Day: 13 June 2019

Another online gambling operator will be forced to pay a monetary fine imposed by the UK Gambling Commission (UKGC) due to failures to identify gambling-related harm and lack of prevention for money laundering. The main gambling regulator of the British gambling sector launched an investigation after it received reports that Platinum Gaming allowed a convicted fraudster to spend a total amount of £629,420. During the enquiries, the Commission learned that the deposits the customer made were so high and losses so big that Platinum Gaming should have considered imposing some…

The UK Government’s crackdown on fixed-odds betting terminals (FOBTs) has resulted in increased losses for the British bookmaker Betfred. The company revealed that its losses have risen to over £40 million due to the stricter rules which the country’s authorities had imposed on local bookmakers. Although the report covers the twelve-month period ending in September 2018 and the official reduction in the machines’ maximum stakes happened in April 2019, the gambling operator claims suffered the loss due to exceptional costs estimated at £119.6 million. According to the announcement made by…