The UK-based wagering platform Betfair was recently hit with a substantial penalty of SEK 4 million (approximately $389,000) by the Swedish Gambling Authority (Spelinspektionen). Their transgression? They permitted wagers on contests within Sweden’s U21 youth soccer league, a definite violation of Swedish regulations implemented in 2021.
An inquiry initiated on January 31st, 2023, confirmed that Betfair had indeed been providing these forbidden betting opportunities. From 2021 to 2022, they facilitated wagering markets for a significant 148 U21 league matches.
And individuals were participating! The inquiry disclosed that 224 Swedish patrons placed bets amounting to SEK 1.1 million (roughly $104,000) on these games.
Betfair has acknowledged their error, conceding that an oversight in their protocols resulted in this mistake. They clarified that manual verifications are occasionally required to sift betting choices, and that’s where the process faltered.
In direct response to the penalty, Betfair has removed all wagering options for U21 teams across its Swedish platforms. However, they didn’t halt there. They’ve also prohibited bets on all remaining Swedish football clubs, excluding those in the highest two professional leagues, as an added precaution.
The UK Gambling Commission issued a substantial penalty to Betfair, even though the operator had taken steps to avoid future breaches.
Although there are options to waive penalties in specific situations, the Commission determined that Betfair’s infractions were too serious and prolonged to warrant any clemency.
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