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Bet365 has been fined A$2.75 million

ONLINE GAMBLING OPERATOR FINED $2.75 MILLION IN AUSTRALIA
 
Bet365 hammered by the Australian Competition and Consumer Commission regarding false claims of free bets for players.
 
The Australian operation of UK online gambling giant Bet365 has been fined A$2.75 million following legal action by the Australian Competition and Consumer Commission (ACCC) over false claims of free bets for new customers.
 
The publication Business Insider Australia reported Friday that the penalty was handed down after the Federal Court found in September last year that Bet365s “$200 free bets to new customers” in Australia between March 2013 to 13 January 2014 was misleading and deceptive and involved false representations because the fine print of the offer was not easily apparent.
 
To receive the free cash, new customers had to deposit A$200 of their own money and gamble it before receiving the A$200 free bet. They then had to gamble their money and the bonus three times before they could withdraw any winnings, meaning punters had to gamble at least A$1200 before getting any money back.
 
The hefty fine represents just under 10 percent of the companys Australian revenue of A$29 million to March 2014.
 
Rod Sims, the head of the ACCC said the fine was a warning to businesses to not promote “free” offers without prominently disclosing the conditions attached to them.
 
“The ‘free bets offer by Bet365 was aimed at enticing customers, particularly new customers who had not previously used such types of services and who were drawn into what the judge described as a ‘web of deception,” Sims said.
 
Justice Beach of the Federal Court concluded last year that Bet365 conduct involved a significant element of recklessness.
 
In responding to the judges decision, Bet365 issued a formal statement expressing regret and explaining that the offer was the result of an unintentional software error which has since been corrected.
 
“Bet365 has introduced stricter compliance processes and controls, as well as improved staff training to prevent a similar issue arising again,” the company advised.

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Gambling News :

South Africa Going After Illegal Gambling - In South Africa a combined national police and federal enforcement initiative has shuttered 19 illegal gambling venues across the provinces of Northern Cape and North West.

The Winning Express arbitrage sports betting scheme - A UK-based GBP 27 million arbitrage sports betting scheme, The Winning Express, has collapsed, leaving a thousand investors with concerns that their money is lost, according to a BBC report over the weekend.

Global Poker League Championship Results - #gpl The inaugural season of the Global Poker League Championship played out this week with the Montreal Nationals besting the Berlin Bears across 11 games to claim the $100,000 main prize.

Yahoo DFS Gets Uk License - #yahoo Industry observers point out that Yahoo has thus far carried out little in the way of major marketing on DFS in its US endeavors, unlike rivals DraftKings and FanDuel, and they expect it to follow a similar path in the Britain.

SPANISH GAMBLING MARKET CONTINUES TO GROW - Spain's gambling industry continued to advance in 2015 with growth in most sectors, according to the latest research report from the Codere - University of Madrid Institute for Policy and Governance collaboration released this week.

Novomatic Acquires Albanian National Lottery - #Novomatic The Austrian gaming technology group Novomatic has issued a statement confirming that it has completed the final required steps for the successful acquisition of the Albanian National Lottery.

2016 Massachusetts Gaming Commission Report - Industry journalist Steve Ruddock picked up on some interesting statistics from the latest annual report of the Massachusetts Gaming Commission released this week, flagging the current results from its on-going monitoring research of the state gambling market.

Jack Lam denies bribe allegations - Allegations by Philippines Justice Secretary Vitaliano Aguirre that casino tycoon Jack Lam used 'facilitator' Wally Sombero in an attempt to bribe him into protecting Lam interests have been hotly denied by Lam.

Fonbet Gets Russian Betting License - #Fonbet Russian-licensed operators are required to use officially sanctioned payment hubs called TSUPIS to facilitate government oversight, and this may be a concern for Fonbet at present.

New Attempts to Restore the Wire act - In the first of these initiatives, which Online Poker Report notes is supported by only eight state AGs (half those who signed a similar letter last year), the signatories seek support for RAWA at a Congressional hearing scheduled for December 9.

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