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32Red fined for sole problem gambler and money laundering charges

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The UK’s Gambling Commission has slapped a penalty of £2m on online gambling operator 32Red for its failure to protect a problem gambler. The customer was allowed to deposit £758,000 with the firm. There were no money laundering or social responsibility checks.

The Gambling Commission emphasised that penalty was also for failing to prevent money laundering.

Kindred, the owner of 32Red, accepted the penalty and initiated action to improve its processes.

The Gambling Commission’s enquiry looked into 32Red’s dealings with the customer between November 2014 and April 2017 during which time there were at least 22 incidents indicating the customer was a problem gambler.

“Instead of checking on the welfare of a customer displaying problem gambling behaviour, 32Red encouraged the customer to gamble more – this is the exact opposite of what they are supposed to be doing,” said Richard Watson, the commission’s executive director said.

“Operators must take action when they spot signs of problem gambling and should be carefully reviewing all the customers they are having a high level of contact with.”

Bonuses offered

There had also been previous incidents highlighting the gambler’s problems but instead of scrutinising these, the customer was offered bonuses to carry on placing bets.

The Gambling Commission said 32Red should have reviewed the customer’s accounts in August 2016 but one was only conducted in January 2017, when a win of more than £1m was instantly gambled again.

The customer took five weeks to respond to requests about their financial position and failed to offer support when the information was provided, the commission said.

The payslip and report of commission for work was “not credible and showed volatility in receipted income”, according to the Gambling Commission.

These showed a monthly net income of £13,000 but average monthly deposits were in excess of £45,000. The customer’s average monthly net salary was actually £2,150.

The £2m penalty includes £709,046 divestment of the financial gain, a £1.3m payment to be used on the National Responsible Gambling Strategy, intended to tackle problem gambling, and £15,000 towards the cost of the investigation.

Asked if the customer had stolen the money to gamble, the Gambling Commission spokesman said: “The source of the customer’s wealth was not known to 32Red because they failed to fulfil their anti-money laundering obligations. We cannot comment on any other proceedings that may be active.”

The largest penalty imposed by the Gambling Commission was the £7.8m penalty on betting firm 888 in August 2017.

Source: BBC

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George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Integration of EGT Global Jackpot with Winbet and Club King Marks Great Success

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9-9 Integration of EGT Global Jackpot with Winbet and Club King Marks Great SuccessReading Time: 1 minute

 

The EGT Global Jackpot’s integration with Winbet and Club King has achieved success through offering entertainment and winnings for both operators and players.

The operators’ success and players’ entertainment are always the core objectives of EGT sales, development and production teams. When innovation joins these approaches, EGT solutions are the reliable choices for winning businesses.

EGT supports the operators to make proposals to its customers they couldn’t refuse, with the integration of the EGT Global Jackpot into their gaming halls. Global Jackpot is developed to connect all slot machines and any type of roulette from all locations of operators across the country. Thus, the total bet generates the possibility of higher winnings compared to those offered by the local jackpots.

At Winbet, the Global Jackpot has been functional since March this year and has brought multiple winnings to the luckiest players. Recently, Club King has also integrated the Global Jackpot in favour of top entertainment and winnings for both operators and players.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Integration of EGT Global Jackpot with Winbet and Club King Marks Great Success

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New York State Lottery Reports Record Revenues for the 2018 Fiscal Year

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8-9 New York State Lottery Reports Record Revenues for the 2018 Fiscal YearReading Time: 1 minute

 

The New York Lottery has recorded $8.2 billion in sales for the state fiscal year that ended in March 31, 2019. That includes sales from Powerball, Jackpot, Mega Millions, Scratch Off, Quick Draw and other games, plus revenues generated by the state’s licensed video lottery locations.

The video lottery net win for the 2018-2019 fiscal year was $2.08 billion, third largest in the world behind two Italian lottery operators. The combined sales and net win earnings for the last fiscal year are a new record for the New York Lottery. The New York Lottery generated $3.47 billion in aid designated to support the state’s schools.

The lottery revenues are distributed to school districts according to the same formula used for state aid. A larger, poorer district will receive a higher percentage than a smaller, more affluent one. Lottery contributions account for 13% of all state aid to education for 2018-2019.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: New York State Lottery Reports Record Revenues for the 2018 Fiscal Year

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Spillemyndigheden Introduces Whistleblower Scheme

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Spillemyndigheden, the Danish industry regulator, has launched a new whistleblower scheme for the employees of gambling operators who wish to report evidence of money laundering.

Spillemyndigheden has detailed that employees can report a company’s violation or potential violation of the anti-money laundering legislation to the regulator via a dedicated, anonymous contact form which will then trigger a legal investigation. All submissions will be encrypted to ensure that submissions are secure.

In April, Spillemyndigheden has blocked access to 25 gambling websites after petitioning the country’s telecommunications providers. Danish internet providers have now been obliged to block access to ten igaming sites, in addition to 15 skin betting websites.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Spillemyndigheden Introduces Whistleblower Scheme

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