Betit Operations Limited
The Commission carried out an investigation into Betit Operations Limited, which identified weaknesses in its anti-money laundering and customer interaction controls.
The investigation found breaches of:
- Licence condition 126.96.36.199
- Licence condition 12.1.1(2) and 12.1.1(3)
- Licence condition 12.1.2
- Licence condition 1.2.1
- Licence condition 15.2.1
The investigation also found a failure to comply with:
- Social responsibility code 3.4.1
Betit acknowledged its shortcomings at an early stage.
In line with our Statement of principles for licensing and regulation, Betit has agreed a regulatory settlement consisting of:
- A payment in lieu of financial penalty of £1,400,000 which will go to National Responsible Gambling Strategy project(s) to pay for research and treatment,
- The voluntary placing of additional conditions on Betit’s operating licence under section 117(1)(b) of the Gambling Act 2005,
- Agree to the publication of a statement of facts by the Commission, and
- Payment of £18,732 towards our investigative costs
For more information, please see the Commission’s public statement, which can be found on our website.