The first six months of 2024 saw global gambling regulators issue fines totaling $85.3 million (£67 million / €79.3 million) marking a 12.1% increase on the same period in 2023, according to our Gambling Fines & Sanctions Tracker
The majority of financial penalties stemmed from anti-money laundering (AML) and social responsibility failures alongside various breaches of gambling operators’ licensing conditions.
Australian gambling regulators were responsible for the highest total of fines with $44.9 million across the first half of the year.
The largest financial penalty was the AU$67 million fine ($44.6million / £34.9 million / €41 million) levied on SkyCity Adelaide Pty Ltd following proceedings initiated by the Australian Transaction Reports and Analysis Centre (AUSTRAC).
2024 H1 Gambling Industry Fines
- Total Amount Fined – $85,341,397 / £67,020,682 / €79,361,467 – up by 12.1% year-on-year
- Number of Fines – 21
- Largest Fine – $44,647,948 / £34,922,827 / €41,538,557
Fines by Country
- Australia – AUD$67.5 million / $44.9 million / £35.1 million / €41.7 million
- Netherlands – $21.6 million / £17.1 million / €20 million
- UK – $8.3 million / £6.5 million / €7.7 million
- United States – $7.8 million / £6.1 million / €7.25 million
- Italy – $1.4 million / £1.1 million / €1.35 million
- Sweden – $1.06 million / £838,646 / €986,201
Figures for the first half of 2024 have dropped by 77% compared to the second half of 2023. However, 2023’s second half figures were largely inflated by the settlement agreed by Crown Resorts and The Australian Transaction Reports and Analysis Centre (AUSTRAC) that saw the casino operator pay AU$450 million ($309.9 million / £244.5 million / €275.3 million).
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.
The gambling industry has been under scrutiny in recent years for various reasons, including concerns about problem gambling and money laundering. In the first half of 2024, the industry saw a significant increase in fines levied against gambling operators, with a 12.1% rise compared to the same period in the previous year.
According to data from the UK Gambling Commission, the total amount of fines issued to gambling operators in the first half of 2024 reached £19.6 million, up from £17.5 million in the first half of 2023. This increase comes as regulators continue to crack down on operators who fail to meet their obligations to protect consumers and prevent harm.
One of the main reasons for the rise in fines is the increased focus on responsible gambling measures. Regulators are increasingly holding operators accountable for ensuring that they have effective tools in place to identify and support problem gamblers. This includes measures such as self-exclusion schemes, limits on deposits and stakes, and robust age verification processes.
In addition to responsible gambling issues, regulators are also clamping down on money laundering in the gambling industry. Operators are required to have stringent anti-money laundering procedures in place to prevent criminals from using their platforms to launder illicit funds. Failure to comply with these regulations can result in hefty fines and even the revocation of a gambling operator’s license.
The increase in fines levied against gambling operators highlights the growing importance of regulatory compliance in the industry. Operators must ensure that they are meeting their obligations to protect consumers and prevent harm, or risk facing significant financial penalties. As regulators continue to tighten their grip on the industry, operators will need to invest in robust compliance measures to avoid falling foul of the law.
Overall, the rise in fines in the first half of 2024 serves as a stark reminder to gambling operators of the consequences of failing to meet their regulatory obligations. With regulators showing no signs of letting up, operators must prioritize compliance to avoid costly penalties and reputational damage.
