Online gambling operators fined £ 25 million

Online gambling regulators imposed over £ 25 million in fines on five online gambling operators in the first quarter of 2020 from January to March. This is a significant increase over the previous year’s fines. Online Gambling Compliance Tracking System tracked the fines that were issued to iGaming operators for the full year of 2019, totaling £ 16 million.
The first fine this year reportedly was issued in January by the Malta Gambling Authority – a £ 2m fine for servicing unauthorized transactions received by Blackrock Media. GVC Australia was fined on Valentine’s Day – £ 106,000 after its two brands, Ladbrokes and Neds, were found guilty of offering bet bonuses to people opening new gambling accounts – contrary to Australian law.
Mr Green received a $ 3 million fine in the same month. pounds sterling from the UK Gambling Commission for systemic disruptions in its anti-money laundering and gambling efforts. And in March, the UKGC issued a record fine for Betway in the amount of 11.6 million. pounds sterling in compensation for stealing money from VIP clients, some of whom showed clear signs of gambling addiction.
The fifth regulator fine for the first quarter of this year was issued to Kindred Group when Spooniker Ltd, a subsidiary of the Kindred Group, received a warning and a fine of SEK 100 million (£ 8.5 million) for the right to offer customers financial incentives that violate new gambling legislation.

You might also like