The online bookmaker and online casino site, Ladbrokes Coral has just been fined 2.5 million pounds sterling for not doing its job. In Great Britain legal online gaming sites must protect vulnerable players and verify the origin of funds. Responsible gaming is an absolute must in order to figure on the famous English “White List”, the Holy Grail for offering online games to English internet players. Ladbrokes Coral failed and is now added to the long list of legal online operators that have been punished by the UK Gambling Commission.
Live Dealers Casino explains why Ladbrokes Coral has been rapped on the knuckles and now has to dig deep to pay its fine.
Two vulnerable players who bet with stolen money
The UK Gambling Commission has many checks in place to protect online players and it’s just as well ! In April 2016 , the Gala Coral Group repaid more than 846 000 pounds sterling to a fraud victim who had his money stolen. This time it’s similar but with the name Ladbrokes Coral. Ladbrokes has merged with the Coral Group and so is now Ladbrokes Coral. The English Gaming Commission has fined it 2.5 million pounds for not doing its job. Every operator needs to have information on the funds players bet on casino games. Moreover, responsible gaming is part of the “charter” of White List operators. Ladbrokes Coral did nothing about the huge sums bet by two players. One player bet and lost more than 837 545 pounds in just 14 months and another 432 765 in just 11 months. In both cases, the money was stolen. The two players ended up in prison, one will be behind bars for 4 years and the other for 4.5 years.
One wonders how customer service, which is in touch with players had its eyes closed to such amounts bet? Why didn’t it look into the source of this money? The UK Gambling Commission has hit Ladbrokes Coral in the wallet for failing in its obligations. The online sports betting and online casino group has no other choice but to put in place an early warning system to avoid any more fines or even losing its gaming licence.
Ladbrokes Casino sanctions: far from an isolated incident
In Great Britain, online casino games, bingo, poker and online sports betting have been legal for over a decade. One only has to put on the tv to see ads on an online gaming site or to look at a football match. Online gaming is an integral part of English life (One only has to walk through the streets of London to notice this, Editor’s note). The UK Gambling Commission carries out its role as an online gaming super cop well and doesn’t hesitate to bring to order those who don’t respect the rules. Ladbrokes Coral wore the dunce’s hat with this 2.5 million fine but it’s not the largest cheque that an operator had to write. 888 paid dearly for not preventing several players playing on its platform. 8888 had to pay out 7.8 million pounds. Other groups such as BGO (£300 000), Futgalaxy (£265 000),Camelot (£3 million), Betfred (£800 000) and Paddy Power Betfair (£280 000) have also paid out.
The Gambling Commission has given legal operators in Great Britain a timely reminder and they have probably understood the message. To be continued…