Ladbrokes set to leave the Norway, Switzerland and Hungary markets

Withdraw from Switzerland, Norway and Hungary is now set by Ladbrokes as all international operations were reviewed by this operator. The withdraws form the mentioned operations comes in conjunction with the United Kingdom’s preparation to start Point of Consumption tax regime commencing on 1 November 2014.

Ladbrokes wishes to comply with the new incoming UK laws and will continue to withdraw from grey market territories. The UK operators are forced to declare all earnings of more than 3% of corporate turnovers on foreign jurisdictions. European jurisdictions have stepped up in 2014 all efforts to monitor and police online gambling operations.

In Norway a federal warning was issued by the Norwegian gambling authority Lotteritilsynet to 20 remote gambling operators for marketing gaming services to Norwegian citizens. The popular world social giant, Facebook complied with their request to remove 20 pages, while YouTube was also sent a request to remove some contents. This is the result of tougher policies and punishment being outlined by the Swiss government for operators breaching the Swiss gambling laws.

Ladbrokes have confirmed closing player accounts listed in the jurisdictions of Hungary, Norway and Switzerland and all marketing and partnerships have stopped in these regions. Players will no longer be able to deposit, yet existing funds can be withdrawn. The pullout is effective from 1 November 2014. In complying with the UK law, Ladbrokes also announced that further pullouts will continue.

Ladbrokes is synonymous with gaming and betting, which originated in 1886. Currently this giant employs over 13 000 people in the UK and their overall employment total is 14 000. Ladbrokes is a bookmaking market leader in Belgium, Spain, and the UK and combined it has a total of over 2,800 operating betting shops. On a daily basis Ladbrokes offers extensive retail presence to thousands of betting markets on mobile, telephone and internet.

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