In The News Betfred receives 825k penalty from UKGC for AML and Social Responsibility failures

[conker]

High street and online bookie Betfred has been hit was a rather large penalty from UK Gambling Commission for failings related to Anti-Money Laundering (AML) and Social Responsibility.

Done Brothers (Cash Betting) Limited, trading as Betfred, will pay £825,000 after a Commission investigation revealed social responsibility and anti-money laundering failures.

The operator, which runs a number of betting shops, will also receive a warning and have to undergo a third-party audit to ensure it is effectively implementing its anti-money laundering and safer gambling policies, procedures and controls.

A lot of the failings for this particular penalty appeared to be related to betting terminals and game cabinets in their high street branches.

This is the second time Done Brothers (Cash Betting) Limited has faced regulatory action – in 2023 the operator paid a £3.25 million regulatory settlement for social responsibility and anti-money laundering failures.

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[dunover]

Anti-money laundering failures included:

• the licensee was unable to effectively identify and manage money laundering risks associated with customers using its B3 gaming machines. Whilst the licensee utilised machine alerts and daily reports, practices in place at the time of the assessment in 2024 meant the operator was unable to assess overall customer spend and the associated money laundering and terrorist financing risks
• the licensee did not have an effective policy in place to identify and handle any customers who may be subject to financial sanctions
• thresholds at which the operator made enquiries regarding customers’ source of income were not appropriately risk based, with thresholds set at £15,000 losses and at £125,000 stakes in 365 days.

So I am guessing that these machines can take cash and pay out in tickets? Or used to?

Which means, like land-based, you can simply turn up with wads of cash, load the machines, print tickets out after so many spins which can be cashed with a receipt to provide provenance for the hitherto 'dirty' money? I don't go in bookies' shops, but I know you could be paid by cheque at one time, don't know if that still happens because if so it would be another great way to pay bent cash into banks and legitimize it.

 

[SYPlayer95]

From the article -
'Thresholds at which the operator made enquiries regarding customers’ source of income were not appropriately risk based, with thresholds set at £15,000 losses and at £125,000 stakes in 365 days.'

Thats £2,400 a week staked through the terminals. How can they not notice? Or maybe they did but didnt bother to do anything.

This is what happens when staff are incentived based on profits.

 

[conker]

The staff in these shops are typically just trying to make it through to the end of the week with a job come Monday morning. There is no real career path or profession as such, unless you have ambitions to be a shop manager. Paying attention to what people are spending is probably the last thing they want to be raising.

"Thanks for reporting that player spent too much money yesterday Brenda. Oh, by the way, head office said you can pick up your P45 on the way out later."

 

[Webzcas]

FOBT's the 'Crack Cocaine of the High Street' - They were the reason many towns had two of the same bookies literally on the same street. As each shop limited to having a maximum of four.

 

[Mark_Lottomart]

FOBT's the 'Crack Cocaine of the High Street' - They were the reason many towns had two of the same bookies literally on the same street. As each shop limited to having a maximum of four.

That’s not at all true. Online is much, much, worse, we’re causing all kinds of problems for UK consumers and we’re rightly paying the penalty with increased taxes.

Imagine a world where there would be a spotty 21yr old Kevin on minimum wage is trying to watch a whole shop full of gamblers with inadequate training, outdated technology and P&L tracking that isn’t fit for purpose. “What’s up mate? Can’t deposit on that card because you’ve hit your deposit limit? Don’t worry my good friend. There’s a cash machine next door go there and come back!”. Followed by “Oi.. Doris. I’ve noticed you’ve been sat there for 8 hours because it coincided with 16 episodes of breaking bad I was watching while you lost all of your disability allowance. I’m sorry to ask this, but can you wheel yourself outside for 5 mins and then come back in as you need to take a break. What? You’re too tired? Don’t worry I’ll push you back in”.

He doesn’t know Doris. He uses a nickname as there are no ID checks or verification on people who come in. It was actually a male taxi driver wearing a wig because he was “self excluded” from the place.

Thankfully this doesn’t happen.

 

[spindoctor99]

Its hard to take Betfred seriously when they advertise on pornhub. Just another bottom feeder.

 

[SYPlayer95]

That’s not at all true. Online is much, much, worse, we’re causing all kinds of problems for UK consumers and we’re rightly paying the penalty with increased taxes.

Imagine a world where there would be a spotty 21yr old Kevin on minimum wage is trying to watch a whole shop full of gamblers with inadequate training, outdated technology and P&L tracking that isn’t fit for purpose. “What’s up mate? Can’t deposit on that card because you’ve hit your deposit limit? Don’t worry my good friend. There’s a cash machine next door go there and come back!”. Followed by “Oi.. Doris. I’ve noticed you’ve been sat there for 8 hours because it coincided with 16 episodes of breaking bad I was watching while you lost all of your disability allowance. I’m sorry to ask this, but can you wheel yourself outside for 5 mins and then come back in as you need to take a break. What? You’re too tired? Don’t worry I’ll push you back in”.

He doesn’t know Doris. He uses a nickname as there are no ID checks or verification on people who come in. It was actually a male taxi driver wearing a wig because he was “self excluded” from the place.

Thankfully this doesn’t happen.

All the sessions are tracked electronically behind the counter.

On numerous occasions i have asked, 'how much in' and they told me within 10 seconds.

To me, its easy, you just assign the play session to a profile made up on their side.

If you dont know the customer the limits are lower.

 

[PMKFRUITPRO]

Oh and there was me thinking that Betfred customers are like the ones they portray on their rediculous adverts on tv and radio.

That’s right there all in what’s app groups discussing their spending limits, keeping an eye on each others behaviour and discussing taking a break from gambling because they don’t ‘wanna bet’???!!!!

Yeah of course that’s how it is!!

I often find that after braining out on the weekends horses and having footy results not go my way, several of my friends will get in touch to check on me, you know just to make sure I’m ok and maybe I should set limits or take a break for the rest of the month!!

Why try and portray this nonsense or that they give a fuck when the business model is the exact opposite??

 

[dunover]

I often find that after braining out on the weekends horses and having footy results not go my way, several of my friends will get in touch to check on me, you know just to make sure I’m ok and maybe I should set limits or take a break for the rest of the month!!

Why try and portray this nonsense or that they give a fuck when the business model is the exact opposite??

 

[ChopleyIOM]

It seems like a lot of these big gambling companies just see the fines as part of the cost of doing business. They'll get away with it most of the time and then when they do caught, hand over the fine, promise to do better in future, and then largely just carry on as before. Wash rinse repeat.

It's like when these infernal digital terminals get smashed up by an addict who has (to use the parlance of the industry) 'played to extinction', they simply wheel out the remains of the broken terminal and replace it with a new one. As if the broken terminal is the problem, not the broken model of a high street gambling 'industry' that relies on addicts to survive.

 

[Webzcas]

It seems like a lot of these big gambling companies just see the fines as part of the cost of doing business. They'll get away with it most of the time and then when they do caught, hand over the fine, promise to do better in future, and then largely just carry on as before. Wash rinse repeat.

It's like when these infernal digital terminals get smashed up by an addict who has (to use the parlance of the industry) 'played to extinction', they simply wheel out the remains of the broken terminal and replace it with a new one. As if the broken terminal is the problem, not the broken model of a high street gambling 'industry' that relies on addicts to survive.

Sorry to ignore the other posts since my last post, but just want to comment on this. I have never been a fan of FOBT's and was actually pleased when legislation was brought in ( in 2019 I believe ) reducing the maximum stake to £2 from a staggering £100.

But now, I notice that Merkur Slot premises are popping up everywhere around high streets of towns up and down the country. I have never been in one, but I bet they get a lot of trade from customers who solely frequented bookies to go on the fixed odds betting terminals.

 

[PMKFRUITPRO]

The terminals are pretty much the same in
both bookies and arcades now. Just a lot more allowed in these high st arcs.

The whole gambling industry thrives on addicts and as chop says the ‘big’ firms consider a slapped wrist and fines as part of the job as it were.

Isn’t the official stat somethimg like 76% of custom/profit comes from problem gamblers for all bookies / online casinos?? I might be wrong on that but it’s pretty close im sure.

Bookies love swedists, brainers and addicts.

They certainly DONT like clued up sports betters I can tell u that!!

 

[dunover]

Sorry to ignore the other posts since my last post, but just want to comment on this. I have never been a fan of FOBT's and was actually pleased when legislation was brought in ( in 2019 I believe ) reducing the maximum stake to £2 from a staggering £100.

But now, I notice that Merkur Slot premises are popping up everywhere around high streets of towns up and down the country. I have never been in one, but I bet they get a lot of trade from customers who solely frequented bookies to go on the fixed odds betting terminals.

You mean 'Entertainment Centres'?

 

[Webzcas]

Yes, normally sandwiched between a nail bar and a charity shop

 

[SYPlayer95]

Lol. My local betfred is between a phone repair shop and a barbers.

Yes, normally sandwiched between a nail bar and a charity shop

 

[Webzcas]

Not a Turkish barbers is it by any chance?

 

[SYPlayer95]

Not a Turkish barbers is it by any chance?

How did you guess?
The UK must be the money laundering centre of the world.

 

[dunover]

If not a barber shop, then a vape shop.

 

[satchnz]

It seems like a lot of these big gambling companies just see the fines as part of the cost of doing business. They'll get away with it most of the time and then when they do caught, hand over the fine, promise to do better in future, and then largely just carry on as before. Wash rinse repeat.

It's like when these infernal digital terminals get smashed up by an addict who has (to use the parlance of the industry) 'played to extinction', they simply wheel out the remains of the broken terminal and replace it with a new one. As if the broken terminal is the problem, not the broken model of a high street gambling 'industry' that relies on addicts to survive.

JFC!