🎲 Netbet Enterprises Limited

A regulatory review under section 116 of the Act was commenced following a Compliance Assessment (the Assessment) of the remote Operating Licence of Netbet Enterprises Limited (the Licensee) (licence number 039170-R-319343-028). The review found failings in the Licensee’s Anti-Money Laundering / Counter Terrorist Financing (AML/CTF) and Social Responsibility (SR) controls. The failings related to the Licensee’s online casino and betting activities. The Licensee failed to comply with the following Licence Conditions and Codes of Practice (LCCP) over varying periods between 3October 2023 to July 2024: paragraphs 1, 2 and 3 of Licence Condition (LC) 12.1.1 which requires licensees to ensure they have an appropriate risk assessment, policies, procedures and controls  to prevent Money Laundering (ML) and Terrorist Financing (TF). The Licensee must also ensure that ML policies, procedures and controls are implemented effectively, kept under review, revised appropriately to ensure that they remain effective, and take into account any applicable learning or guidelines published by the Gambling Commission.paragraphs 1, 2, 5, 10, 11 and 14 of Social Responsibility Code Provision (SRCP) 3.4.3 relating to remote customer interaction.SRCP 3.2.11 - Remote SR codeSRCP 5.1.9 - Other marketing requirementsLicence Condition 15.3.1 - General and regulatory returns In line with our Statement of Principles for Licensing and regulation, the Licensee will make a payment in lieu of a financial penalty of £650,000. Details of this are set out under the heading Regulatory Settlement. Further information about this case can be found on the Gambling Commission’s public statement, which can be found here:  NetBet Enterprises Limited Public Statement

NetBet Enterprises Limited to pay £650,000 for regulatory failures 05 November 2025 An online gambling business is to pay £650,000 and undergo an independent audit after a Commission investigation revealed anti-money laundering and social responsibility failures. NetBet Enterprises Limited – which runs netbet.co.uk – will pay the money as part of a settlement with the Commission. All £650,000 will go to socially responsible causes. Anti-money laundering failures included: the licensee was over reliant on financial triggers, with examples of customers being able to spend disproportionally to their net income there were examples of significant gambling activity taking place, where concerning behaviours were demonstrated by customers, however the operator still considered them low risk the licensee's money laundering and terrorist financing risk assessment omitted some key risks, including the management of third-party business relationships, high stakes gambling and controls relating to third-country nationals residing in the UK. Social responsibility failures included: not implementing effective customer interaction systems and processes in a way which minimised the risk of customers experiencing harms associated with gambling indicators of harm - such as overnight play, velocity of deposits/exhausting limits and escalated gameplay - were not identified in a timely manner and were often only identified once a manual review had taken place. The operator also submitted inaccurate information when filing their regulatory returns. John Pierce, Commission Director of Enforcement, said: “This case highlights the serious consequences of failing to meet anti-money laundering and social responsibility obligations. We expect all operators to take note and ensure their systems are not only well-designed but are working effectively to protect consumers and to kee