PalaceBet Closes Down
When Sun International acquired the Peermont Group and its assets at the end of 2023 this deal also included Peermont’s online sports betting and live games platform palacebet.co.za. Now, just 4 month later, the company has made the decision to close PalaceBet with immediate effect.
The closure might come as a surprise to PalaceBet players who enjoyed the platform’s offering over the past years. Therefore this article covers everything you need to know about the closing down and what steps to take if you are a PalaceBet player.
PalaceBet Shutting Down: What You Need to Know
The closure of PalaceBet starts swiftly. and was just announced on palacebet.co.za.
Closure Timeline
As of midnight on Tuesday, 16 April 2024 the platform will no longer accept any new registrations and also no further deposits on current accounts. Today marks therefore the beginning of the wind-down process for PalaceBet.
Existing player accounts and funds
Existing PalaceBet players have until Monday, 29 April 2024 to access and manage their accounts and funds. So, don’t panic. We nevertheless recommend that you log into your PalaceBet account as quickly as possible to assess any balance.
If you have a positive money balance in your account, you can still place bets until 29 April 2024. Of course you can also straight away withdraw any funds until 29 April 2024. It’s crucial that you ensure that your FICA documentation is up to date to guarantee speedy transfers during this period.
After 29 April 2024, all open bonuses will be cancelled, and PalaceBet will cease accepting any further bets. Additionally, for sports betting, any unresolved bets will be cancelled, and funds will be refunded to users.
Support and Contact Information
Are you a PalaceBet player and have any queries or concerns? You can direct all your questions to support@palacebet.co.za. The team is available from 09:00 to 18:00 daily.
Alternative Bookies
While the closure comes as sad and disappointing news for loyal PalaceBet players, Peermont acknowledges the loyalty and enthusiasm of its player base and extends its thanks for their participation. We are also very sad that PalaceBet closes down as we liked betting with them. However, the news didn’t come too surprisingly as often mergers & acquisitions go align with cost savings and operational changes. Our thoughts are also with all employees who are affected by the closure.
As PalaceBet prepares to conclude its operations and closes down, we encourage all players to take appropriate steps to manage their accounts and funds before the specified deadlines.
Are you a PalaceBet player and are now looking for a new betting and casino site? You might want to switch over to SunBet or alternatively consider one of the best betting sites in South Africa. The below are currently our TOP 5 and might be a good option for you:
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PalaceBet offered you both sports betting as well as casino games entertainment. Therefore 10bet, Hollywoodbets as well as Supabets could be good alternatives. Of course there is also newcomer SuperSportBET.
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