A High Court action accuses the company of enabling a problem gambler by allowing him to gamble large sums and failing to place restrictions on his account. The customer, Simon Rose, has accused the bookmaker of allowing him to place over two million dollars in bets over the course of seven months.
A High Court action accuses the company of enabling a problem gambler by allowing him to gamble large sums and failing to place restrictions on his account. The customer is allowed to gamble up to £18k per day.
The customer, Simon Rose, has accused the bookmaker of allowing him to place over two million bets over the course of seven months. He gambled an average of $21,135 per day on the days he gambled. During the seven month period, his losses came to over two hundred thousand dollars.
Rose was given a deposit limit of over twenty thousand dollars despite his take- home pay being just over three thousand dollars a month. According to the High Court action, this was a clear failure on the part of the company to protect its customers from the harms of problem gambling while also breaching anti-money laundering guidelines. According to the action, Ladbrokes should have monitored his levels of excessive betting and should have contacted the customer, placed restrictions on his account, and verified his source of funds.
According to Rose, Ladbrokes did not check his source of funds or communicate with him about any potential problem gambling issues until his losses reached $100,000. He had borrowed money to place bets and was gambling more than he was able to afford. Rose claimed that he had to place a £1,000 weekly deposit limit on his account by himself and that this was allowed to increase to £20,000 per day within a few months.
In May of 2016 Rose self-excluded herself from all gambling.
The bookmaker denied that it had violated any contractual terms.
The High Court action came just a short time after Entain was fined a record £17 million for repeated and unacceptable social responsibility. Similar to those highlighted in the legal action, these were license violations.
Over $50,000,000 in global gambling industry fines have been issued.