Gambling Commission fines Corbett Bookmakers £686,070
The UK Gambling Commission has imposed a substantial fine of £686,070 (€818,039/$890,568) on Corbett Bookmakers, a prominent land-based operator, following an extensive investigation that revealed significant breaches in social responsibility and anti-money laundering (AML) protocols.
The Commission disclosed details of the case on March 20, indicating that the infractions occurred between February 2022 and May 2024. Corbett Bookmakers operates an extensive network of 36 premises throughout the UK, including several betting pitches located at key UK racecourses.
In addition to the financial penalty, the operator is mandated to conduct a comprehensive third-party audit to evaluate its adherence to AML measures and social responsibility guidelines. This audit must be completed within 12 months of the ruling date (March 6).
Failure to Protect Vulnerable Players
The investigation highlighted egregious failures related to social responsibility. For instance, compliance assessments conducted over two days revealed that Corbett Bookmakers neglected to identify a consumer who had staked a staggering £23,674 within just 13 days—an alarming indicator of potential gambling-related harm.
Additionally, the operator’s interactions with high-risk players were alarmingly insufficient. One individual lost £3,523 after placing 56 bets over a brief four-hour interval, and another customer, who staked £47,416, experienced a loss of £6,741 within just ten weeks without appropriate intervention from Corbett.
AML Compliance Breaches
Serious deficiencies also emerged in Corbett Bookmakers’ AML practices. The Gambling Commission pointed out that players were allowed to wager and lose considerable sums without sufficient Know Your Customer (KYC) checks or verification of their sources of funds. For instance, one customer staked £47,000 and lost £14,000 over eight months without any due diligence conducted by Corbett regarding the legitimacy of the deposited funds.
Furthermore, the Commission denounced Corbett’s approach to its money laundering and terrorist financing risk assessment, noting that it inadequately addressed various dimensions of customer profiles, products, geographic contexts, and payment methods. Such oversight demonstrated a failure to adopt a sufficiently risk-based approach to AML compliance.
Regulatory Violations Detailed
The Gambling Commission specified multiple regulatory breaches in its findings, including violations of paragraphs 1 and 2 of Licence Condition 12.1.1, which pertains to the prevention of money laundering and terrorist financing. It also cited several social responsibility code provisions (1a, 1b, 1c, and 2 of 3.4.1) concerning customer interaction, and Ordinary Code Provision 2.1.2 regarding AML standards.
A Cautionary Tale for the Industry
In a statement following the ruling, John Pierce, the director of enforcement at the Gambling Commission, emphasized the necessity for other operators to heed this warning and elevate their compliance measures. “Corbett’s significant regulatory failures jeopardize the safety of gambling activities and undermine efforts to prevent criminal involvement,” said Pierce. “Consequently, they face not only a hefty fine but also the requirement to undergo a thorough compliance audit focused on AML and player safety.”
Despite cooperating fully throughout the inquiry and initiating corrective measures, Corbett is compelled to implement all recommendations from the impending audit. Pierce cautioned that any failures to comply will lead to further scrutiny and potential repercussions.
“It is critical for Corbett, and indeed all operators, to swiftly enact these audit recommendations, showcasing tangible advancements in both policy and operational practices,” Pierce concluded. “This case is a stark reminder of the consequences of non-compliance.”
Corbett Bookmakers becomes the second operator this month to incur a financial penalty from the Commission, following AG Communications (operating under Aspire Global), which was fined £1.4 million for similar social responsibility and AML violations.
