Winner and Titanbet surrendered the licences

Pages: [1]
Author Topic: Winner and Titanbet surrendered the licences  (Read 911 times)
arbusers
Administrator
Totally Pro
*****

Karma: 411
Posts: 4163



View Profile WWW

arbusers

Winner and Titanbet surrendered the licences
« on: May 27, 2020, 10:03:46 AM »

Media reports that winner.co.uk and titanbet.co.uk, both operated by PT Entertainment Services (PTES) voluntarily surrendered their licenses for the UK market, as a UKGC investigation revealed serious systemic failings. The UKGC began the investigation after been contacted by the family of a gambling addict who took his own life, aged 25. It is reported that PTES VIP teams offered the victim a VIP status without conducting proper due diligence on his financial background.
Logged
ukbetting
Gaining experience
*

Karma: 0
Posts: 6


View Profile

ukbetting

Re: Winner and Titanbet surrendered the licences
« Reply #1 on: May 27, 2020, 03:31:08 PM »

this is pretty ridicolous, it seems they decide to close the betting industry using every excuse.
Logged
balls of steele
Gaining experience
*

Karma: 2
Posts: 81


View Profile

balls of steele

Re: Winner and Titanbet surrendered the licences
« Reply #2 on: May 28, 2020, 08:07:07 AM »

this is pretty ridicolous, it seems they decide to close the betting industry using every excuse.

The UKGC has a good ground in this case and that is why both bookmakers surrendered their licenses.
Logged
Jouban
Gaining experience
*

Karma: 2
Posts: 16


View Profile

Jouban

Re: Winner and Titanbet surrendered the licences
« Reply #3 on: May 28, 2020, 04:20:27 PM »

Responsible Gambling policies are a very important prerequisite for a serious bookie, that wants to operate globally, or at least have presence in the UK.

For it to work however, there should be staff, appointed to make RG checks on people who make huge/many deposits and spend a lot of time gambling.

Knowing the company from the inside, they were always pretty understaffed in the CS department.

Unfortunately, a lot of companies who see people like this, do the same thing, because they want to maximize profits from the bad gamblers. It's such a double standard and it's enraging, but that's just the way it is.

Gambling suicides happen often, especially in places like Las Vegas and Macau. Revealed cases, related to Online Gambling are a rarity. However, as there's been some light shed on this case, there might be an incoming lawsuit from the family of the person, that commited suicide, against Playtech.

As for them, the majority of their bookie business still comes from Caliente MX, so this shouldn't be a fatal blow on their business.

Logged
arbusers
Administrator
Totally Pro
*****

Karma: 411
Posts: 4163



View Profile WWW

arbusers

Re: Winner and Titanbet surrendered the licences
« Reply #4 on: May 31, 2020, 12:14:30 PM »

The story behind the title is devastating and at the same time educating.

Both Winner and Titanbet belong to gambling firm Playtech.

A 25-year-old electrical engineer from Sheffield, received a VIP status and a number of bonuses and incentives, including an iPhone. The man lost 22.000 GBP within 3 days from opening his account. He was allowed to have a turnover of almost 4.5mn GBP within a time period of 4 months with a clear profit of some 7.000 GBP. Then in April 2017, he lost some 119.000 GBP as a result of a losing streak.
He received 4500 GBP in cash bonuses and 120 free bets. He received a bonus of 400 GBP some hours before committing suicide.

The UKGC concluded the bookmakers ''failed to carry out any responsible gambling interaction'' with the young man at given points, while the bookmakers didn't know the occupation of the player even when losing big amounts of money.

Logged
stevie
Gaining experience
*

Karma: -2
Posts: 48


View Profile

stevie

Re: Winner and Titanbet surrendered the licences
« Reply #5 on: June 01, 2020, 07:39:12 AM »

Also goes to show how differently people treat the same activity.

People in this forum and elsewhere would have paid him nicely to get his account and arbuse it.
Logged
arbusers
Administrator
Totally Pro
*****

Karma: 411
Posts: 4163



View Profile WWW

arbusers

Re: Winner and Titanbet surrendered the licences
« Reply #6 on: June 01, 2020, 07:54:30 AM »

What strikes me, is that the poor man was able to maintain some profit after volumes of 4.5 mn.
Logged
VidaBlue
Has experience
**

Karma: 42
Posts: 188


View Profile

VidaBlue

Re: Winner and Titanbet surrendered the licences
« Reply #7 on: June 05, 2020, 12:05:20 AM »

What strikes me, is that the poor man was able to maintain some profit after volumes of 4.5 mn.
Indeed. According to the media, the 25-year old played this enormous volume on the roulette and blackjack and was still profitable. Either the media got the numbers wrong or the gambler placed his bets in few large chunks and had variance on his side. Then again, few bets wouldn't satisfy a gambling addict's need for constant stimulation during a 4-month period. There is a third option: the very unlikely case that he had found a winning system within these games. In such a case, it is then unlikely that he would miss out on the bankroll management. Does it seem that something in this story needs to be clarified in order to make completely sense?

Regardless, the morale of the story may be that gambling addiction and it's potential dire consequences is something that any book, gambler and smart bettor must be regularly aware of.
Logged
arbusers
Administrator
Totally Pro
*****

Karma: 411
Posts: 4163



View Profile WWW

arbusers

Re: Winner and Titanbet surrendered the licences
« Reply #8 on: June 05, 2020, 07:05:40 AM »

There is a third option: the very unlikely case that he had found a winning system within these games. In such a case, it is then unlikely that he would miss out on the bankroll management. Does it seem that something in this story needs to be clarified in order to make completely sense?

We will never know unless we have the history of his bets. But the fact he was able to maintain profits after these volumes, means there was a system in place unless he was that lucky. I am also wondering if the poor man was playing only in this bookmaker, or if he had action elsewhere too? This would complicate things.
Logged
Pages: [1]
Print