Summary
Paddy Power Betfair, owned by Flutter Entertainment, agreed to pay £2 million after the UK's Gambling Commission found they were slow to address problem gambling behaviors among customers. The Gambling Commission pointed out that the company's systems failed to act quickly on clear signs of harmful gambling activities. The firm has committed to improving its response measures to prevent such issues in the future.
Key Facts
- Paddy Power Betfair will pay £2 million for not acting quickly on problem gambling issues.
- The Gambling Commission found cases where the company did not intervene when customers showed signs of harmful gambling.
- In one instance, a customer bet £86,000 in just over two weeks without a manual review.
- Another customer placed more than 300 bets, totaling £20,000, during an eight-hour spree.
- The payment is in lieu of a financial penalty for not meeting social responsibility standards.
- This is the second time in two years the company faced regulatory action for similar issues.
- Paddy Power Betfair claims they have improved their systems to detect problem gambling more effectively in real-time.
