Bet365, one of the largest online gambling companies in the world, has agreed to pay more than £580,000 in settlement with the U.K. Gambling Commission. The settlement comes after the commission found that the company had failed to properly handle customers who showed signs of problem gambling.
The investigation by the Gambling Commission found that bet365 had allowed a customer to deposit £760,000 over a period of two years, despite showing signs of problem gambling. The customer had also been allowed to place bets of up to £50,000 per day on the site. In addition, the investigation found that bet365 had failed to carry out proper checks on the customer’s source of funds.
The settlement requires bet365 to pay £544,158 to the national responsible gambling charity GambleAware, and a further £33,000 to cover the commission’s investigation costs. The company has also committed to making improvements to its responsible gambling policies and procedures.
In a statement, the U.K. Gambling Commission said that it is essential for gambling operators to have effective policies and procedures in place to protect customers who are at risk of problem gambling. The commission also stressed the importance of operators carrying out proper checks on customers’ source of funds to prevent money laundering and other criminal activity.
Bet365 has said that it takes its responsibilities as a gambling operator seriously and is committed to working with the Gambling Commission to ensure that its customers are protected. The company has also said that it has already made improvements to its responsible gambling policies and procedures as a result of the investigation.
The settlement with bet365 highlights the importance of responsible gambling in the online gambling industry. With more and more people turning to online gambling, it is essential for operators to have effective policies in place to protect vulnerable customers. The U.K. Gambling Commission will continue to monitor operators to ensure that they are meeting their responsibilities and taking action where necessary to protect customers.
