Paddy Power Betfair today confirms that it has entered into a regulatory settlement with the Gambling Commission regarding five cases from 2016, where former policies were not sufficiently effective in addressing responsible gambling and anti-money laundering requirements.
As part of the settlement, Paddy Power Betfair will return £500,000 to the impacted parties and will make a £1.7 million payment to GambleAware, the independent charity which commissions research, education and treatment services to reduce gambling related harm in Great Britain.
Peter Jackson, CEO of Paddy Power Betfair said: "We have a responsibility to intervene when our customers show signs of problem gambling. In these five cases our interventions were not effective and we are very sorry that this occurred.
In recent years, we have invested in an extensive programme of work to strengthen our resources and systems in responsible gambling and customer protection. We are encouraged that the Gambling Commission has recognised significant improvement since the time of these cases in 2016.
This work is continuous and we are committed to working in partnership with other operators, and with the Commission, to become better and better at protecting customers."
|Paddy Power Betfair plc||+44 20 8834 firstname.lastname@example.org|
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About Flutter Entertainment plc:
Flutter Entertainment plc (the “Group”) is a global sports-betting and gaming company reporting as four divisions:
UK & Ireland: includes Sky Betting and Gaming, Paddy Power, Betfair and Tombola brands offering a diverse range of sportsbook, exchange, gaming and bingo services across the UK and Ireland, along with over 600 Paddy Power betting shops in the UK and Ireland.
Australia: the Sportsbet brand offers online sport betting and is the Australian market leader.
International: includes PokerStars, Adjarabet, Betfair and Junglee operating in multiple jurisdictions around the world offering a diverse range of sportsbook, exchange and gaming services.
US: includes FanDuel, TVG, Stardust, FOX Bet and PokerStars brands, offering regulated real money and free-to-play sports betting, online gaming, daily fantasy sports and online racing wagering products to customers across various states in the US.