By Ashley Young-
The UK Gambling Commission (UKGC) has issued guidelines to tackle fraudulent activities among operators in the industry.Settling bets correctly relates to the Commission’s social responsibility code provision 4.2.6. It follows information received by the Commission in relation to fraudulent activities by operators dealing with Horse racing bets . It has been revealed that a number of operators have been using alternate mechanics to settle bets, which would be in breach of legislation and licensing conditions.
The Commission has been informed that some operators have been applying Rule 4. Rule 4 relates to winnings being reduced in the case of a horse an individual backed winning, by withdrawing o other horses from the race, theoretically making it easier for the backed horse to win. The UKGC has warned operators about the use of Rule 4. © Pixabay in settling bets, but is not known to have punished any of the offenders yet.
Previously, the UKGC had cracked down on operators found to be applying Rule 4 to “deliberately shorten the odds of known or likely non-runners in order to maximise Rule 4 deductions for their own commercial gain to the disadvantage of gamblers. Corruption in the gambling industry is nothing new, but the extent of corruption that goes on unnoticed is the worrying aspect. Operators caught defrauding punters should be immediately sacked , fined, or both, warnings are not good enough.
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