The UK Gambling Commission has published its fourth and last report of its ongoing series that is looking into the issue of illegal online gambling.
This series of reports,...
Betfred fined $1.1 million by Britain’s Gambling Commission
Great Britain’s Gambling Commission (UKGC) has imposed a $1.1 million fine on Betfred in connection with social responsibility and money laundering breaches between May 2024 and March 2025.
The operator is blamed for being unable to identify money laundering risks and flagging customers who were subject to financial sanctions. Also, the thresholds over users’ income sources were not appropriately risk-based.
The regulator added that Betfred didn’t conduct necessary interactions with customers, and at times when interactions occurred, they weren’t done in a way that minimized the risk of gambling-related harm.
Previously, Betfred paid £3.25 million in fines in 2023 for social responsibility and anti-money laundering, making this the second regulatory action against them in two years.
John Pierce, director of enforcement at the commission, said:
“While the failings identified during the 2024 Compliance Assessment were predominantly technical breaches rather than arising from specific customer examples, they were nevertheless unacceptable, particularly with thresholds appearing too high and insufficiently risk-based when assessed in practice, and deficiencies in some processes and procedures adopted by the licensee.”
Betfred’s example comes after other operators like Deadheat Racing and Videoslots faced regulatory scrutiny. Deadheat Racing’s license was suspended, while Videoslots was fined £650,000.
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