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Mar 17, 2017  

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Asian sports betting giants SBOBET has told its UK players their accounts will be closed as of Sept. 15 to accommodate the UKGCs new regime. In an email to players, SBOBET said the unfortunate circumstance was a direct result of the UKs new gambling laws. Its a decision that we arrived at after a considerable discussion, debate and analysis. The fact for us is, as a major operator for the Asian handicapped system which is predicated on the value proposition. For every 100 we take as a stake, we pay out on the winnings. so we have a gross margin of 1%. The end of the day, we cant run high-tech business like ours or any other iGaming company with these associated costs. Out of the 1% margin and then pay 15% grosstax. Simply doesnt work, said Bill Mummery. SBOBet has quite a few Premier League sponsorship and following the rule changes, the UK Gambling Commission indicated in a letter sent to sports governing bodies: We [the commission] areaware that in some cases commercial partnership arrangements [which include sponsorship] are in place between sports clubs or bodies and remote gambling operators who do not hold a commission licence.

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The stocks cover the major markets, but also include more and more regional companies such as SingTel and Genting to appeal to their large Asian clientbase. Sbobet has gone for all the main option types, offering the richest possible variety and is usually better as a site introducing new users to binary options. Their arrangement focuses attention on up/down options (although theyve gone for the name high/low) and turbo options with one minute duration. The display of the charts is not the strongest point here, as there can be some initial confusion as to what is displayed and how the whole process works. Step-by-step guides are offered on the right-hand side of the display and novice users can get started from there. The whole setup feels slightly pressed into the framework of the main site, although many of the buttons are customized. Overall you get the feeling that while it is working it isnt completely ready. Another point that can be of some difficulty to users is that potential payouts are displayed by most binary options brokers in percentages. For example, if an option expires in the money, it would bring 176%, which equals the initial investment plus 76% profit. This can be difficult to understand by some sports betters who are either used to decimal or fractional odds where it would be displayed as 1.76 and 0.76/1 respectively.

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