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Betit Operations Limited

Account number

39482

Head office address

@GiG Beach, Triq id-Dragunara,
St. Julians, STJ 3148, Malta

Regulatory settlements

Following an investigation into a licence holder we may enter into a regulatory settlement. These take place, for example, where the licence holder has been open and transparent with us and has shown a willingness to suggest actions that prevent the need for a more formal sanction.

Settlement details

Decision date: 15 May 2019

The Commission carried out an investigation into Betit Operations Limited, which identified weaknesses in its anti-money laundering and customer interaction controls.

The investigation found breaches of:

  • Licence condition 12.1.1.1

  • Licence condition 12.1.1(2) and 12.1.1(3)

  • Licence condition 12.1.2

  • Licence condition 1.2.1

  • Licence condition 15.2.1

The investigation also found a failure to comply with:

  • Social responsibility code 3.4.1

Betit acknowledged its shortcomings at an early stage.

In line with our Statement of principles for licensing and regulation, Betit has agreed a regulatory settlement consisting of:

  • A payment in lieu of financial penalty of £1,400,000 which will go to National Responsible Gambling Strategy project(s) to pay for research and treatment,

  • The voluntary placing of additional conditions on Betit’s operating licence under section 117(1)(b) of the Gambling Act 2005,

  • Agree to the publication of a statement of facts by the Commission, and

  • Payment of £18,732 towards our investigative costs

For more information, please see the Commission’s public statement, which can be found on our website.