Online bookmaker and UK casino operator QuinnBet has been hit with a £609,104 Gambling Commission settlement after the UKGC found a series of failures across QuinnBet’s anti-money laundering and social responsibility systems. This included one customer placing around 11,800 bets across two days without the activity triggering a warning.
The extraordinary betting spree saw the customer place approximately 4,800 bets in one day and 7,000 the following day, yet QuinnBet’s safer gambling controls failed to flag the activity for review.
QuinnBet, established in 2017 and headquartered in Gibraltar, operates an online sportsbook and casino offering, including online slots, casino and live casino products.
11,800 Bets And No Warning
The sheer volume of betting was one of several serious failures the regulator uncovered.
QuinnBet’s controls were designed to identify indicators of potential gambling harm, including rapid gambling, increasing stakes, high numbers of bets and significant turnover.
But in this case, the customer placed around 11,800 bets over two consecutive days without being flagged.
The Commission also found another case in which a customer, after a significant win, staked more than £215,000 in a single day, including several bets worth more than £5,000.
That activity wasn’t identified until a report was produced the following day.
£9,000 Loss On £2,000 Monthly Income
QuinnBet’s anti-money laundering controls were also criticised.
One customer provided payslips showing monthly earnings of around £2,000, but subsequently deposited and lost £9,000 in just four days.
The Commission said QuinnBet failed to identify the spending as disproportionate.
The regulator also found that the operator relied too heavily on Source of Wealth checks and lacked sufficiently effective controls around Source of Funds.
The investigation highlighted failures in identifying and responding to customers whose gambling activity could indicate financial crime or vulnerability.
Younger Customers Escaped Deposit Limits
The operator also came under fire over deposit limits for customers aged 18 to 24.
The Gambling Commission found that QuinnBet had an ineffective manual process which allowed some younger customers to spend above the limits the operator had introduced.
In one case, a customer made an initial net deposit equivalent to six times the intended loss limit, with the relevant limit triggered only after the customer had already lost twice the intended amount.
The Commission concluded that QuinnBet’s systems were not sufficiently effective in practice.
Problems During Platform Migration
The UK regulator also found failures linked to QuinnBet’s migration to a new platform.
An error meant some customers did not receive financial vulnerability checks on time.
When the checks were eventually carried out, 41 customers would have failed them, while a further 136 would have required account restrictions.
QuinnBet Faces £609,104 Settlement
QuinnBet (Gibraltar) Limited has agreed to pay £609,104 as part of the regulatory settlement.
The amount includes £193,118 in disgorgement, alongside the remaining settlement amount and associated costs.
Following the investigation, QuinnBet strengthened its AML policies and procedures and improved how it identifies and responds to indicators of gambling harm.
Gambling Commission Issues Warning
John Pierce, the Gambling Commission’s Director of Enforcement, said:
“This case highlights the serious consequences of relying on systems and controls that are unable to identify and respond to indicators of harm and financial crime quickly enough.
“We expect operators to ensure their safeguards are effective in practice to protect consumers and keep crime out of gambling.”
Pierce said QuinnBet had recognised the problems and acted to improve its systems.
“This included strengthening their AML policies and procedures and improving how they identify and respond to indicators of harm.”
He added:
“We expect operators to learn from this case and read the public statement to ensure that they do not make the same mistakes.”
The regulator’s message to the online gambling industry is clear: safeguards aren’t enough if operators fail to identify potentially harmful activity when it matters.
The post 11,800 Bets In 48 Hours: QuinnBet Hit With £609k UKGC Settlement appeared first on BingoDaily.