Gambling Commission hits independent firm Corbett Bookmakers with £686,070 penalty

An independent bookmaker has been hit by a £686,070 penalty from the Gambling Commission following an investigation which the regulator said revealed social responsibility and anti-money laundering (AML) failings.

The commission said that Corbett Bookmakers, which runs 36 betting shops, will also undergo a third-party audit to ensure it is effectively implementing its AML and safer gambling policies, procedures and controls.

The failures were revealed during a two-day Commission compliance assessment and covered the period between February 2022 and May 2024.

The commission said social responsibility failures included failing to identify a consumer who staked £23,674 in a 13-day period as someone who might be at risk of or experiencing harms associated with gambling.

In terms of AML, the commission said customers were able to stake and lose significant sums without the bookmaker being in receipt of sufficient know-your-customer evidence, or being able to verify the source or legitimacy of funds due to high financial thresholds.

In one case, the commission said, a customer was able to stake approximately £47,000 and lose £14,000 during an eight-month period without the firm verifying the legitimacy of the monies accepted from the customer.

The Gambling Commission's director of enforcement John Pierce said: “This operator has failed to adhere to vital regulations designed to make gambling safer and free from criminal activity. As a result, it will not only pay a significant fine but also undergo a rigorous audit to ensure full compliance with anti-money laundering and safer gambling measures.

"In addition to the remedial actions already taken, we expect the operator to swiftly and fully implement the audit recommendations, demonstrating clear and measurable improvements in both policy and practice. Failure to do so will prompt our compliance team to reassess the situation and take further action as necessary.

"All operators should carefully consider this case and the price this operator is now paying.”

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