Gambling industry fines drop by 73.3% across 2024
Gambling fines meted out by industry regulators across the world last year reached $184.4 million, resulting in a fall of 73.3% from the 2023 level of $442.6 million.
The drop from that record-breaking sum is a better marker for the industry, but research from Gambling Industry News shows the number of fines actually increased from 70 to 94.
Spain topped the list as the most punitive country for gambling fines with its Ministry for Consumer Affairs hammering online operators with fines of €65,325,000 ($68.09m). The vast majority, 13 out of 15 penalties, were for operating in the Iberian nation without the relevant license.
The fines issued last year mean Spain has reached a total of $398 million in penalties since 2021.
In second and third place on the list were Australia and the Netherlands, respectively.
Australian regulators saw fines drop significantly from $311.4m in 2023 to just $58.5m last year, with one entity responsible for most of the total. Regulators probed SkyCity Adelaide Pty Ltd, leading to a bumper $44.6m fine decreed by the Federal Court of Australia.
In the Netherlands, a similar situation unfolded with one incident making up the majority of the total. The Dutch Gambling Authority (Kansspelautoritet) slapped a $21.3m fine against Gammix Ltd for illegal gambling practices, a record penalty for the body as part of $25.7m collected in full across 2024.
Penalties issued in the US and UKThe United States and the United Kingdom were placed in fifth and sixth place, respectively, on the list of gambling fines.
In the States, the gaming commission levied fines of $9.4m, with MGM Resorts found to be the main culprit. It was hit with a penalty of $7.5m in relation to illicit sports betting operations.
On the other side of the Atlantic, the British Gambling Commission lifted $8.4m (£6.6) in fines across 2024, significantly reduced from the £214.2 figure the previous year.
The UK regulator dished out the biggest penalty to Gamesys Operations Ltd with a $7.6m (£6m) punishment issued for failings on social responsibility and AML requirements.
Image credit: Via Unsplash
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