The online gambling operator Moplay has had its licenses suspended from both the United Kingdom and Gibraltar.
Moplay began its operation in 2018, under the innovation lead of Juergen Rutter, who previously worked for William Hill. Initially, it was sold as being a mobile-first brand that aimed to strongly compete with established betting sites. Shortly after its launch, Moplay grew in popularity due to its official sponsorships with Manchester United FC and Watford FC.
Last week, the UK Gambling Commission (UKGC) confirmed that it they will instigate a review of Moplay’s parent company, Addison Global Limited on the suspicion that the business has violated its licensing rules. This came after the revelation that the company was facing financial difficulties – not keeping in line with the rules surrounding financial support from shareholders and unable to process customer withdrawals. In a statement by the Gambling Commissioner, it concludes that their decision was made to “protect consumers from any further detriment.”
As a result, this prompted the Gibraltar Gambling Commissioner to revoke their license as well, with the addition of the Gibraltar Licensing Authority (GLA) having concerns that Moplay has failed to provide useful solutions to its current solvency issues.
Under the provisions of section 120(1)(d) of the 2005 Gambling Act, this suspension means that it is illegal for Addison Global Limited to continue offering any kind of gambling services via the moplay.co.uk website.
On Monday 24th February 2020, Moplay declared itself insolvent, meaning that the platform is no longer able to process customer withdrawals or accept further bets.