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Betbull closes second betting exchange

As reported by Gaming Intelligence: "Betbull Holdings SE has this morning confirmed the closure of its betting exchange platform at Betbull.com, with effect from February 28th 2009. This follows the recent closure of its German-facing betting exchange platform Betbull.de late last year, prior to the enforcement of the German State Treaty on Gaming on January 1st 2009.

"Betbull said that the decision to close both its betting exchange platforms will have no impact on its online sportsbook offering which will continue to be offered to retail clients via its Primebet.com brand.

"The company said it is working with its platform provider, Global Betting Exchange, to ensure a smooth exit and minimise inconvenience to customers. Payment provision for accounts with credit balances will be maintained and alternative account facilities will be available to clients via Betdaq, which operates on the same exchange platform.

"Betbull estimates that the impact of closing the betting exchange business will be a group consolidated loss of €60,000, and no movement in liquid funds due to the release of security collateral..."

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