The gaming authority in Sweden, Spelinspektionen, issued a substantial penalty of SEK 4 million (approximately $389,000) to Betfair. Their transgression? Permitting gamblers to wager on contests within Sweden’s U21 youth soccer league, a major violation according to gaming regulations implemented in 2021.
This situation came to attention when the regulatory body initiated an inquiry on January 31, 2023, revealing that Betfair had been overlooking these unauthorized wagers occurring within their platform. The inquiry disclosed that between 2021 and 2022, a significant number of 148 U21 league matches had wagers placed on them via Betfair’s system. Furthermore, 224 Swedish patrons participated, spending a combined total of SEK 1.1 million on these matches.
Betfair has acknowledged responsibility, conceding that an oversight in their internal procedures was the root cause of this betting error. They clarified that when wagers necessitate manual review, as in this instance, the likelihood of mistakes occurring is elevated.
To avert recurrence, Betfair has eliminated all betting choices for U21 teams across its Swedish websites. However, their actions extended beyond this measure. They implemented a broader ban on wagering on all Swedish soccer teams, excluding those competing in the top two tiers.
The UKGC emphasized that although Betfair has implemented measures to rectify its operations and avert future transgressions, they are still liable for a substantial penalty.
It appears Betfair attempted to evade the fine, a possibility for operators under specific conditions. However, the Commission rejected their appeal. They essentially stated that Betfair’s misconduct was too egregious and protracted to warrant leniency.
