Betcade to close at end of month
Mobile gambling app store Betcade is to shut up shop on Tuesday 31st January.
Although the reasons for the closure remain unclear, founder and CE David Chang has issued a press statement saying that, while he hoped to see the gambling industry adopt a ‘mobile-first’ focus in 2017, Betcade “will not be able to directly contribute to this shift as we are in the process of closing business operations.”
Chang added that “Start-ups seek to positively influence the industry which they are in. However, this comes with considerable risk as a business.”
The news came as a shock to industry insiders who’d been impressed with the partnerships Betcade had developed with igaming operators over the past 18 months.
Betcade seemed to be gearing up to become the first provider of real money gambling products on the Android mobile platform.
But while the company had gained approval from the UK Financial Conduct Authority in October and had launched Betcade Pay last month, the conclusion was reached that “the best course of action for the company was to close the business in an orderly manner and look after our people the best we can”.
Chang’s statement concluded with him thanking those in the sector who “believed in our vision and partnered with us to help provide a better gambling mobile experience for everyone as we sought to bring a revolutionary product market”.