Day: 10 October 2018

UKGC Imposes £500,000 Fine on Rank Group Following Failures in Customer Protection Rules Compliance

Wed 10 Oct 2018 12.34 Daniel Williams
UKGC Imposes £500,000 Fine on Rank Group Following Failures in Customer Protection Rules Compliance

The UK-based gambling operator Rank Group has felt a backlash from the UK Gambling Commission (UKGC) for its failure to comply with the regulatory body’s customer protection rules. The company will be forced to pay £500,000 for three major failures in terms of ensuring protection for players who suffer from problem gambling. An investigation held by the Commission showed that the company failed to interact with a customer who was demonstrating problem gambling behaviour, reached him during a period of self-exclusion and also failed to comply with the rules under…

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Paddy Power Betfair Says Upcoming Betting Tax Increase Would Hit It Hard

Wed 10 Oct 2018 7.53 Olivia Cole
Paddy Power Betfair Says Upcoming Betting Tax Increase Would Hit It Hard

The Irish bookmaker Paddy Power Betfair revealed that the proposed betting tax increase could be a massive blow for the company, as it could cost it approximately €23 million on an annual basis. The company already suffered a hit, as over £250 million was wiped off the value of the company following the announcement of the Irish Government that it plans to double betting taxes from 1% to 2%. According to estimates provided by Paddy Power Betfair, which is currently the biggest bookmaker in the region, such a step would…

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