It’s a sad ending for one of the quickly growing sports betting websites in India. We’re talking about NEO.bet that has grown from strength to strength in the Indian market, along with already have a presence in other regions as well, but they’ve decided to take a call of exiting this quickly-growing market in the Asian continent.
Many would wonder why NEO.bet is deciding to get away from the Indian market and the answer to that is quite simple really. There are a lot of regulatory and legal issues surrounding online sports betting in India. And while hundreds of such sports betting sites are operating in the Indian market, this brand decided to do the right thing and stay on the right side of the authorities, by shutting shop in India.
Neo.bet exits Indian market
They have a number of great offers and promotions for sports betting enthusiasts, and users on this platform will especially swear by their odds boosts which come up from time to time for big matches and tournaments. So don’t worry if you’re sitting outside of India as NEOBet is still accessible in other markets and has just taken a step back from the IND region.
In other countries, they actually have a pretty strong presence and have especially been known for their football betting markets in particular, while having hundreds of other sports as well. It was not too long ago that their signed German presenter Laura Wontorra as the Neo.bet brand ambassador, particular for the German market.
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The management decided to send out an email to NeoBet’s loyal Indian users and let them know that they will official be shut for users from India, effective 30th November 2022. For those who don’t see the email immediately, there’s a grace period of up to 10th December 2022 to withdraw funds from the platform. Check out the complete email from Neobet below:
Dear Sports friend,
NEOBet will be shutting down its India operations today, Wednesday, 30th November 2022. You need to take some necessary steps to secure your funds and withdraw them before Saturday, 10th December 2022. It has always been our goal to create an unforgettable sports betting experience. However, due to prevailing market conditions and government regulations, it has become extremely challenging for us to create a smooth, enjoyable betting experience. Therefore, we have taken the decision to cease operations in India.
We understand that this may have come as a shock to you but rest assured, your account holdings are completely safe and awaiting your action. Although you can still place bets today, you only have until Saturday, December 10th 2022 to withdraw your funds from your NEO.bet account, back to your bank account. All accounts, including those with funds, will no longer be accessible on and after Sunday, 11th December 2022. Any funds left in your account after Sunday, 11th December 2022 will no longer be available to you. Please visit this FAQ page for all your questions related to our withdrawal from India. It has been a pleasure serving you. Thank you from the entire team at NEO.bet!
As we mentioned above, NEO.bet will continue to remain active for users outside India so if that applies to your region, feel free to check out the website, and use their great offers and promotions to build your online betting bankroll. For more updates from NeoBet and their exclusive promotions and updates, stay tuned to ReadScoops.com…
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