'Risky' business: Bookmaker Rhino Bet closes UK operations

RhinoBet

Rhino Bet — a UK-based online sports betting platform — has announced that it will shut its services, this week, on Wednesday 26 March 2025. 

The firm revealed its closure in an email sent to registered players. Within the message, Rhino Bet detailed that it “was not an easy decision” to exit the UK market – with its departure highlighting the challenges faced by modern operators. 

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All unsettled ante and ante-post bets shall be voided on the date of the brand’s withdrawal from Great Britain. Users may withdraw funds up to 26 April, as per an official statement on the website:

“We regret to inform you that Rhino Bet will cease operations on 26 March 2025, please withdraw any remaining balance before 26 April 2025.”

Founded in 2020, amid a global pandemic, Rhino Bet understood the hurdles that were waiting ahead. Yet, the operator maintained its poise throughout its tenure on the British Isles – acknowledging that “risk is just part of being a bookmaker.”

Despite a resolute approach to business, Rhino Bet’s bid to “champion innovation” in the modern market ultimately fell short of the mark. 

The entity is just one of many in this regard – as the UK gambling industry has seen former stalwarts, like Mansion Bet, Mr Green and Novibet, surrender their respective licences. 

Core to Rhino Bet’s UK operations was a plan to engage in strategic sports partnerships. A sponsorship deal with football club, Leyton Orient, and a contract with horse racing jockey, Henry Brooke, represented successful attempts to enter niche arenas. 

Additional forays involved iGaming ventures – with bingo and slots verticals setting the foundations for the website’s fledgling casino product. 

However, competition with national titans — such as Sky Vegas, bet365, Paddy Power and Betfair — has seen Rhino Bet fall out of favour among punters. The result is a steady revenue decline and, ultimately, the demise of the platform.

News of the Playbook Gaming-owned entity’s farewell from the UK comes at a pivotal moment for the country’s online gambling scene. From the end of March through to October, three important regulatory alterations will go live:

• 31 March 2025: The implementation of the gambling levy which will remove the obligatory annual financial commitment from operators which goes towards problem gambling treatment, research and prevention organisations.
• 1 May 2025: A new law stipulating that remote gambling businesses must “provide customers with options to control the marketing they wish to receive” comes into force. Further, maximum slot limits will be added during this time period (May & April) - for those under and over 25.
• 31 October 2025: Revamped rules related to customer funds in the event of operator insolvency are enforced.

Also hitting iGaming providers on 31 October is a refreshed approach to deposit limits. From this date, operators must prompt users to apply a maximum cap on the amount of money that may be deposited during a specified period.

Although these new-look permutations will not affect Rhino Bet due to the operator shutting its UK leg, consumers looking to switch to alternative brands will notice these changes over the next several months.