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William Hill Gets £19.2 Billion Fine
The point of rules and regulations is that they are to be followed to the letter. Any adaptations and changes made to the law are to be implemented immediately. This goes for any sector of any country, the iGaming sector included.
Regulatory bodies such as the UK Gambling Commission are put in charge to monitor and punish those that don’t follow regulations. That same body issued a £19.2 billion dollar fine to William Hill a popular gaming operator. The reasons behind the fine include anti-money laundering failures and alarming social responsibility.
Not the Operator’s First Fine
An operator like William Hill has a global presence in the world of iGaming. This is why it has an important role as other brands and operators may look up to him as an example of proper conduct. But this isn’t the case as the operator has been slapped with a £19.2 billion fine for misconduct. The same operator got slapped with a fine of £6.2 million for the same reasons, namely social responsibility and money laundering failures.
This goes to show that even the big brands make mistakes, but it’s not clear why they repeat them. The company’s revenue for 2022 should be published in April 2023 and it will be revealed if any mistakes have been made in the reports. William Hill may mend its ways and avoid any fines in the future.
One example of misconduct includes letting a player spend £23,000 in 20 minutes without contacting the player or restricting him. Problem gaming is a huge issue the industry is dealing with right now which is why William Hill should take greater care. The fine is split between WHG Limited, William Hill Organisation Limited, and Mr. Green Limited. They need to pay £12.5 million, £3 million, and £3.7 million respectively.
A fine has come to them a couple of times, but it seems that the operator has yet to learn a lesson. Any future disregard for regulations might end with larger fines, and even losing an operating license, which is why William Hill needs to be careful.
The popular iGaming and betting operator William Hill has been fined a massive fine of £19.2 billion for anti-money laundering failures and social responsibilities. The operator was fined for the same breaches in regulations in 2018. The fine is much larger now and serves as a warning to the operator.