Bet Bull betting exchange closes

The company announced its withdrawal, which it said was necessary in order to streamline business and focus on its core retail betting markets in Germany and Spain.

“We no longer see exchange betting as part of our core business,” said Simon Bold, director of Betbull Holding, in a company statement. “We strongly believe in the durability of the retail model and see great potential for growth in the European markets.”

Mr. Bold said that the company will give attention to Germany -- where he said Betbull has achieved sustained growth and healthy margins -- as well as Madrid, which Betbull gained access to last October.