LiveScore Bet Announces Withdrawal of Operations in The Netherlands
LiveScore Malta Limited (part of LiveScore Group) has today confirmed the withdrawal of its LiveScore Bet brand from the Netherlands, with operations set to formally cease on 29 November 2024.
The decision follows the planned government tax increase which is set to rise by almost a quarter from 30.5% to 37.8% of Gross Gambling Revenue. The relinquishment of LiveScore Bet’s licence has been communicated to the regulator, Kansspelautoriteit (the “KSA”).
Currently, the primary concern for LiveScore Bet is of the impact on its people and customers. A process is now underway to inform all LiveScore Bet customers, whilst account registration has been deactivated meaning that there will be no new players join the site. All impacted employees have been informed and are now subject to a confidential consultation process.
Sam Sadi, CEO of LiveScore Group, said;
“On behalf of all LiveScore Malta directors, it is with regret that we have made the difficult decision to exit LiveScore Bet from the Netherlands. Unfortunately, the planned tax increase means that this market is no longer viable commercially.
Since our launch in 2021 we have built a brilliant community of engaged customers, and we will greatly miss our relationship with them. We would like to thank our players, people and partners during our time in operation.”
LiveScore Bet Netherlands will be implementing the follow steps for active players to smooth the closure transition:
- Week commencing 25th of November, players will no longer be able to deposit funds.
- Player account balances will still be able to be used to wager until 29 November 2024.
- On 29 November 2024, LiveScore Bet will discontinue the ability for players to participate in games of chance and wager.
- On 29 November 2024, LiveScore Bet will also refund all player account balances to the linked contra accounts.
- LiveScore Bet will allow players to contact customer support post 29 November to ask questions about their account, and the disbursement of funds in the event of any withdrawals that could not be refunded on 29 November 2024.
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Notes to editors:
For more information, please contact press@livescoregroup.com
About LiveScore Group
Established in 2019, LiveScore Group™ is home to LiveScore, LiveScore Bet and Virgin Bet; three of the most exciting brands in the sports and gaming industries today. The Group is a fully owned and operated ecosystem that converges the most relevant sports content and engaging features with a world-class sportsbook. All served by a purpose-built, in-house tech stack delivering a frictionless customer experience.
Guided by its vision of Fuelling Fans’ Passion for Sport, its model directly addresses several industry challenges. Against a wider backdrop of sports content consumption that is inefficient and uneconomical, modern sports fans are expected to navigate a fragmented ecosystem delivered by different brands and companies across various apps, platforms and devices. Completing basic and repeatable actions require managing multiple paid subscriptions and accounts.
LiveScore Group, centred around its pioneering ‘convergence’ strategy, is improving the symbiotic relationship between the sports media and sports betting industries to deliver better returns and, vitally, a better experience for users.
About LiveScore Bet
LiveScore Bet™, is a sportsbook offering customers in the UK, Ireland and Nigeria a new and improved betting experience within the LiveScore ecosystem. Building on the existing user relationship with the trusted LiveScore brand that is already a core part of the live sport experience, LiveScore Bet seeks to deliver a best-in-class product and represents a new opportunity for customers to bet responsibly. LiveScore Bet has been able to emerge from the crowd with a vibrant personality, a world-class product and demonstrable growth that has set it apart from the chasing pack.
It is the fastest-growing sportsbook in the UK and the recent winner of several prestigious industry awards including International Gaming Awards 2023 ‘Best Mobile Product of the Year’, EGR Operator 2022 ‘Rising Star’, SBC 2022 ‘Rising Star’, EGR Marketing Awards 2022 ‘Innovation in Sports Betting