BetVictor Surviving Its 2022 Fine and Moving Forward

BetVictor is one of the oldest bookmakers in the world, with the company itself being founded as a family business after World War II.

It changed its areas of focus a lot over the decades before finally concentrating on online betting at the end of the 90s.

Today, BetVictor is a large bookie with multiple offers, both in the betting and gambling sectors. Ironically, what made it truly famous was a fine.

A few years ago, it sustained one of the harshest blows ever: it was fined by the UK Gambling Commission for a sum of over $2 million for failing to meet safety standards.

You can also find a detailed BetVictor review on our website if you want to learn more about this bookmaker and how it operates today.

What happened then, and what is happening to BetVictor now? Stick around as we investigate.

BetVictor Before Its 2022 Fine

BetVictor operates in the United Kingdom, which is one of its longest-standing markets, as well as in Gibraltar, Canada, and several European countries.

For people wondering if this bookie is safe — yes, it is, or at least it was supposed to be.

BetVictor held a license from the UK Gambling Commission and from Gibraltar, allowing it to operate across different jurisdictions.

Earning these licenses meant that BetVictor was deemed a safe bookmaker with a commitment to responsible betting, safe payment methods, honest policies, and transparent KYC mechanisms.

Based on user reviews prior to 2022, BetVictor was doing fine for two decades. It faced some small issues, like complaints about withdrawals taking too long or the sports betting bonus rules being unclear.

However, nothing serious happened up until April 2020, when the Gambling Commission in the UK decided to perform a regulatory BetVictor review.

BetVictor Fined for Over $2 Million

When the UK Gambling Commission started its investigation into BetVictor, it quickly discovered multiple issues with its commitment to responsible gambling and betting mechanisms and money laundering.

In case you forgot, BetVictor was licensed by this specific authority, which means that it was bound to follow the established rules that allowed it to operate on the territory of the UK.

However, the Gambling Commission’s report revealed that BetVictor:

• Failed to monitor its high-risk betters properly, allowing people with a history of accumulating debts to place erratic bets without activating reality check-ins and other important safety mechanisms.
• Ignored the fact that some of its users created multiple accounts to circumvent the bans after being previously placed in the high-risk category.
• Showed no interest in properly reviewing its new users’ accounts, which allowed multiple people to make deposits and place bets without proving where they got the funds to afford it.

In fact, it was revealed that BetVictor held meetings to review its top 25 high-risk bettors, and despite the obvious evidence of their overspending, it chose to do nothing.

As the director of the Gambling Commission commented, “BetVictor failed people and authorities who put trust in it.” This noncompliance resulted in a huge fine that surpassed $2 million.

BetVictor After the 2022 Fine

The investigation that lasted for two years and ended with a reputation-damaging fine has certainly left a negative impact on BetVictor’s public image. However, the bookie accepted its faults and readily settled its fine.

After that, it opted to lie low for a while, but starting in 2023, it began to expand its area of operations again.

The repeated checks showed that it has strengthened its responsible betting systems, and that as soon as a user is believed to act in a risky manner, they are immediately singled out and temporarily removed from the platform.

BetVictor decided to offer more sports sponsorships, including to the World Snooker Tour and Canadian Elite Basketball League, so it maintained its steady presence in the UK and other countries.

The example of this bookmaker demonstrates that despite the difficulties and serious mistakes, it’s possible to recover as long as you admit you’re at fault and show determination to move forward.

If you’d like to see what BetVictor is up to now, and what kind of sports betting promos and bonuses it offers, you can check its complete overview on this site.

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