Deutsche Telekom Sports Betting Venture Closes

Just over a year from its launch in April last year, joint venture fails

In April 2015 Deutsche Telekom made the industry news columns with its sally into online sports betting in partnership with Austrian provider Österreichische Sportwetten. There were high hopes at the time for, the online betting enterprise in which DT held a majority stake.
Those came rather abruptly to an end this week with the announcement by DT that it has shuttered the operation with immediate effect just over a year from its much publicised launch. No explanation was offered for the decision.
In a notification to players the operator thanked them for their loyalty and outlined the shutdown procedures, which include:
* No further bets accepted, but players will have full access to their accounts in order to withdraw positive balances;
* Current winning bets and loyalty points will be honoured and credited in cash;
* Any open bonuses have been credited to players' accounts.
Media reports quoting an unidentified German market observer subsequently claimed that DT's involvement in the project had been an expensive mistake, and that the decision to shutter the German operation had been taken "for commercial reasons".
The source claimed that Österreichische Sportwetten's technology deployed on was an outdated and uncompetitive product that had hampered the business, but that OS would continue to operate the Austrian Tipp3 site on its own.

Online Casino News Courtesy of Infopowa