UK betting companies paid £19.7m in fines last year

UK betting operators paid a record £19.7m in penalty fees last year as regulators toughened stance against those failing to adequately deal with problem gamblers and money laundering.

A UK Gambling Commission report announced the regulator brought fines against nine operators in the 12 month period. Overall gambling fines increased from £18.4m handed out in 2018 and £1.7m in 2017.

Online operator Daub Alderney paid the largest single amount, £7.1m. This included failure to follow rules relating to money laundering and vulnerable player protection.

The Treasury received £6.7m of the total, with the rest going to compensation for affected parties.

The results were released in the Commission‘s Raising Standards for Consumer Enforcement Report 18/19.

The commission carried out more than 160 investigations in the period.

The Gambling Commission’s chief executive Neil McArthur said:

“I want gambling consumers in Britain to be able to enjoy the fairest and safest gambling in the world.

“As the report shows, we will be tough when we find operators bending the rules or failing to meet our expectations, but we also want to try and minimise the need for such action by providing advice, a programme of support material and compliance activity to help operators get things right in the first place.”