Bet365 fined by British Gambling Commission for money laundering, vulnerable customer failures

British companies have been investing millions into the US since a Supreme Court decision in 2018 allowed states to set their own laws on betting and gambling, which sparked an explosion of demand.

However, some have struggled with profitability and difficult levels of competition. The parent company of William Hill, 888 Holdings, said last month that it was considering a sale or exit of its US consumer business because of high costs and red tape.

As well as owning Bet365, Coates’ family are backers of the Stoke City Football Club. Her father Peter is the chairman, and the family owns the team’s stadium in Stoke.

A prominent patron of the arts, Coates has a wing of the Courtauld Gallery in London named after her. There is no suggestion of any wrongdoing by Coates.

Executive director of operations at the Gambling Commission, Kay Roberts, said: “The policy and procedural failings may not have been as severe as those at other gambling businesses in recent years but they were failings nonetheless.

“We expect high standards from operators in terms of keeping gambling safe, fair and crime-free, and will always take action to correct any failings. This operator is very aware that a repeat of these failings will result in escalating regulatory action.”

Bet365 was approached for comment.

The Telegraph, London

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