UKGC warns operators

Two major high street bookmakers have removed products following a warning from the regulator.

UK.- The UK Gambling Commission warned two operators this week and they removed their products. Paddy Power Betfair and BetFred could still face regulatory action as the commission informed that it will keep investigating.

As the regulator said, a third bookmaker was poised to launch a new product and has also been warned. The UKGC may also investigate key senior staff at bookmakers who are responsible from bringing those products to the market.

The announcement follows a letter from the Commission’s Chief Executive Neil McArthur to bookmakers. He warned the industry against any attempts to circumvent the fixed odds betting terminals (FOBTS) stake cut. Furthermore, he reminded them of their responsibilities to ensure they protect their consumers. 

The UK introduced this week the reduction of the maximum stakes on FOBTS from £100 to £2. The UKGC warned operators that they should comply with the new regulators and that it will monitor them.

Richard Watson, Executive Director for Enforcement, said: “We have been absolutely clear with operators about our expectations to act responsibly following the stake cut implementation this week. We have told operators to take down new products which undermine the changes, and we will investigate any other products that are not within the spirit and intention of the new rules.”