What Happened To STS? Closed To The UK From 16th January 2023
When STS decided to finally get a UK license in 2019 the move was met with some fanfare. This was not just some typically underfunded new white label brand, of which the UK has many, this is Poland’s largest bookie and by taking UK customers they enriched the market and offered users new choice compared to the old high street names and multi-billion pound companies that dominate the landscape.
Having been around since 2008 STS certainly knew a thing or two about bookmaking and their resources allowed them to provide offers, odds value, features and depth that could genuinely compete with the old British names. Customers seemed to really like STS, in particular those that wanted a deep book but also one that wasn’t so UK-focused. It came as a bit of a shock, therefore, when STS announced they would stop taking new UK customers on 16th January 2023, ahead of an exit from the market.
The reasons for this we will get into next but if you are an account holder reading this then the site will remain open for now to allow withdrawals as usual. If you are reading this after the UK site has closed you can get your funds back by contacting their support email (although this may take a bit longer than usual). The company are completely solvent and remain active in their other markets so there is no risk to your funds, although you will likely need to withdraw within a maximum of 12 months.
STS have not yet said when their site will fully closed but they will no longer take bets from 14th February onwards, although they have not yet said to what date advance bets will be honoured. If you have an ante-post bet due to settle after they close the UK site your stake will be refunded instead. Once they announce these dates we will update this page.
Record Revenues But STS Leave After 3 Years
It would be easy to take the narrative that the UK is competitive and saturated and not growing like other markets. Many brands have left in the past 3 years due to these challenges, effectively making loses they cannot sustain and so they have to exit or close down completely. This is absolutely not the case with STS who, in fact, announced record revenue of £868.4 million of late, up 4.2% on the previous year.
They had their most active Q4 in their history in 2022, which was helped a lot by the World Cup, but still they are obviously a very successful company. While most of those revenues came from their core European markets and their home market of Poland they were still very much making money in the UK.
Despite providing a very good betting site with a large account base, loyal customers and a growing following among punters that didn’t seem to be enough to keep them here. Yes, the UK was not as lucrative as other markets but they were still a success and growing, so why would they suddenly exit after announcing record revenues?
Well, despite their expansion they are still generating most of their revenue at home in Poland. The UK is a much harder place for them to grow and with new rules due in very soon it is likely the group would need to further invest to meet these. On this basis they decided now was an optimal time to say goodbye to the Brits after just over 3 years.
UK Loses Out As A Result
For quite a while now the UK gambling industry has been becoming more of a monopoly. With Entain (Coral, Ladbrokes, Gala, etc.), Flutter (Betfair, Paddy Power, Sky Bet, etc.) and massive independents like Betfred and bet365 now dominating the market. The resources these guys have make it hard for new brands to compete.
STS was one of the few new brands to come into the UK in the last decade that had enough experience and capital to rock that boat a little bit. Indeed, they did to a degree. They attracted a large following of customers that showed more loyalty than you usually get at a betting site. They provided a great option for those that wanted a big sportsbook but don’t want to bet with Entain, Flutter, etc.
They were particularly good in offering things that many UK customers do not usually get. The big brands discussed above were all born out of the UK and so they are biased to certain markets as a result. STS being Polish offered many more betting opportunities for European and other global markets that you couldn’t bet on, or only in a limited way, with the classic UK brands.
Therefore, their exit is certainly a loss to the UK and a benefit to those big names. The market is now less rich as a result and it is a real shame. Those that bet with STS will not be able to find an alternative that ticks the same boxes easily.
Will STS Come Back?
Unlikely, in the near future at least. Once they let their UK license lapse they would need to apply for a new one again if they want to accept UK customers.
If they did get a new license they would have to start again at zero customers too as this would be a different license to the last one. They are not going to throw away what is likely to be high six figures of UK accounts and then come back in a short period of time.
STS have decided to focus on their home market so at some point in the future they may dip their toes in the UK waters again. They will definitely wait to see the results of the new incoming legislation on the back of the white paper, that surely will be published soon.
Personally I think this is the last you will see of STS in the UK, which is a damned shame.
