The online casino operator received a harsher penalty as previous violations compounded the newly discovered regulatory breaches.
Social responsibility failures and AML violations motivated the UK Gambling Commission (UKGC) to issue Videoslots a substantial £2 million ($2.53 million) fine. The penalty reflects Videoslots’ repeated misconduct and the AML’s commitment to enforcing stringent regulations and upholding responsible gambling practices. The operator acknowledged its shortcomings, vowing to implement urgent updates and bring its player protection mechanisms to the industry standard.
The Operator Ignored Repeated Warnings
According to the UKGC’s investigation, Videoslots failed in several vital areas. Between November 2021 and January 2022, a customer lost nearly half of his deposited £112,225. Signs like long gambling streaks continuing into the early hours and losses exceeding safe thresholds should have triggered several fail safes, but the operator let such behavior continue for months.
Social responsibility failures and AML violations motivated the UK Gambling Commission (UKGC) to issue Videoslots a substantial £2 million ($2.53 million) fine. The penalty reflects Videoslots’ repeated misconduct and the AML’s commitment to enforcing stringent regulations and upholding responsible gambling practices. The operator acknowledged its shortcomings, vowing to implement urgent updates and bring its player protection mechanisms to the industry standard.
The Operator Ignored Repeated Warnings
According to the UKGC’s investigation, Videoslots failed in several vital areas. Between November 2021 and January 2022, a customer lost nearly half of his deposited £112,225. Signs like long gambling streaks continuing into the early hours and losses exceeding safe thresholds should have triggered several fail safes, but the operator let such behavior continue for months.