Top Online Poker Firm Fined $10M For Allowing Self-Excluded Players To Deposit Millions888 Holdings Hit With 'Record Penalty Package' In The United Kingdom |
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The real-money online gaming platform 888 will have to fork over £7.8 million ($10 million USD) in the United Kingdom for “serious failings in its handling of vulnerable customers.”
The U.K. Gambling Commission said Thursday that the fine is a “record penalty package” for the online gaming sector. It could have been worse, as regulators reportedly could have revoked its license. The U.K. is one of the largest regulated online gambling markets in the world.
The government said that due to a “technical failure” more than 7,000 gamblers who had self-excluded from the platform thanks to problematic play were still able to access 888’s bingo games. “The issue went undetected for a prolonged period of time, meaning customers were able to deposit £3.5 million into their accounts, and then continue to gamble, for over 13 months,” regulators said in a press release. 888 said it never intended to “benefit financially” from the failure.
Part of the $10 million fine will go toward refunding the deposits that the self-excluded gamblers made between October 2015 and September 2016.
The company also “failed to recognize visible signs of problem gambling behavior” in one customer who stole £55,000 from their employee to fund their 888 account. The gambler in question was playing up to four hours each day during a roughly year-long period.
“The lack of interaction with the customer, given the frequency, duration and sums of money involved in the gambling, raised serious concerns about 888’s safeguarding of customers at-risk of gambling harm,” the Commission said.
Despite the penalty, the admonishment included some positive words for the Gibraltar-based company.
“888 was frank and cooperative during the licensing review process. Following the investigation, we are also of the view that 888 has recognized its failings and has gone to significant lengths to address the concerns raised to prevent these issues happening again. We consider that this case provides valuable learning for both online and retail operators.”
888 is the tech firm behind the World Series of Poker’s online poker site in Nevada, and is also involved with the regulated markets of New Jersey and Delaware.
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