Regulators fine offending gambling companies £24m

Fines imposed upon gambling companies globally reached £24m (€27.8m) in the first quarter of 2021, statistics show.

This is 54 percent of all of the fines imposed in 2020, according to a report released by financial news service Finbold.

The data comes only from regulated markets and is over half-way to the previous year’s total of £44.71m. February showed a total of £14.95m up 712 per cent from the January figures of £1.84m. In March, the fines totalled £7.43m.

The report concluded: “The rising fines are an indicator that regulators are adapting to the changing landscape of the gaming industry. In recent years, authorities have continually proposed changes to existing laws to coincide with the evolving market. Most specifically, authorities are aligning laws to match the digital shift.”