Paddy Power Betfair fined after taken cash is bet through its site

16 October 2018

Paddy Power Betfair has been fined ₤ 2.2 m for failing to stop taken money being gambled through its site and for failing to safeguard customers showing signs of problem gambling.

The Gambling Commission said the bookie's failings indicated "considerable quantities of taken cash flowed through their exchange".

One customer used cash defrauded from his employer, Birmingham Dogs Home.

Paddy Power Betfair apologised and stated it had enhanced its treatments.

The regulator said Paddy Power Betfair's behaviour was simply not appropriate.

A Gaming Commission examination, external likewise found that the bookmaker failed to adequately interact with customers who were showing indications of issue gaming.

"These failings all come from one easy principle - operators must know their consumer," said Richard Watson, Gambling Commission executive director.

"If they know their consumer and ask the ideal concerns then they position themselves in a strong position to fulfill their anti-money laundering and social obligation commitments."

'Very sorry'

As part of the settlement, Paddy Power Betfair will make a ₤ 1.7 m payment to GambleAware, the independent charity that commissions research study, education and treatment services to lower gambling-related harm in the UK.

Paddy Power Betfair president Peter Jackson stated: "We have a responsibility to step in when our customers show indications of problem gambling. In these 5 cases our interventions were ineffective and we are extremely sorry that this took place.

"In the yohaig code last few years, we have bought an extensive program of work to enhance our resources and systems in responsible betting and customer security. We are motivated that the Gambling Commission has actually acknowledged significant improvement since the time of these cases in 2016."

The commission's query centred on five clients in 2016, consisting of 2 who were permitted to gamble taken cash - one of whom had actually defrauded his company, Birmingham Dogs Home.

Simon Price, who was primary executive of the pets home, and his better half Alayna admitted cheating the charity of ₤ 894,754 to fund his betting addiction.

Mr Price was jailed for 5 years at the end of 2017, while Mrs Price was provided a two-year suspended term.

As part of Paddy Power's settlement with the Gambling Commission, the money will be gone back to the canines home.

Shares in Paddy Power Betfair increased 3.4% in late trading in London.

William Hill fined for lax criminal controls

20 February 2018