Bet365 Might Cause Financial Ruin for Families

By Matt Speakman,
Betting Expert at online-gambling.com

Matt Speakman Betting Expert at online-gambling.com

A die-hard fan of the Patriots, Matt Speakman is an expert on everything related to sports betting and DFS sites. Over the years, he has proven a valuable asset for our team at online-gambling.com. You can find Speakman's professional tips and tricks in any of his many articles on the website.

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Last updated: January 15, 2022

Bet365 has not done any modifications to rescue betting addicts on their platform. The bookmaker has grown a lot, and the CEO won the bonus. In a report by the Behavioral Insights group, gambling companies had asked to withdraw their claims. The authors say that caps force clients to set much higher caps and suggest that they be removed.

Critics argue that Bet365 runs the risk of causing financial harm to families by failing to implement its betting addiction protection guidelines.

Investigators working with the organization discovered that a minor change to the company’s website would prevent overspending.

But almost a year after the Bet365 report failed to make a move, critics blamed the company for “putting profit over users.”

The online bookmaker has seen tremendous development; it allowed billionaire CEO Denise Coates to be paid £ 469 million in just one year, a record for a top British executive.

Massive Deposit Limits

In an investigation by the Behavioral Insights Team (BIT), an organization that advises the Cabinet of Ministers, gambling companies had asked to remove requests pointing to huge deposit limits.

Limits allow players to voluntarily limit the amount of money they can deposit into their account in any given month.

However, the authors say the limits are too high for clients to set much higher limits and suggest that they be dismissed.

However, during the week, Bet365’s website allows users to cap £ 500,000 in just one month. In response, the £ 2.8 billion bookmakers said the change would take effect in the following months.

Caroline Harris, chair of the Party Parliamentary Gambling Damage Group, said that Bet365 runs the risk of ruining family finances by offering clients stupid and unacceptable deposit restrictions.

She added that it is incomprehensible to put profit over people and make huge differences, even when your clients submit data.

Advises From Dr. Philip Newall

Dr. Philip Newall, a member of the Safe Gaming Advisory Board who recommends the betting Council, said: “The industry claims to be doing something based on evidence alone, but this is research. Fieldwork showed what I could do, but Bet365 couldn’t apply the results in practice.”

The Behavioural Insights Team report showed that clients who were not granted an overly high limit set their average deposit limit of £ 866, 45% lower than in the past.

These players also contribute nearly a fifth less, up to £ 1,020 a year. Although, the research authors warn that they cannot rule out the possibility that the discovery was accidental due to the limited sample size.

Bet365 reports: “Since the report was published, Bet365 has continued to introduce developments and enhancements to its industry-leading safer gambling strategy and practices, and the change regarding deposit limits referred to is scheduled to be implemented in the coming months.”

User deposit limitations are just a part of the player selection system that Bet365 presents, which also includes reality checks, self-exclusion, and time-outs.

Denise Coates’ salary of £ 469 million raised 45% last year. Her pay packet is also 699 times higher than what Bet365 donated to GambleAware, a charity, which is helping to lower the damage done by gambling in the UK through the scheme.