Placebet
Placebet is an online gambling brand operated by ProgressPlay Limited. The operator has a history of serious regulatory issues, including a £1 million fine from the UK's Gambling Commission for safety and anti-money laundering failures.
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About
Placebet is a UK-facing gambling website operated by ProgressPlay Limited. The operator has held a UK licence since 1 November 2014, allowing it to offer services to customers in Great Britain.
The website for Placebet states that it operates legally and adheres to strict consumer protection standards. However, the operator behind the brand, ProgressPlay Limited, has faced significant regulatory action for failing to meet those exact standards. This history is a key factor for any consumer considering using this site.
Features & Offerings
Incentives
According to their website (checked 21 Feb 2026):
Welcome Offers
New players get a free bet after making a first deposit, with a low wagering requirement that makes it relatively straightforward to use.
Conditions Explained
To get the free bet, you need to deposit a minimum of £10. The wagering requirement is 1x, which means you only need to bet the winnings from your free bet once before you can withdraw. The free bet stake itself isn't returned if it wins. There's a withdrawal cap of £200, so even if your free bet wins big, you can only take out up to £200. The free bet expires after 7 days, so don't wait too long to use it. Skrill and Neteller deposits don't qualify, and the offer only covers a limited number of sports and casino brands within the network.
Ongoing Promotions
Placebet runs a range of sport-specific cashback offers alongside an accumulator boost and occasional event-based free bets, making it more geared towards sports bettors than casino players.
EPLCExpires 21 Feb 2026ACEExpires 21 Feb 2026CHAMPIONSExpires 25 Feb 2026FIGHTExpires 21 Feb 2026BAULKExpires 21 Feb 2026GOALExpires 21 Feb 2026Conditions Explained
The cashback offers (for football, tennis, boxing, rugby, and snooker) each require a promo code and are restricted to bets on that specific sport. The Premier League cashback is capped at £500 back on losses. Skrill and Neteller deposits are excluded from all cashback promotions. The Acca Super Boost applies automatically to qualifying accumulator bets with no opt-in needed, and winnings are capped at £10,000. The UEFA Champions League free bet requires a minimum £25 deposit using the promo code CHAMPIONS and must be used on specific Champions League events. All active bonuses are cancelled if you request a withdrawal before meeting any conditions.
Can You Trust Placebet?
Positive Signals
- Holds an active UKGC licence
- Domain registered since 2004
Concerns
- Operator fined £1 million in 2025 for safety failures
- Breaches related to anti-money laundering and social responsibility
- Operator trust grade is 'F' due to regulatory action
UKGC Licence Status
The operator, ProgressPlay Limited, holds active UKGC licences for several activities. These include a Remote Casino licence for online slots and table games, a Remote Bingo licence, and a General Betting Standard (Real Event) licence for sports betting. All licences are currently active.
If you have a complaint about Placebet that you can't resolve with them directly, you can use an Alternative Dispute Resolution (ADR) service. The operator is registered with eCOGRA and IBAS, which are independent bodies that handle consumer disputes.
Regulatory Actions
On 9 May 2025, the Gambling Commission fined ProgressPlay Limited £1 million. The regulator found the company breached rules designed to prevent money laundering and to protect vulnerable customers. In addition to the fine, the operator received a formal warning and must have a third-party audit to check its procedures.
Site Assessment
Licensed Operator
ProgressPlay Limited is the company that holds the licence and is responsible for Placebet. It has been licensed in the UK for over a decade, first receiving its licence on 1 November 2014.
Despite its long history, the company has a poor regulatory record. The recent £1 million penalty for serious failings shows significant issues with its compliance and customer protection measures. This action has resulted in a very low trust score for the operator.
Other Sites by ProgressPlay Limited
ProgressPlay Limited operates a large network of other gambling websites. Some of these include BetStorm, 777Tigers, and Betmorph Casino.
