By 
Ladbrokes, one of the UK’s largest bookmakers have agreed to pay almost £1M in compensation to 5 victims of a problem gambler, in return for not informing the authorities.A British Citizen, who ran a property business in Dubai, stole money from clients to assist his high roller gambling addiction, which could see him spending up to £60,000 per day.Ladbrokes had showered the player with expensive gifts including business class flights from Dubai to watch a football match, boxing match tickets and invitations to Royal Ascot. Not only that, he received lavish gifts on his Birthday and had £3,500 credit added to his account along with bonuses for betting.
Victim Complaints
Five victims made complaints to Ladbrokes for accepting stolen funds, they agreed to pay a sum of £975.000 combined, on the proviso they didn’t speak to authorities.The UK Gambling Commission have said “ We are enquiring in to this matter to ascertain the full circumstance”.“We have clear expectations of all operating and individual personal management licence holders, we expect them to work with us in an open and cooperative way including the need to disclose to us anything which we would reasonably expect to know”.A Ladbrokes Spokesman said, “ We are cooperating with the gambling commission where necessary and have no comment at this time”, as reported by The Guardian.
Gambling Problem
The addict claimed to have had a discussion with his account manager, fearing he had a gambling problem and he wanted to give up, although there is no evidence to date this conversation took place.The messages between the account manager and the addict raised concerns with the company’s compliance and regulatory policy, set in place to prevent money laundering and problem gambling.The addict who wished to remain anonymous said, “The scary thing is, that the increase in time and money I spent gambling was huge. I cannot believe it was not noticed and checked. I should have been asked questions.To make matters worse Ladbrokes made me part of the settlement that I never wished to be part of and I had to leave rehab to sign it. I never asked or received a penny, I lost my home, my family and my business because of my gambling”.The addict is still receiving on going treatment for his addiction.If you feel you have a problem with gambling or know someone that does, please get in touch with www.gambleaware.co.uk