A report by gambling compliance tracker website GamblingIndustryfines.com has revealed that European and UK gambling regulators issued over £24m / €28.1m / $33m in fines during the first quarter of 2021.
Q1 Gambling Industry Fines Exceed Total Sanctions Issued in First Half of 2020 by GamblingIndustryfines.com also reveals that Q1 fines for 2021 exceeded the total fines for both Q1 and Q2 of 2020.The UK Gambling Commission (UKGC), Swedish Gambling Authority (Spelinspektionen) and the Netherlands’ Kansspelautoriteit issued sanctions to thirteen online and land-based gambling operators in Q1 of 2021. These sanctions included both financial penalties and warnings.
Q1 Gambling Industry Fines Exceed Total Sanctions Issued in First Half of 2020 £6m / €7m / $8.2m for breaching anti-money laundering rules and failing to implement responsible gambling measures for its players. Q1 Gambling Industry Fines Exceed Total Sanctions Issued in First Half of 2020The key reasons for regulatory sanctions were:
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Q1 Gambling Industry Fines Exceed Total Sanctions Issued in First Half of 2020
Q1 Gambling Industry Fines Exceed Total Sanctions Issued in First Half of 2020
- Offering odds on a matches featuring underage players
- Offering bonuses that breached local gaming laws
- Failure to place limits on accounts where players were overspending
- Operating unlicensed domains
- Failure to identify customers at risk of gambling related harm
Natasha Lyndon
Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.