Betway let a few too many “VIPs” lose a lot of money very quickly, and the UKGC has given them a bill for it.
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| Failure to do due diligence |
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The Story
The U.K. Gambling Commission’s (UKGC) has ordered Betway to pay a record £11.6m settlement for accepting stolen funds and ignoring cases of gambling addiction. The regulator cites an instance where Betway failed to do their due diligence on a “VIP” customer who deposited £8 million and lost £4 million over a four-year period. It also cites a separate incident where Betway allowed a player to lose £187,000 over a two-day period. Even with the punishment in place, not everyone is happy as some critics suggest the UKGC didn’t go far enough.
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Seamless, cashless payment options, directly from the bank account, is making casino experiences better and online operations more efficient.
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Unwriter has released Bitbus 2.0, an efficient indexing service for the Bitcoin SV ledger. Bitbus 2.0 essentially deprecates the older Planaria APIs as the increased transaction volume has revealed the flaws in its design.
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Based on developments in the last 24 hours, relating to the travel advisory issued by the Indian government dated 11 March 2020, which cancels all existing visas for foreign nationals except diplomatic and employment visas until 15 April 2020 to curtail the COVID-19 impact, Eventus International has concluded that unfortunately, it is impossible to continue with SPiCE India 2020 as per its current schedule of 25-27 March 2020.
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What we learn with pleasure,
