RhinoBet to Shut Down UK Operations

With operations ceased on March 26th, customers have been informed that any open or unsettled bets that remain so beyond this date will be voided, meaning that customers will have their wagers returned, although they will have just one month to withdraw their funds before the site closes entirely on April 26th.

The website’s official statement reads as follows:

“We are no longer accepting new deposits or registrations. You can withdraw any remaining balance until 26th April 2025. After this date, accounts will no longer be accessible. Any open or ante-post bets that remain unsettled by 26th March 2025 will be voided. If you have any questions or need assistance, our support team is available. […] We appreciate your understanding and thank you for your support.”

This news highlights just how competitive the UK gambling market has become with many major players striving to achieve marginal gains in an effort to increase their market share. The likes of Entain, Flutter Entertainment, and 888 represent a majority of the major players, while there are many smaller players operating within specific niches, including Dragon Bet and McBookie.

McBookie’s Director, Paul Pedrie, explained this niche approach two years ago: “Regionalised bookmaking… we’ve been banging the drum for it for so long and there are massive gaps in the market, but you need to be strict in what you do.”

To overcome this strong competition, RhinoBet seemingly invested heavily in its marketing, specifically within the sports scene, sponsoring the likes of Leyton Orient Football Club and Dartford Football Club, as well as jockeys Henry Brooke, Josephine Gordon, and Sam James.

Despite this investment and 3 years of running, RhinoBet has been unable to compete and will therefore cease operations. It is increasingly difficult for gambling companies to succeed, especially for those that launched during the pandemic, and with many big-budget competitors to challenge, RhinoBet surely won’t be the last to fall short of the mark and close up shop.