Coral’s popular ‘Bet and Get’ free bet club is to close on the 2nd February a statement on the company’s website has announced.
The promotion’s final qualifying period will run from Monday 27th January to midnight on the 1st February, with the final free bets generated from this credited on Sunday 2nd February.
Free bet clubs are a promotion for existing customers and generally involve placing a number of qualifying bets in a set time frame, usually a week, in order to gain a free bet. It seems Coral are moving away from this type of promotion to focus on other offerings.
Their promotion page states:
“The Bet & Get Club will be closing its doors on Sunday 2nd February and the final date for qualification is Saturday 1st February! Until then the Club will run as usual. But don’t worry, we have plenty more to offer…
“All good things must come to an end, but sometimes they get replaced with something even better. While we’re sad to announce that we’ll be closing the Bet & Get Club, you can be sure that we won’t stop looking for new ways to reward our customers, joining our fantastic existing offers,”
Why is the Club Closing Its Doors?
Although no official reason has been given for closing the promotion, it seems Coral want to take their offerings to existing customers in a slightly different direction.
As part of the GVC Holdings group, which includes another betting giant in Ladbrokes, the company may want to inject some added impetus into their online offering with high street betting shops continuing to feel the pinch following the £2 stake limit implementation on their FOBT machines.
The group recently posted their latest trading results and whilst online growth was extremely healthy, net gaming revenue (NGR) was up 13% in 2019, this slowed in the final quarter with growth of just 9% between October and December.
GVC will be looking to build on this with the high street continuing to suffer significant challenges. Although beating their previous forecasts, the UK retail sector of the business shrank by 12% bringing total NGR growth down to 2% in 2019.
“The Group’s operational and financial performance in 2019 has been excellent with the strong momentum reported at Q3 continuing throughout Q4.
“The performance continues to be driven by our industry-leading technology, products, brands, marketing capability, people and local execution, all of which is underpinned by our determination to spearhead the industry’s approach to responsible gaming.
“As the Group continues to deliver the opportunities provided by both the Ladbrokes Coral integration and our sports betting joint-venture in the US, the Board is confident that the Group is well placed for a successful 2020.”
Other Free Bet Clubs Are Available
Although many customers will be unmoved by the announcement, there will be those that are disappointed by the news.
But, fear not, this is not the end of the free bet club, with a number of other bookies offering a similar promotion to those who wish to take advantage.