Bet365 pay the price for Regulatory Failures
By Dave Sawyer, Last updated Apr 4, 2024
Bet365 has agreed to pay a total of £582,120 due to shortcomings in its anti-money laundering (AML) and social responsibility practices within its online operations.
The settlement will be divided between two of Bet365’s licensed entities. Hillside (UK Gaming) ENC, which holds the license for Bet365’s bingo and casino offerings, will pay £343,035, while Hillside (UK Sports) ENC, the entity licensed to provide betting services, will contribute £239,085.
As part of a regulatory agreement with the UK Gambling Commission, the entire sum of £582,120 will be allocated to socially responsible initiatives. These initiatives aim to mitigate the potential negative impacts of gambling on individuals and society.
The Gambling Commission uncovered these deficiencies during a compliance assessment conducted in March 2022, prompting the regulatory action against Bet365.
Kay Roberts, Executive Director of Operations at the UKGC said: “The policy and procedural failings may not have been as severe as those at other gambling businesses in recent years but they were failings nonetheless.”
“We expect high standards from operators in terms of keeping gambling safe, fair and crime-free, and will always take action to correct any failings. This operator is very aware that a repeat of these failings will result is escalating regulatory action.”
Dave has been involved in the Online Gambling industry for 20 odd years now. With experience working for an operator based in Gibraltar, where he headed up the IT team at Ladbrokes, to running his own iGaming affiliate websites until 2019.
Dave now writes for Casinomeister and sister site Casino Gazette. You may also see him on the forum from time to time, where he goes by the handle Webzcas.
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