UK Gambling Commission slaps Betfred with £900k fine
Betfred operator Petfre (Gibraltar) Limited has agreed to pay £900,000 following a UK Gambling Commission investigation into failures in its safer gambling procedures.
The regulatory settlement follows a compliance assessment which found Betfred did not have adequate systems in place to identify and respond to customers showing signs of gambling related harm.
According to the Gambling Commission, Betfred failed to use automated processes effectively to detect indicators such as gambling spend, time spent playing and betting patterns. The regulator also found the company did not have systems to ensure immediate action was taken when strong markers of harm were identified.
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One of the more serious failings involved Betfred’s safer gambling review process. Once a customer’s account had been flagged for review, it could not be flagged again for another seven days, even if additional warning signs emerged during that period.
The Commission said this resulted in some customers not receiving timely interventions. In one case highlighted by the regulator, a customer lost £17,900 within 24 hours without intervention from the wagering company.
Gambling Commission’s Director of Enforcement John Pierce said effective policies and procedures were fundamental to protecting customers.
“The Commission found that Petfre didn’t have sufficiently effective procedures in place, meaning some customers displaying markers of harm were not contacted quickly enough,” he said.
Pierce acknowledged the operator acted quickly once the issues were identified, introducing interim controls before implementing a broader action plan designed to meet the regulator’s requirements.
“The failure to implement an effective monitoring framework to identify and contact consumers at risk of harm at pace has resulted in a significant regulatory settlement,” he said.
Pierce added that the Gambling Commission expects other UK gambling sites to review the case and ensure they have effective systems in place to identify and protect customers at risk of gambling harm.
Petfre (Gibraltar) Limited put out a public statement acknowledging the fine and highlighting where their requirements had fallen down.
