The UK Gambling Commission fined Gamesys for violations from November 2021 to July 2022. Bally’s acquired the company in 2021. Also, the UKGC claimed there were instances the company failed to identify players at risk of experiencing harm related to gambling. In addition, its system could not identify problem gamblers and limit their deposits.
According to sportsbook pay per head experts, Gamesys did not always engage with clients who could be vulnerable to gambling-related damages. Thus, it raised questions about the company’s social responsibility.
For instance, despite a client losing £19,709 over five months, it only had one discussion with them regarding safe gaming.
It was also claimed that there was a lack of thorough documentation of exchanges, considerations, and decision-making reasoning. According to gambling reports, Gamesys failed in its anti-money laundering efforts in several ways. It included allowing customers to spend large sums of money without AML checks, insufficient customer due diligence, and an inadequate “Reinvestment of winnings policy” that left the possibility that the deposited funds could have come from illegal sources unchecked.
UK Gambling Commission Fined Gamesys for Policy Breaches
“Our objective as a regulator is to ensure that operators are utilizing rules and processes which make gaming fair, safe, and crime-free,” stated Kay Roberts, Executive Director of Operations at the Gambling Commission.
“The company may anticipate substantial regulatory action anytime we discover flaws in rules and processes; we take this obligation very seriously.”
To make gaming industry monitoring more effective, the Gambling Commission started a series of consultations last month to discuss ways to enhance legislation.
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