Mansion Group has confirmed that it is terminating its sports betting venture, MansionBet, as it looks to refocus more squarely on its online casino operations.
This means that MansionBet will cease operations on March 31, 2022. The move comes after the group reviewed the competitive conditions and regulatory frameworks within the UK betting market sphere.
The group will now look to develop its market share in territories such as Spain and the United States, where recent regulatory changes look to have created ripe opportunities to generate revenue. The group also recently made an application for a licence to operate in the Canadian province of Ontario.
A difficult decision for Mansion Group
As well as its increased focus on international markets, the group will also look to further develop its casino brands – Casino.com, MansionCasino, and Slots Heaven casino brands – in the United Kingdom, meaning that fans of their virtual football betting service will need to look elsewhere.
Mansion CEO Christian Block explained that the move was not an easy one to make, but he believes that it will bring benefits by allowing Mansion Group to pay closer attention to their casino services – an area where they have been traditionally strong.
“After careful deliberation, we have decided to cease trading our MansionBet brand,” he told reporters.
“The commercial decision was a difficult one, but it does provide opportunity to focus on our casino brands, where we have a long history of excelling.”
Mansion was originally founded in 2004, and launched the MansionBet venture in 2018. High-profile football sponsorships followed soon after, with the brand inking partnership deals with Premier League side Crystal Palace as well as Bristol City, the latter of which is still in place.
Customers who have outstanding bets with MansionBet can expect to see them honoured, however. Customers will be able to continue to log into their accounts until late April in order to withdraw any credit balances or winnings generated from virtual sports betting or other betting activities.
“After April 28th, 2022, if an open bet has not been settled, customers will receive their stake back,” a Mansion spokesperson explained.
“Should the bet win, customers will also receive winnings through a manual payment. This will continue until April 28th, 2023, to ensure safety of players’ funds and existing bets.”
MansionBet bids farewell to Bristol City FC
The decision means the end of the brand’s partnership with EFL Championship club Bristol City. The English club has worn the brand’s name on their shirts for the last two seasons and will continue to do until the end of the current English football campaign. In an statement regarding the end of the partnership, Bristol City FC expressed their gratitude to MansionBet for its support over the last seasons.
In addition to its soccer sponsorships, MansionBet’s name has also appeared as a sponsor in other sports such as horse racing, boxing, and snooker. It also had a deal in place to sponsor Sky Sports Racing’s coverage of horse racing in the USA.
The brand’s name appeared on race day previews and reviews, a sign of how seriously they were taking the opportunity to develop their position in the North American marketplace.