Online betting sites which are regulated under European Union regulations.
The betting site provider said they were forced to close down the site because of legal action filed by the regulator
The site which was also the largest bookmaker in the EU has now closed down
The site operator said: ‘Since we decided to close down this gambling site, we have taken legal action and received a huge loss to the companies we partner with.
‘We also had to close down the site before it reached its final stages because the operators and investors we have in its industry were concerned that it could be targeted.’
The site had come under increasing pressure in the past few months as more and more bookmakers are dropping betting on horse racing.
But betting industry insiders say that horse racing has continued to sell well despite a decline in the traditional bookies offering it in the last few months.
A number of horse racing companies have already quit the betting industry, while others are trying to set up shop in alternative markets like online poker in the UK or South Africa.
The European Commission said that they were looking into the closure of such “serious illegal operations”, and a further inquiry into the bookmakers was underway.