Gambling Commission hits Betfred with £825,000 fine for failings related to gaming machines in their shops
Betfred have been hit with an £825,000 fine from the Gambling Commission for social responsibility and anti-money laundering failures.
What were described as mainly “technical breaches” were associated with gaming machines in Betfred’s betting shops, with the bookmaker saying no evidence had been found of any criminal spend.
Among their findings against Betfred, the commission said the operator was “unable to effectively identify and manage money laundering risks” associated with their gaming machines.
It also criticised Betfred for not adequately identifying spend and any associated financial indicators of gambling harm for customers and the quality of their customer interactions.
Betfred will also receive a warning and have to undergo a third-party audit.
The commission’s director of enforcement John Pierce said: “While the failings identified during the 2024 compliance assessment were predominantly technical breaches rather than arising from specific customer examples, they were nevertheless unacceptable, particularly with thresholds appearing too high and insufficiently risk based when assessed in practice, and deficiencies in some processes and procedures adopted by the licensee.
“We fully acknowledge the improvements the operator has already made since these issues were identified, and the independent audit will be key to confirming these changes are sustained so that the operator continues to be fully compliant with social responsibility and anti-money laundering requirements.”
It is the second time Betfred’s betting shop estate has been the subject of regulatory action, with the firm having paid a £3.25 million settlement in 2023 for social responsibility and anti-money laundering failures.
Responding to the latest punishment, Betfred’s head of corporate affairs and communications Mark Pearson said: “Following a review of our UK-based betting shops by the Gambling Commission we have further strengthened our anti-money laundering and social responsibility policies.
“During the review, the commission found no evidence of criminal spend in our shops. Betfred is committed to ensuring a safe gambling experience for all our customers.”
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