UK Gambling Commission Issues Record £7.8M to 888 Holdings
The UK Gambling Commission had its final say and the news came rather hard on the 888 Holdings.
The 888 casino has been found guilty of failings in the handling of vulnerable customers and forced to pay a record £7.8 million fine.
Significant Flaws Noticed
The UK Gambling Commission reached the verdict after an extensive investigation which proved the company made ‘significant flaws’ in social responsibility processes, ultimately failing to protect customers from gambling-related harm.
The major incidents resulted in 7,000 customers who voluntarily decided to ‘self-exclude’ themselves from gambling getting banned from 888’s casino, poker and sports betting sites, but with access to the bingo platform.
The UK Gambling Commission determined that those customers were still able to spend at least £3.5 million over a year’s period after the self-exclusion. The UKGC investigation found 888 not robust enough and failing to protect their customers.
The second biggest incident occurred when a single customer who gambled £1.3 million at 888 sites with £55,000 stolen from his employer. This person gambled three to four times a day over a 13-month period and the UKGC expressed concern over 888’s inability to spot the red flags and warning signs regarding this particular customer.
“The lack of interaction with the customer, given the frequency, duration and sums of money involved in the gambling, raised serious concerns about 888’s safeguarding of customers at-risk of gambling harm.”, the UKGC statement read.
Under the terms of the fine package, 888 Holdings will be obliged to repay the full amount of £3.5 million in deposits made by the self-excluded customers, whereas a sum of £62,000 in compensation will be paid to the employer of the defrauding customer.
888 Holdings will pay additional £4.25 million to socially responsible programs fighting against the gambling-related harm.
An independent review of 888 Holding’s moves to ensure consumer protection.