Starcom will not be taking part in the review, confirmed a spokeswoman for the agency, who added the following statement:
"We have had a great seven years working with the Betway team helping them to grow their brand and we wish them all the best for the future."
Betway is in the process of compiling a shortlist of potential media agencies with the assistance of AAR.
"We have grown significantly since our UK launch in 2012 and Starcom has been integral to getting us to this point in our journey," Betway chief executive Anthony Werkman, said. "We have ambitious plans for 2018 and beyond and feel it’s time to bring some fresh thinking to the account."
A decision is expected to be made by the end of February 2018.