Betting above his means
A UK bettor has started a High Court suit against Ladbrokes, a sub-brand of global gaming giant Entain. He blames the operator for not putting the brakes on problem gambling behavior that led him to lose £1.8m ($2.1m) over a seven-month stretch.
an initial deposit limit of £20,000 ($23,484)
Simon Rose’s suit against Ladbrokes emerged in the UK press on Sunday. It centers around his 2015-2016 losses, at which time he was earning £3,000 ($3,522) a month. Rose argues that despite his monthly pay, Ladbrokes gave him an initial deposit limit of £20,000 ($23,484). The suit cites this as the first instance of Ladbrokes not meeting its responsible gambling requirements.
The bettor is of the opinion that the high-street sportsbook brand, which runs 2,746 shops in the UK, should have monitored his account more effectively. Had Ladbrokes done this, Rose contends, it would have actioned contact earlier, checking source of funds or placing restrictions on his account.
Too little, too late?
While Rose admits the UK gambling firm eventually reached out, he believes it came too late — £100,000 ($117,412) in losses too late. After Ladbrokes then allegedly learned that Rose was spending more than he earned and borrowing money to bet, the platform permitted him to set a deposit cap of £1,000 ($1,174) a week.
Rose indefinitely self-excluded from Ladbrokes
The bettor then states, however, that by April 2016, Ladbrokes had allowed his deposit limit to creep back up to the original £20,000 ($23,484). Rose indefinitely self-excluded from Ladbrokes the following month.
The bettor is now seeking a full monetary return of all his wagers, which were made in the UK and the United Arab Emirates. According to The Times, Ladbrokes “denied breaching any contractual terms.”
Tough times for Entain
Concerningly for Entain, Rose’s action could prompt similar suits from individual bettors if successful.
The suit also adds to the company’s recent list of woes. The UK Gambling Commission (UKGC) recently slapped the Isle of Man-headquartered owner of PartyPoker, Coral, and Sportingbet with its record financial penalty of £17m ($19m).
The UKGC fined Entain on August 17 for anti-money laundering and social responsibility failures. Entain has to fork out £14m ($16m) for failures at LC International, which operates 13 websites, and £3m ($3.5) for breaches at Ladbrokes.