A Big Bet365 Transition
The business side of the online gambling world can be particularly interesting, and we’ve seen a lot of big moves, mergers and deals happen over the past few years in particular. However, one big move that’s turning a lot of heads right now has to do with Bet365 preparing for the effects of a “hard Brexit” and the potential fallout.
A part of this that’s getting a lot of attention is the fact that they’ve cut loose about 80 percent of their staff in their Gibraltar location.
While the reasons for cutting these employees are straightforward, it’s still leaving a bad taste in the mouths of a lot of individuals, particularly those who may not completely understand the situation that Bet365 is facing with the current UK and EU environment and the environment that they could be facing in just a few months.
Why the Big Move?
What’s happening right now with Brexit is that things are going to be tricky as far as operating from Gibraltar to run EU operations. This is because cooperation between the UK and EU is not likely to be nearly as strong right after it goes down. Since Gibraltar is a British territory, Bet365 wants to move those EU operations to their location in Malta.
As a result, that means a lot of employees have to bet let go or move from Gibraltar to Malta.
Perhaps unfortunately, there’s not really a lot that can be done about this. There’s nothing Bet365 can realistically do about keeping those jobs in Gibraltar because there simply aren’t going to be jobs there to do. While some people like to blame businesses for doing these sorts of things occasionally, the fact of the matter is that they don’t have much of a choice in this particular situation.
Options for Employees
Something that’s interesting here is that Bet365 actually offered employees from Gibraltar an option. While 80 percent of their staff there was being let go, those employees were given the option to relocate over to the Malta offices if they so desired. That goes to show that Bet365 cared enough to want to keep the same people, and they were operating within the parameters they were given to offer the best that they could considering the circumstances.
There’s no telling how many employees will take them up on that offer, but we imagine that at least some of them will. There are other gambling companies to work for in Gibraltar where their experience would likely be valued, but the fact of the matter is that other companies might be facing the same types of issues, so it’s unclear how much room they’ll really have to just get another position with a different company without having to move.
Effects of Brexit on the Online Gambling World
As you can see from the above, there are some serious effects happening to the online gambling world regarding individuals working in Gibraltar, but there are other issues that could come up with other locations as well.
One thing that complicates the whole situation with Brexit and the online gambling industry is that the United Kingdom is one of the single most important jurisdictions for it in the world. A UK license means a tremendous amount for any company, but now, we’re going to see some things change in terms of how players from other countries can get in on the action with UK-licensed sites and other aspects of the situation, and a lot will be up in the air until we get some clarity.