NetBet hit with massive fine by UK Gambling Commission

NetBet Enterprises Limited, operator of NetBet.co.uk, will pay £650,000 and undergo an independent audit following a UK Gambling Commission investigation that uncovered significant anti-money laundering (AML) and social responsibility failures.

The Commission found that NetBet relied too heavily on financial triggers, allowing customers to gamble amounts disproportionate to their income, and failed to properly assess high-risk behaviours or third-party business relationships.

NetBet Enterprises risk assessment also neglected factors such as high-stakes play and customers from outside the United Kingdom. Many gambling operators in the UK, also have an international license, like Malta.

“This case highlights the serious consequences of failing to meet anti-money laundering and social responsibility obligations,” Gambling Commission Director of Enforcement John Pierce.

“We expect all operators to take note and ensure their systems are not only well-designed but are working effectively to protect consumers and to keep crime out of gambling.

“The operator was instructed to take immediate action and make significant improvements to its systems and controls. This included strengthening their risk assessments, improving how they identify and respond to indicators of harm, and ensuring the accuracy of the data they report to us.

“Alongside the £650,000 financial penalty, the operator is also required to commission an independent audit of its policies, procedures, and controls to ensure the necessary improvements they have implemented are properly embedded and remain effective in practice.”

Social responsibility shortcomings included weak customer-interaction systems and delayed recognition of gambling harm indicators such as overnight play, rapid deposits, and escalating gameplay. NetBet also filed inaccurate regulatory returns.

The UK Gambling Commission has ordered NetBet to strengthen its AML and harm-prevention controls, improve risk assessments, and ensure data accuracy. The independent audit will confirm these reforms are effectively embedded.

NetBet’s fines will be directed to socially responsible causes.

NetBet offers both sports betting and online casino games to consumers and they have previously kept a relatively clean bill of health with the Gambling Commission.