It Is Business as Usual at Black Type Despite Bookmaker Going into Administration

Online bookmaker Black Type has confirmed that it is going into administration but has told its customers to rest assured as this would not affect their accounts in any way and that it is business as usual.

Black Type was launched in 2016. The online betting operator entered the gambling market with the promise not to prevent winning bettors from winning even more by closing down their accounts. Black Type offers betting on various sports as well as casino and live casino games, but is primarily focused on horseracing.

Black Type is powered by technology by online gambling provider and white label operator FSB Technology (UK) Limited. FSB is running a number of brands in the UK and Ireland via its white label technology.

Just as the rest of its white label brands, Black Type’s terms and conditions section makes it clear that customers of the betting site are gambling with FSB and the company is the merchant of record for all deposits and withdrawals to and from accounts registered with Black Type.

In a statement on the Black Type website, FSB told customers that they will not be affected in any way as the business enters into administration and that they will be able to continue to use their Black Type accounts as usual.

FSB Promises Bettors’ Funds Will Remain Safe

In its statement, FSB said that bettors’ funds are safe and will remain safe as they are held in a Segregated Fund Account with Barclay Corporate Bank. Any unsettled bets or pending withdrawals will be honored by FSB, it also became known.

Customers will be able to continue to bet on sports, horse races, and other activities and to play casino games, as usual. There will also be no changes in Black Type’s responsible gambling controls and any limits that its bettors have put in place will continue to provide the protections requested.

It is understood that the regulatory pressure UK online gambling operators have been facing in recent years have forced Black Type’s management to put the business into administration.

In August 2019, the UK Gambling Commission announced that it had instigated a review into FSB after the voluntary suspension of activities on one of its white label gambling brands. Back then, FSB CEO David McDowell said that the regulatory body had expressed concerns “over the levels of due diligence performed on a small number of our white-label partners” and that those partners were fully cooperative with regulators so that a comprehensive resolution of the concerns was promptly achieved.

News about the review surfaced just weeks after FSB suspended the UK-facing website of controversial bookmaker 1xBet. FSB was the operator’s white label partner in the UK, but decided to reconsider its ties with it after a Sunday Times investigation detailed a series of questionable advertising practices 1xBet was involved in.

Source: Black Type Services Limited: Service Information and FAQs

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