In a rare judgement, Sportsbet has been ordered to refund almost $100,000 to a man who had “self excluded” from gambling, but was still allowed to open an account and lost a fortune. The gambler wagered almost $150,000.
Self exclusion is designed to prevent problem gamblers from relapsing.
However advocates say there are deep flaws in the system.
The individual in question claims to have attempted to continue playing and the company failed to cross-match his details and allowed him to do so.
The man is referred to as Mr XXXX in the decision handed down last week by the Northern Territory Racing Commission.
Fitch Ratings Pumping the Brakes on a Quick US Sportsbook Recovery
Fitch Ratings Inc., widely considered one of the “Big Three credit rating agencies” in the United States has weighed in on what it thinks will be the pace of recovery for the US sports betting industry. Their picture isn’t as rosy as many would think. According to Fitch, the recovery won’t be as quick as hoped and “will be slowed by economic headwinds and operating and travel restraints stemming from the coronavirus pandemic that are expected to linger into 2021, resulting in a u-shaped recovery.”
“Fitch reviewed its US gaming universe in the span of four weeks, as the coronavirus outbreak intensified. Credit implications have been negative, with higher leverage forecasts resulting in the widespread revision of Rating Outlooks to Negative,” their report detailed.
– Aaron Goldstein, Gambling911.com