In recent months, there has been a massive crackdown on off-shore sports betting websites that offer sports betting solution to those betting from India. There have been legality as well as taxation issues and a few of these sports betting websites have even gone on to shut down operations in India, while being completely accessible to other geographical regions where betting is legal.
One platform that recently sent out an email to its players is Funbet which has closed itself to Indian bettors, a decision made not by their parent company Genesis Global but by the software provider, SBTech, which is a leading provider of interactive sports betting solutions and services. We assume that it could be because of the growing scrutiny on such off-shore sports betting websites operating in India.
For those who used the Funbet website, you would know that they not only had the widest range of sports betting markets, but they also had INR (Indian Rupee) as a currency option and localised Indian payment methods as well. A couple of weeks prior to shutting itself off to India, UPI had stopped working as a payment option and that would’ve been Step 1 towards the closure.
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They sent an email to their users to notify them about their closing of services in India. Registered under the laws of Malta, Funbet will continue to operate in other markets and for those who have pending balances in their Funbet India accounts, you have 2 months from 1st July 2021 to transfer / withdraw these funds. Take a look at the email:
Dear (Player),
We hope this email finds you well.
We regret to inform you that it is no longer possible to play with us if you are located in India your account has now been closed.
Your account has been put on a ‘withdrawal only’ state. This means you will be able to log in and withdraw any remaining funds on your account but cannot deposit or play.
You have 2 months (from the 1st of July 2021) to make a withdrawal request for any remaining funds.
We would like to take this opportunity to thank you for your understanding and apologise for any inconvenience this may have caused.
If you have any further queries regarding this matter, please do not hesitate to contact us.
Kind Regards,
The Funbet Team
Remember, Funbet is still open as a sports betting website and has only closed to Indian players. If you’re reading this from anywhere else in the world, go on and enjoy a little bit of sports betting and online casino gaming. For similar updates on sports betting from around the world, stay tuned to ReadScoops.com!
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