2020_11_betinvest.gif
2020_11_betinvest.gif
2020_11_betinvest.gif
CLOSE
× Gambling News In-Depth iGaming Calendar Connections GI Friday Trafficology GI Magazine GGA 2020 AffiliateCon
NEWS 31 July 2019

Ladbrokes Coral Group issued £5.9m fine for safeguard failings

By Nathan Joyes

Ladbrokes Coral Group has been ordered to pay £5.9m ($7.2m) for failing to put effective safeguards in place to prevent its players from potential gambling harm and money laundering.

The Gambling Commission ran its investigation into Ladbrokes Coral between November 2014 and October 2017.

The Commission found Ladbrokes had failed to put an intervention in place when one of its players lost £98,000 across two-and-a-half-years, where the player had a total of 460 deposits declined, and the player had asked for the operator to stop sending promotions.

Ladbrokes also failed to show any evidence it had carried out social responsibility interactions with a player who had deposited more than £140,000 in a four-month period.

A  Coral player spent £1.5m over two years and 10 months, and the operator failed to ask the customer for evidence of where their funds were coming from.

Richard Watson, Gambling Commission Executive Director, said: “Decision-makers at gambling businesses need to invest in the welfare of their customers and the integrity of money being gambled with.

“These systemic failings at a large operator which resulted in consumers being harmed and stolen money flowing through the business and this is unacceptable.”

 

RELATED TAGS: Online | Industry | Sports Betting | Legal & Regulatory | Financial
2020_7_fsi.gif
GI FRIDAY: WEEKLY NEWSLETTER
THE GI HUDDLE PODCAST
NEW! #006 - LISTEN NOW
Gaming Industry Conferences (22:37)
#005 - LISTEN NOW
The role of gambling media (27:11)
#004 - LISTEN NOW
What is the role of a Gambling regulator? (29:09)
#003
The Future of Gambling Sponsorship in Sport (30:50)
MUST READ
IN-DEPTH 16 March 2020
Is there an ideal RTP rate?
READ MORE
PREMIUM CONNECTIONS
Systems and Software
Efbet
VIEW PROFILE
Affiliate
1xPartners
VIEW PROFILE
Systems and Software
Newgioco Group
VIEW PROFILE
Legal and Jurisdictions
Digital Isle of Man
VIEW PROFILE
PR and Marketing
ActiveWins
VIEW PROFILE
Industry Awards
Global Gaming Awards
VIEW PROFILE
Systems and Software
BetConstruct
VIEW PROFILE
Systems and Software
NSoft
VIEW PROFILE
Payments
Zimpler
VIEW PROFILE
Systems and Software
BBIN
VIEW PROFILE