Betfair closing down in Denmark. What now?

[misel]

I just discovered that Betfair is closing their business in Denmark at 18. November.

They have been in Denmark for the last 18 years, but Wednesday Danish customers received an email, stating Betfair will be closing down in a week, with the explanation "business reasons".

That hit me as a shock. I definitely didn't see that coming! And especially only with a week's notice.

So my question is: What are my fellow Danish traders going to do now?

From what I can gather, Betfair is the only trading platform with a Danish gambling licence, so it looks like the whole trading niche for Danes, is pretty much dead now.

And even if another provider decides to enter the Danish market, there's always the issue of low liquidity in the markets on smaller platforms. We'll all be fighting over pennies and complaining about huge spreads.

I've been trading since 2008, using it as an extra source of income on the side. I never wanted to go full time, as I love my job as a musician. And the working hours as a musician fits the trading hours beautifully.

I also didn't want the stress and worry of being forces to make profits on the markets month after month, in order to keep my house and get food on the table. There are better ways for this, in my opinion.

But now I'm sitting here with all this knowledge and experience that I've spent countless hours acquiring and refining over the years, only for it to suddenly become completely useless, and see it go straight down the toilet.

I've got a few ideas of my own about what to do next, but I'd really like to hear what other Danish traders are thinking too. Or in fact, if anybody else have some input, I would love to hear from you.

I've previously considered a transition from sports trading to stock and forex trading, but never get that far. Maybe now is the time.

But at least 50% of my trading knowledge, strategies and experience, are focused around reading inplay horse racing and tennis, so these skills will be more or less useless in the future for me.

I also considered starting teaching/coahing. I considered it already in the past, but always ended up dismissing it, as felt I would risk to give my edge away. But at this point it seems like I have nothing to lose, as I already going to lose what there is to lose.

Any input and feeback is appreciated.

Thank you
Jean

[Kai]

(Maybe mods can move this post to the other Denmark thread or merge them?)

Yep, it sucks, but not much of a surprise at this point. It's been going on for years all over Europe and there have been countless similar threads.

That's why some traders move around or domicile their accounts in other countries, I think Malta is the best choice for that long term, as the gambling capital of Europe.

The UK seems to have gone downhill since Brexit sadly, the affordability checks can be a bit of a nightmare.

[jamesedwards]

I would move to Ireland or Malta ahead of the UK any day.

Better quality of life and lower legislative barriers to entry for pro gamblers.

[misel]

Thank you guys, I appreciate it.

I hear what you say, so I think I will do some researh around your suggestions.

(And sorry for the repetiton of the subject. I did use the forum search function, but nothing around this topic with Denmark came up)

Thank you.

[Kai]

Thank you guys, I appreciate it.

I hear what you say, so I think I will do some researh around your suggestions.

Hope this helps, I left these for future reference : viewtopic.php?p=369419#p369419

Honestly it could be worse for Denmark, at least you've got arguably the best regulated framework in EU, rather than putting a country wide ban on betting like Brazil did recently.

There's a massive betting wave in that country so it's been an absolute shitshow that's been dragging out in the courts. They even had an actual local alternative exchange that some of their big traders promoted.

I don't know much more than that but I know they have some cracking traders, and people have been left scrambling and scratching their heads, as you can imagine.

Maybe there's some useful insight on one of their popular forums, in case you need it : https://www.academiadasapostasbrasil.com/forum