Goodbye to Social Betting Project BetBull After Closure Announced
Published June 23, 2022 by Lee R
By early July, withdrawals will begin being issued automatically as social operator BetBull shutters.
Social betting operator BetBull has announced the cessation of all operations from July 3rd of this year 2022.
Affiliates and Users Notice
BetBull stopped accepting deposits and registrations on June 20th and requested of all affiliates that BetBull promotional material and links seeking sign-ups from users be taken down from the same day.
Bets End
Bets will no longer be taken from June 24th, with users only able to conduct withdrawals until July 3rd, at which time BetBull's support team will close out the process by processing manual withdrawals and fund returns to players.
Last Month of Affiliate Commissions
BetBull has confirmed to all affiliates that commissions for June will be paid as normal, as the last month of fiscal operations.
The BetBull affiliate team's original announcement further indicated a procedure for affiliates to withdraw from the program as well, leaving affiliate earnings and results available for viewing in affiliate Income Access accounts until final commission payments are sent.
Last Processing in July
With BetBull's affiliate program concluding at the end of July 2022 with no further access for affiliates, BetBull advises affiliates to download any necessary data before July 31, 2022.
Settling the Last Bets
The only other activity possible on the site after June 24th will be the settlement of active bets for events before June 26th.
BetBull's Social Betting Movement
The social betting idea was born in 2015 with the slogan “Never Bet Alone.” BetBull launched in 2017, as a “social” betting operator offering enhanced features for users to share their bets.
BetBull's Rise
The project seemed to gain momentum when land-based US operator Wynn Resorts acquired a stake in BetBull in 2018, and more heat online when Wynn Interactive acquired BetBull in 2020, followed by BetBull's acquisition of fellow social betting platform Wager.
Slowing Momentum
However, momentum waned with the news that Wynn was considering selling off its interactive business, despite insistence by CEO Craig Billings last year that the operator was still committed to the company's online sector.
No Cause Given
Ultimately, the BetBull project did not pan out, with no specific reason given. BetBull marketing director Paul Archer has now indicated:
“This week BetBull will cease trading; it has been a great journey – seeing the brand take its first bet to its last.”
BetBull Leader Speaks
Archer offered specific thanks to all stakeholders “for their efforts in the past years and a special thanks to those I worked with most closely.”
Competitive Obstacles
Key obstacles known to compete with BetBull in the online sports betting social market include F2P and pick’em games.
Outlook
However, a more focused strategy and greater autonomous funds should be able to keep other organisations in the social online gaming movement moving forward.
