The Swedish gaming authority, Spelinspektionen, has issued a substantial penalty of SEK 4 million (roughly $389,000) to Betfair. This sanction follows Betfair’s acceptance of wagers on matches within Sweden’s U21 youth soccer league, a significant violation of rules implemented in 2021.
An inquiry initiated by the regulatory body in early 2023 revealed that Betfair had indeed been permitting these forbidden bets between 2021 and 2022. During this timeframe, a sum of 148 U21 league games were accessible for wagering on Betfair’s platform. Data showed that 224 Swedish users placed bets on these matches, amounting to SEK 1.1 million.
Betfair has acknowledged the error, attributing it to an oversight in their standard protocols for vetting events open for betting. Consequently, they have taken corrective measures by eliminating all wagering choices for Swedish U21 teams from their Swedish websites. Furthermore, they have prohibited betting on all Swedish football clubs except those competing in the top two professional divisions.
The UKGC levied a substantial penalty against Betfair, citing significant compliance failures. Although recognizing Betfair’s efforts to mitigate future occurrences, the Commission emphasized a zero-tolerance policy towards such infractions.
Betfair seemingly attempted to avoid the sanction, but the regulatory body stood firm. They underscored that the gravity and length of the transgressions necessitated a forceful reaction.
