NT Racing Regulator Channels UK Gambling Commission, Raps Betfair for Responsible Gambling Failures - W88club

NT Racing Regulator Channels UK Gambling Commission, Raps Betfair for Responsible Gambling Failures

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NT Racing Regulator Channels UK Gambling Commission, Raps Betfair for Responsible Gambling Failures

Category : News

Czech Gambling Group SAZKA Shelves London IPO Plans in Nightmare Week for LSE
Posted on Friday October 05, 2018

A nightmare week for the London Stock Exchange continues as SAZKA Group puts listing on ice due to market volatility Czech lottery and betting operator SAZKA Group has iced plans to float on the London Stock Exchange, citing market’s volatility as the reason behind its decision. The announcement arrived as the latest of a round

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West Virginia’s Wheeling Island Casino Targets Fall Opening of Sportsbook
Posted on Friday October 05, 2018

Wheeling Island Casino targets fall launch of sports betting, football season on property’s radar Legal sports betting is almost ready to arrive at Wheeling Island Hotel Casino Racetrack in Wheeling, West Virginia, although an official date for the launch of the property’s sportsbook is yet to be announced. The gambling venue’s parent company, Delaware North,

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Betfair was ordered to refund problem gambler after failing to spot “red flag behaviours”
Gambling operator Betfair, owner of the world’s biggest online betting exchange, was scolded by regulators in Australia’s Northern Territory for failing to identify “red flag behaviours” that showed a customer of the company had a serious gambling problem.
Betfair’s failure to spot its customer’s issues resulted in the latter losing hundreds of thousands of dollars within a few hours. The Northern Territory ruled that the company should refund the customer in question, described as Mr M in official documents, the amount of A$150,000 in “unlawful bets.”
The Commission’s ruling was issued last week and was concerned with a case dating back to February.
The Case
Mr M filed a dispute with the NT Racing Commission after gambling away more than A$190,000 within a few hours on Betfair’s website. Betfair is licensed in the Northern Territory to provide betting services to Australian customers and the local Racing Commission is the regulatory body that oversees the company’s activities.
According to official documents, Mr M requested on February 20, 2018 to have A$150,000 transferred from his Betfair betting account to his bank account after losing a significant amount of money on that day.
However, he managed to gamble away A$86,388 that had remained into his betting account a little over 20 minutes after making his initial request. The unfortunate bettor topped up his Betfair account with A$35,000 four hours later and gambled that amount within 47 minutes.
Mr M has told the NT Racing Commission that in what he has described as a “desperate mindset” he asked the gambling operator to reverse his earlier withdrawal request so that he could once again top up his betting account with A$150,000. The customer was initially told that a reversal of withdrawal request could not be canceled. However, after Mr M made several more calls to the company, a manager agreed to have his withdrawal request reversed in a one-off move. The gamble lost that A$150,000, too.

Saudi Casino
Posted on Wednesday September 19, 2018

Is there a Saudi casino? Saudi Arabia is a tourist paradise due to the various forms of entertainment that attracts more than one foreigner. Although many come with the idea that being a country full of riches is possible to stay in a casino hotel, is far from reality. The laws in Saudi Arabia regulate

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Are There Casinos in Saudi Arabia
Posted on Wednesday September 19, 2018

Many customers interested in gambling have asked us if there are there casinos in Saudi Arabia. It is true that the religious policies of this country do not like the subject of casinos very much, but it is possible to play. Of course, casino hotels in Saudi Arabia are not like the ones you would

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The Ruling
The NT Racing Commission has ruled that Betfair should refund Mr M the A$150,000 he had initially asked to be transferred to his bank account. The regulator has also said that Betfair clearly failed to detect a problem gambler, even though there were red flags that the customer the company was dealing had a gambling problem.
In addition, it came to the commission’s knowledge that Mr M had a history of problem gambling. The unnamed gambler self-excluded himself from gambling for six months in 2014 and had a one-month timeout on his wagering account in 2016.
In January 2018, a month before the February 20 incident that led up to his complaint with the Racing Commission, Mr M tried to have a A$40,000 withdrawal request reversed. However, his request was dismissed over “responsible gambling” considerations.
Betfair has told the commission that it could not have known that Mr M had gambling issues as he had never informed the operator about his problem and that it did not spot any “discernible indicators” in his gambling activity.
In its ruling, the regulator has said that Betfair failed to comply with existing gambling regulations and to detect “red flag behaviours”, and that if it had not failed to detect those, it would have suspended Mr M’s account and would have prevented him from losing a huge amount of money.
Aside from being ordered to refund its customer, Betfair was also fined A$13,175. That was the third time in the past year and a half that the gambling operator breached conditions of its license from the Northern Territory, the commission has noted in its ruling.
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Churchill Downs Acquires Majority Stake in Rivers Casino Des Plaines
Posted on Thursday November 01, 2018

Churchill Downs acquires “crown jewel of Illinois gaming” in latest acquisition deal within the US land-based casino space Gambling company Churchill Downs Incorporated announced on Wednesday that it has reached an agreement to buy a majority stake in Rivers Casino Des Plaines in Des Plaines, Illinois. The transaction involves Churchill Downs’ acquisition of “certain of

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Norwegian TV Host Sues Gaming Innovation Group over Failed Collab
Posted on Thursday November 01, 2018

Popular television personality claims he has reached a verbal agreement entitling him to 3.4 million shares now worth NOK10 million Popular Norwegian TV presenter Hallvard Flatland says he is entitled to 3.4 million shares in online gambling group Gaming Innovation Group (GIG) under a verbal agreement with company officials back in 2015. The company is

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Key Cayman Islands Lawmaker Slams Tougher Illegal Gambling Penalties
Posted on Thursday November 01, 2018

Opposition leader proposes alternative approach toward addressing gambling-related issues The Cayman Islands government opposition leader has criticized the recently introduced Gambling (Amendment) Bill 2018 that calls for the implementation of higher fines and longer prison terms for individuals conducting and engaging in illegal gambling services. Opposition leader Ezzard Miller has called the measure “draconian” and

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