1. By continuing to use the site, you agree to the use of cookies .This website or its third-party tools use cookies, which are necessary to its functioning and required to achieve the purposes illustrated in the cookie policy.Find out more.
    Dismiss Notice
  2. Follow Casinomeister on Twitter | Facebook | YouTube | Casinomeister.us US Residents Click here! |  Svenska Svenska | 
Dismiss Notice
REGISTER NOW!! Why? Because you can't do diddly squat without having been registered!

At the moment you have limited access to view most discussions: you can't make contact with thousands of fellow players, affiliates, casino reps, and all sorts of other riff-raff.

Registration is fast, simple and absolutely free so please, join Casinomeister here!

UK Gambling Commission imposes £7.8 million penalty on 888

Discussion in 'Casino Industry Discussion' started by GrandMaster, Aug 31, 2017.

    Aug 31, 2017
  1. GrandMaster

    GrandMaster Ueber Meister CAG

    Occupation:
    Mathematician by day, online gambler by night.
    Location:
    UK
    Self-excluded customers were still able to gamble.

    You must register/login in order to see the link.
     
  2. Aug 31, 2017
  3. slotter999

    slotter999 Senior Member

    Occupation:
    Player
    Location:
    UK
    Here is an interesting exert from the guardian article on the same topic: -

    “The 888 sanction package will ensure those affected don’t lose out, that the operator pays the price for its failings via a sum that will go to tackling gambling-related harm, and that independent assurance will be given to see that lessons are learnt.”

    The £7.8m includes repayment of the £3.5m deposits made by self-excluded customers and compensation of £62,000 to the employer from whom money was stolen.

    Based on the above we can conclude that the UKGC clearly believe that deposits should be returned to self excluded customers. So when will they turn their attention to the other rogues out there I wonder?
     
  4. Aug 31, 2017
  5. dunover

    dunover Unofficial T&C's Editor CAG PABnononaccred PABnonaccred PABinit mm3 webmeister

    Occupation:
    International Money Launderer
    Location:
    the bus shelter, opposite GCHQ Benhall
    Everymatrix will be next. :thumbsup:
     
  6. Aug 31, 2017
  7. maxd

    maxd Complaints (PAB) Manager Staff Member

    Occupation:
    The PAB Guy
    Location:
    Saltirelandia
    FTR, that Guardian article: You must register/login in order to see the link.
     
  8. Aug 31, 2017
  9. ReggieMac

    ReggieMac Experienced Member

    Occupation:
    Senior Software Developer
    Location:
    UK
    Not intending to hijack this thread but I for one will now be pressing forward again with my complaint against 888 for confiscation of winnings as I am totally dissatisfied with the work that eCOGRA conducted on my case and will be approaching the UKGC whilst 888 are still in their line of sight. Myself and many, many others have had this horrible experience with 888 so it would be interesting to see what the UKGC would do if they suddenly received hundreds of additional complaints so soon after imposing this fine!
     
  10. Aug 31, 2017
  11. jetset

    jetset Ueber Meister CAG

    Occupation:
    Senior Partner, InfoPowa News Service
    Location:
    Earth
    It's remarkable that 888's share price on the small cap market went up almost 6 percent this morning despite the negative and widespread publicity on its record UKGC fine.

    That's partly due to the company's promotion to the FTSE 250 following a strong performance in its shares, which have jumped 21 percent in the past 12 months.

    There's also speculation that putting this issue behind them - albeit at a relatively high cost - and addressing the flaws in its systems actually makes the company a more attractive proposition for investors and M&A searchers.

    And other analysts have pointed out that losing its UK licence would have been a lot worse than the voluntary settlement via a fine.
     
  12. Sep 1, 2017
  13. Arch Stanton

    Arch Stanton Newbie member

    Location:
    UK
    They certainly should do. This is the clearest indication yet that when push comes to shove, the UKGC expect self exclusion to be properly operated and if a bookie or casino operator fails to insure it works they will have to return net deposits to the customers affected. This seems clear in the UKGC full statement on this case. They can't now revert to ambiguity and toothless policing of gambling operators they have adopted up until now.
     
  14. Sep 1, 2017
  15. DreamRJ

    DreamRJ Out of this world! MM webmeister

    Occupation:
    Gamble
    Location:
    RJVille UK
    Yeah i heard this too on the news. Good to finally see the UKGC acting. Hopefully this is a start to them helping people who fall victim to rogue casinos and giving fines to the rogue casinos that are ripping of UK players as well.
     
  16. Sep 1, 2017
  17. ReggieMac

    ReggieMac Experienced Member

    Occupation:
    Senior Software Developer
    Location:
    UK
    Taking away the licence is the only thing that would bring these rogues into line. Their voluntary fine is a drop in the ocean compared to what they would have lost by being excluded from the UK market.

    Until the UKGC do actually show a genuine willingness to revoke licences then these operators will keep pushing the boundaries and taking the slap on the wrist! :mad:
     

Share This Page