British winter for the first time.
In the final three months of 2022, STS Bet attracted 200,000 new players and had nearly 500,000 active customers throughout the World Cup period. However, the majority of their growth last year came domestically from Poland where they have been focussing most of their efforts and it seems as though this territory will be what the brand will be targeting going forward.
The UK betting industry is renowned for being extremely competitive and often referred to as saturated with several brands competing for customers and many failing to achieve their targets in the market. Smaller operators such as STS Bet have a tough time competing against bigger and more established brands such as Bet365, William Hill and Betfred and STS Bet isn’t the first, nor will be the last, to accept defeat in the UK.
STS Bet is no longer accepting any new registrations from UK players. If you have an account, you will also not be able to make any further deposits or place any new bets. However, withdrawals are still open until the official closure date of February 14th. If you have a positive balance in your account, you have until this date to submit a withdrawal via STSBet.co.uk.
If you have any outstanding bets which are yet to be settled, they will be honoured by STS Bet given that the company is simply leaving the UK market and not ceasing operations entirely. This is providing that your bets are due to be settled before the closure date of February 14th. Any outstanding bets which are due to settle after this date will be voided and stakes refunded. Unused free bets, free spins and other bonuses will be forfeited if not used by the closure date.
If you do not submit a withdrawal request by February 14th, you can request a withdrawal by emailing [email protected].