William Hill fine exposes regulatory weaknesses
- By: Mercy Dayil
- March 30, 2023
- LikeUnlikeLike
- 607 Views
Although 888 (the new owners of William Hill’s Non-American assets) has agreed to pay the £19.2 million fine issued by the UK Gambling Commission, but it highlights an underlying weakness in iGaming regulation, a top lawyer says.
The UK Gambling Commission (UKGC) on Tuesday imposed the record fine on William Hill for inadequate consumer protection measures and weak anti-money laundering controls. The wrongdoing was deemed so severe and widespread that the regulator even considered revoking the company’s license.
The commission discovered a compliance failure where a new customer was permitted to spend £23,000 in just 20 minutes without any verification checks. Another instance highlighted a betting shop customer who incurred losses of £54,252 over four weeks, but the operator failed to conduct appropriate financial checks.
According to the CEO of UKGC, Andrew Rhodes, the regulator “opted for the largest enforcement payment in its history” against William Hill, despite the operator’s prompt recognition of its deficiencies and cooperation with the regulator to implement corrective measures.
The fines were issued separately against three divisions of William Hill, which is owned by online gaming group 888: £12.5 million for William Hill’s online operation, £3.7 million for its sister site Mr Green, and £3 million for the division responsible for William Hill’s 1,344 betting shops.
However, according to the data, William Hill’s neglect of player safety resulted in a temporary increase in customer spending, a development which Keystone Law regulatory lawyer, Richard Williams, said sets a dangerous precedent.
According to Williams, “Implementing rigorous anti-money laundering and social responsibility procedures is likely to slow down customer spending and ultimately reduce revenue for the combined business.”
The statement is a risky one in the wider industry since it implies that profits can be increased by disregarding player safety and AML measures. Williams warns that if the regulators continue to neglect their responsibilities, it is probable that systemic violations will become the standard.
William Hill is one of the largest sports betting and online casino companies in the world, with an outstanding reputation among players.
Join the Betting Planet team!
Are you passionate about sports betting? Sports news writers required TODAY!
Experienced preferred but not essential. (All apps considered).
View Careers at Race MediaTop Online Casinos
Latest Betting News
- Buccaneers @ Chiefs betting picks & top props | NFL Monday
- India facing tricky chase against NZ on third day of Mumbai Test
- Zverev to face in-form Humbert in Paris Masters final
- Tonga stun New Zealand to reach Pacific Cup final
- WTA Finals 2024 betting tips, odds & predictions
- India v NZ: Honours shared on day one of third Test
- EPL: Ruben Amorim officially appointed as Manchester United boss
- Serie A Matchday 11 preview & top betting picks
- Premier League picks, odds & predictions | EPL Matchweek 10
- Brazil Grand Prix 2024 betting preview & free picks | F1
Casino Guides
- Safest online casino jurisdictions
- How to guides
- How to win at pokies
- How to play online pokies
- PaysafeCard online casino deposits
- MasterCard Online Casinos
- Online Casinos Accepting POLi
- 32Red Casino Review
- All Slots Casino Review
- Boombet Casino review
- Horse racing games at casinos
- Credit card deposits at online casinos
- Films about blackjack
- Live dealer casinos
- How to play live dealer blackjack party
- Online Blackjack
- Top online casinos 2024
- Online casino deposits
- MasterCard Online Casinos
- Online Casinos Accepting POLi
- PaysafeCard online casino deposits
- Online slots
- Playing Pai Gow Poker on the Internet
- Online keno
- Online poker
- Online poker tournament structures
- Real money online roulette 2024
- Online multi-wheel roulette – what is it?
- How to play online scratch cards in 2024
- Sit & Go online poker tournaments
- Skrill e-wallet deposits at online casinos
- Visa online casino deposits
Sports Betting Guides
Casino Games
Deposits & Withdrawals
Football
Basketball
Top Country Betting sites
- Angola
- Antigua and Barbuda
- Armenia
- Australia
- Azerbaijan
- Bahamas
- Barbados
- Belize
- Brazil
- Canada
- Dominican Republic
- Germany
- Ghana
- Grenada
- India
- Indonesia
- Italy
- Kenya
- Malaysia
- Malta
- Ireland
- Netherlands
- New Zealand
- Nigeria
- Norway
- Philippines
- Singapore
- South Africa
- Turkey
- Uganda
- Ukraine
- United Kingdom
- Vietnam
- Zambia
- Zimbabwe