Betfred has announced a temporary withdrawal from the Irish market as the country prepares to introduce a new gambling licensing framework overseen by the Gambling Regulatory Authority of Ireland (GRAI).
The operator informed customers that access to Irish accounts will be suspended from June 30, urging users to withdraw any remaining balances before that date. Customers have also been advised not to place wagers that are scheduled to settle after June 29, as the company works to align its operations with the incoming regulatory requirements.
In communications sent to players, Betfred described the move as a temporary pause while it adapts to the new rules. The company indicated that it intends to return to the market but did not provide a specific timeline for resuming services. It also said further details would be shared regarding unsettled and long-term bets held in customer accounts. Reports suggest that certain major tournament wagers, including World Cup bets, are expected to be honored.
The suspension comes just weeks before Ireland’s new remote betting licensing system takes effect on July 1 under the Gambling Regulation Act 2024. The reforms give the GRAI full authority to license online betting operators, monitor compliance, and enforce penalties against companies that fail to meet regulatory standards.
Under the new framework, operators could face fines of up to €20 million or 10% of annual turnover for serious breaches. The legislation also introduces stronger consumer protection measures, enhanced anti-money laundering requirements, and plans for a national gambling exclusion register.
Betfred entered Ireland’s online gambling market in late 2024 and currently has no retail betting shop presence in the country. The company remains a major operator in the UK, where it runs more than 1,300 betting shops alongside its online sportsbook and casino business.
The decision highlights the wider adjustments taking place across Ireland’s gambling sector as operators prepare for one of the most significant regulatory changes the market has seen in decades.