MoPlay Brand Declared Insolvent After Gambling Commission Suspends Its License

March 20, 2020

The online sports betting brand MoPlay has declared itself insolvent and is currently refusing to allow players to cash out. This came after its parent company, Addison Global, had its license suspended by the Gibraltar Licensing Authority, a move that was swiftly enforced by the UK Gambling Commission.

MoPlay betting app

The online sports betting brand MoPlay has declared itself insolvent and is currently refusing to allow players to cash out. This came after its parent company, Addison Global, had its license suspended by the Gibraltar Licensing Authority, a move that was swiftly enforced by the UK Gambling Commission.

Now, the company is refusing to pay its customers due to financial difficulties.

Addison Global was founded in 2017, headed by former William Hill innovation lead, Juergen Reutter, as CEO, and Patrick Jay, previously a Ladbrokes betting and trading director, in the role of COO ( Chief Operating Officer). Shortly after, it launched MoPlay, which was self-entitled “the slickest betting app on the market.”

Clause 9 of MoPlay’s terms and conditions added: “Funds will be held separate from company funds in a mixture of bank accounts and reserve funds which we hold with our payment processors. However, if there was ever a situation where we became insolvent, your funds would not be considered separate to the other company assets and you may not receive all your funds back.”

betmentor.com

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