Pinnacle departs Polish market
Pinnacle Sports, the sports betting operator, has withdrawn from Poland ahead of the country's market reorganisation.
The Curacao and Malta-licensed operator told players in Poland that it wishes to comply with new Polish gambling laws approved in December 2016.
In a note to customers it said it will make all Polish registered accounts inactive from April 1, with all remaining funds and balances returned to customers.
April 1 is also the day that Poland’s new gaming laws are due to come into effect. The Gambling Act, which was approved by parliament last December and signed by President Andrzej Duda in early January, was sent to the European Commission for approval and the mandatory standstill period expires on March 31.
The Act retains a 12% tax on wagering turnover, despite opposition from operators who claim such a high rate makes the market unprofitable.
A recent RGA report, carried out by consultancy firm Roland Berger, estimated the size of the online sports betting market in Poland was just over €100 million ($105.5 million).
Related article: iGB Market Monitor – Turnover tax means Poland is “mission impossible” – market would soar under GPT