Sanction

Fairbetter Limited

Account number:

53672

Decision date:

12 December 2024

Outcomes:

Revoked

Details

Following a licence review under section 116 of the Gambling Act 2005 (“the Act”), the Commission determined to revoke the operating licence issued to Fairbetter Limited (“the Licensee”), under section 117(1)(f) and section 119(1) of the Act.  

The Commission found the Licensee:

1. Breached the following conditions of its operating licence:

• Licence condition 2.3.1 – Technical Standards  
• Licence condition 7.1.1 - Fair and transparent terms and practices
• Licence condition 12.1.1 Anti-money laundering - Prevention of money laundering and terrorist financing

2. Breached section 82 of the Act by failing to comply with the following social responsibility code provisions:

• Social responsibility code provision 3.5.5 – Remote multi-operator SR code
• Social responsibility code provision 3.9.1 – Identification of individual customers
• Social responsibility code provision 6.1.1 – Complaints and disputes

3. was unsuitable to carry on the licensed activities.