Sky Bet fined £1m

[steveh35]

Sky Bet has been fined £1m for failing to protect customers who had self excluded.

About 50,000 self-excluded customers received marketing material by email, mobile text or a push notification within a mobile app, and 36,748 did not have their funds returned to them when they closed their account.

Old / Expired Link

 

[colinsunderland]

Load of shit, £1 million is to Skybet what fining me 10p would be.

 

[Jd666]

Load of shit, £1 million is to Skybet what fining me 10p would be.

Like a 10p Ted scratchcard

 

[KasinoKing]

Couldn't have happened to a bigger bunch of b'stards.

Shame they couldn't get fined for STEALING from their affiliates too...

KK

 

[Vibroverb]

What was surprising to me in this is how far back Skybet were investigated, I think from 2014...
That could set a bad precedent to companies who had dodgier business practices back in 2014, which by today's regulation standards, could mean quite a few.
Wouldn't be surprised to hear more companies were not taking it as serious as they are nowdays

 

[goatwack]

Yeah it does seem like certain casinos are being made an example of, when in reality most if not all have had less than impeccable attitudes towards Responsible Gambling. You could find fault with all of them with their blasé approach, fact is it should have been addressed at the time.....but wasn't. It was overlooked by all and sundry.

Not sure what retroactive punishment is going to achieve, other than lining the UKGC's pockets.

 

[pinnit2014]

Hope it doesn’t lead to sky Vegas cutting back on their 5 free spins in a shitty blueprint game and a 10p football scratch card.

That’ll tip me.

 

[goatwack]

Hope it doesn’t lead to sky Vegas cutting back on their 5 free spins in a shitty blueprint game and a 10p football scratch card.

That’ll tip me.

I'm afraid all good things come to an end

 

[SpinUk]

For 50,000 offence its a paltry fine. £20 a head. Of those 50,000 how many gambled again elsewhere. If they made it £10million your can guarantee you wouldnt find a UK bookmaker ever making this mistake again.

 

[colinsunderland]

For 50,000 offence its a paltry fine. £20 a head. Of those 50,000 how many gambled again elsewhere. If they made it £10million your can guarantee you wouldnt find a UK bookmaker ever making this mistake again.

I can guarantee even £10 million wouldn't affect Skybet. I replied to the UKGC's tweet saying as much and saying they should suspend the license for 3 months, see how many of these 'accidental mistakes' happen if casinos/bookmakers know they will lose ALL income for 3 months.

 

[goatwack]

I can guarantee even £10 million wouldn't affect Skybet. I replied to the UKGC's tweet saying as much and saying they should suspend the license for 3 months, see how many of these 'accidental mistakes' happen if casinos/bookmakers know they will lose ALL income for 3 months.

I'm sure there's a reasoning behind the minimal fines, namely to deter casinos from packing up and calling it a day or leaving these shores.

The UKGC needs its cash cows

 

[SpinUk]

These are the profits from last year:

Published: 04:12Wednesday 08 November 2017
Sky Betting and Gaming picked up an extra half a million customers this year as its revenue soared by 38 per cent to £516m, with its boss saying it would be targeting further market share.

The Leeds-based tech giant saw its customer numbers increase by 31 per cent to 2.6m, up from 1.95m the year prior. Its profit before tax grew by 38 per cent to £146m in the period up to June 30, compared to £105m in 2016.
—————————————————
So less than 1% fine.

Compare that to HSBC fine of £6billion for money laundering offences in mexico - that was 25% of its profit for the year

 

[TheAddict]

Hope it doesn’t lead to sky Vegas cutting back on their 5 free spins in a shitty blueprint game and a 10p football scratch card.

That’ll tip me.

Anyone ever won n e fink on that footy frenzy game? Only about 8 free shots but all losers, except one which awarded another go at losing