Bet365 has to pay a fine of 678.722 euros to the UK Commission
The UK Gambling Commission (UKGC) has fined bet365, a UK gambling group, £582.120 (approximately €678.722). In March 2022, the UKGC had its eye on bet365 and found that the gambling company had gone a bit too wild. The inspection revealed that bet365 had interpreted the rules quite loosely, particularly when it came to online bingo, casinos and sports betting. Well, that cost them their wallet - a punishment that could have been much worse if they had gone even further!
So, one of their weaknesses was that they forgot to check customers for financial penalties before their first deployment. Instead of doing this properly, they relied on annual self-verification of customer documents - like someone who doesn't do their homework until the teacher is already in the classroom!
When it comes to their social responsibility, their customer interactions were more like a game of “hide and seek” – they didn’t really fit the needs of the players. Whether their risk assessment measures actually worked, or whether players even knew about them, was difficult to prove. It was like a message that was sent and never arrived!
Gambling meltdown: bet365 asked to pay for online misconduct!
Well, if you compare it to other penalties, bet365's fine is more like pocket money, at least that's what it says latest headlines. The reason for this? Well, even though bet365 aren't exactly the worst offenders, they've still done something that they'll have to pay a bit for - like a prank that didn't quite go through and is now giving you pocket money.
The UKGC's decision is not only a wink towards bet365, but also a warning to other gambling licensees like it Find out about video slots had to do their homework when it comes to money laundering and social responsibility. The UK Gambling Authority will continue to crack down to show companies who is in charge. Yes if they step out of line again, they will probably have to write an extra essay to ensure that gambling in the UK remains as safe and fair as a closely supervised cake baking competition!
According to Kay Roberts, executive director of operations at the UKGC, bet365's transgressions may not have been as serious as other gambling companies, but they were violations nonetheless.
Roberts went on to explain:
We set high standards for safe, fair and crime-free gambling and will always take action to correct any wrongdoings. This operator is well aware that a repetition of these mistakes will lead to tightening of regulatory measures.
