UKGC Fines Three Online Casinos While More Face Consequences
The UK Gambling Commission (UKGC) has gone on a rampage in an effort to send a strong message to the online casino industry.
The gambling watchdog has pulled up three iGaming operators and hit them with hefty fines which combine to a total of £14 million.
These three casinos are reportedly just the first few who will pay fines as the UKGC is continuing to investigate a number of online casino operators.
One unlucky operator decided to give up its license to operate in the UK after the commission opened a review of its license.
Millions In Fines
Casumo, Daub Alderney and Videoslots all had to pay fines of various amounts depending on their violations. Daub Alderney was hit the hardest and has to pay a fine of £7.1 million while Casumo is next in line with a penalty package of £5.85 million. Videoslots had the smallest penalty and had to pay £1 million.
The total fines that were paid exceeded the largest fine levied by the UKGC. This was the £7.8 million fine paid by 888 Holdings after 7,000 players who signed up for a voluntary blocking program were still allowed to bet. The three fined casinos are being punished for failing to ensure that their customers were being properly monitored and for not following the UKGC’s requirements for safer gambling.
These are hefty fines and not all online casinos are in a position or want to shell out so much money. Casino operator CZ Holdings decided that it was better to just give up its license to operate in the UK after the UKGC started reviewing its license. The UKGC is reportedly investigating another six online casinos.
Besides online casino operators, the UKGC has also turned its eyes to individuals. Three people have been barred from ever becoming directors of gambling companies, while four have been given a stern warning about their activities. A further three are under investigation.
In a statement, Jeremy Wright, the secretary of state for the Department of Digital, Culture, Media, and Sport said
Any online operator that thinks it can ignore its duty to protect players should take note today – there will be consequences. Protecting vulnerable consumers is our prime concern, and it must be the priority for gambling operators too
Wright was very pleased that the UKGC was taking solid steps to enforce its requirements for a safer online gambling market. The commission has taken a stricter stance on online casinos that have been found to be in breach of gaming regulators. The result is millions of pounds in fines have been levied on major operators like Skybet and Ladbrokes for not doing their due diligence to avoid problem gambling and money laundering from taking place. The UGKC has sent out a strong message to the online casino industry with these latest fines and investigations.