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Paddy Power Betfair fined after taken cash is gambled through its site

16 October 2018

Paddy Power Betfair has been fined ₤ 2.2 m for stopping working to stop stolen cash being bet through its site and for failing to secure clients showing indications of problem betting.

The Gambling Commission stated the bookmaker's failings meant "considerable amounts of taken money streamed through their exchange".

One client used money defrauded from his company, Birmingham Dogs Home.

Paddy Power Betfair apologised and said it had strengthened its treatments.

The regulator said Paddy Power Betfair's behaviour was merely not acceptable.

A Betting Commission investigation, external also discovered that the bookie failed to properly connect with clients who were displaying indications of issue gambling.

"These failings all come from one basic concept - operators must understand their customer," said Richard Watson, Gambling Commission executive director.

"If they understand their consumer and ask the best questions then they put themselves in a strong position to fulfill their anti-money laundering and social responsibility obligations."

'Very sorry'

As part of the settlement, Paddy Power Betfair will make a ₤ 1.7 m payment to GambleAware, the independent charity that commissions research study, education and treatment services to reduce gambling-related harm in the UK.

Paddy Power Betfair primary executive said: "We have a duty to intervene when our consumers show signs of issue gaming. In these 5 cases our interventions were ineffective and we are very sorry that this promotion code took place.

"In the last few years, we have actually purchased an extensive program of work to enhance our resources and systems in accountable gambling and customer defense. We are motivated that the Gambling Commission has identified significant enhancement because the time of these cases in 2016."

The commission's query centred on five clients in 2016, including two who were allowed to gamble taken cash - one of whom had defrauded his employer, Birmingham Dogs Home.

Simon Price, who was chief executive of the canines home, and his wife Alayna admitted cheating the charity of ₤ 894,754 to fund his gambling addiction.

Mr Price was jailed for 5 years at the end of 2017, while Mrs Price was offered a two-year suspended term.

As part of Paddy Power's settlement with the Gambling Commission, the cash will be gone back to the dogs home.

Shares in Paddy Power Betfair increased 3.4% in late trading in London.

William Hill fined for lax criminal controls

20 February 2018