William Hill Could Face UKGC Fine
British bookmaker William Hill could be penalized by the Gambling Commission after it found that it had been given incorrect data. The regulator is now in the process of reanalyzing its Covid-19 gambling data and hopes to publish the correct figures in February. Data was originally collected to assess whether pandemic lockdowns had an impact on online gambling rates.
The regulator is planning to publish amended figures for the 16-month period in early February.
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Figures to be Updated
It has emerged that data submitted by William Hill to the Gambling Commission last year was incorrect. The figures were collected by the regulator to gain insight into the impact of the Covid-19 pandemic on British gambling habits. The regulator published a statement warning people of the discrepancy on December 23rd.
The regulator has cautioned people to be aware that when analyzing its Covid-19 data, some of the information is incorrect. The first red flag was raised during the Commission’s data quality assurance process. The regulator queried William Hill, and in response, the bookmaker informed the Commission that the data it supplied between March 2020 and September 2021 contained incorrect data points.
The Gambling Commission has stated that it is working to remedy the issue. It is in the process of quality assuring corrected data, rerunning the analysis and hopes to publish the updated figures in early February 2022. It has also added that it is reviewing whether William Hill’s failure to submit accurate data should be met with regulatory consequences.
As of yet, it is unclear whether the regulator will take action against William Hill for submitting the false data. However, it seems that a fine could be likely if the bookmaker is found to have breached the conditions of its operating license. It is less likely that the regulator will suspend or revoke William Hill’s license.
The Gambling Commission has been publishing aggregated operator data as part of its monitoring work since early on in the pandemic. The figures have offered an insight into the risks and impact of the pandemic and subsequent lockdowns on gambling behaviors. Some of the biggest operators, accounting for around 80% of the UK’s online gambling market supplied the data.
Lockdown Concerns
Concerns were raised that lockdowns, while necessary to curb the spread of the virus, were causing some people to gamble too much online. A combination of factors, including stress, financial troubles and boredom, were linked to a rise in gambling harms. In response, the UKGC has published regular updates since March 2020.
Its latest market overview was published in September 2021, and detailed operator data for July of that year. Notable events during that period were the end of the 2020 Euros, the beginning of the 2020 Olympics and the easing of lockdown measures. In online gambling, Gross Gambling Yield was down by 8%, while the number of bets grew by 5%.
The end of the 2020 Euros tournament contributed to online real event betting GGY falling by 19% on the previous month. The number of bets and active players also fell. In online slots, players, spins and GGY all increased. The number of online slots sessions lasting longer than an hour increased by 4% on the previous month, while the number of direct interactions carried out by operators fell by 4%.
These safer gambling indicators are useful in enabling the regulator to understand how the pandemic is continuing to affect betting and gaming behaviors, and how effectively operators are able to safeguard their customers from harm. The figures are also a vital resource for academics and health workers.
While the above data has been affected by William Hill’s incorrect data, it does offer some insight into the impact of the pandemic. The Gambling Commission has not stated the percentage of the data that William Hill’s figures account for, so it remains to be seen how much the figures will change. The regulator is due to republish amended figures for 16-month period next month.
William Hill Assets Sold
The news of William Hill’s incorrect data submissions comes as the business is in the midst of being sold. US casino giant Caesars Entertainment is in the process of selling off William Hill’s international assets, which include the firm’s UK operations, to online gambling operator 888 Holdings.
Gibraltar based betting and gaming operator 888 Holdings has paid £2.2 billion for the carved-up bookmaker, in the hopes that it will be able to increase its scale, diversify its products and grow its revenue. 888 expects to complete the acquisition during the second quarter of 2022, after issuing a Capital Raise and holding a shareholder vote.
Caesars Entertainment, which purchased William Hill last year for £2.9 billion, was keen to gain from the firm’s 88 years of sports betting experience. Since PASPA was declared unconstitutional in the US in 2018, states have been able to legislate for themselves on sports betting.
The intervening years have seen the steady growth of American sports betting, although most US gambling firms have lacked the expertise to corner the market. A number, including Caesars Entertainment, have turned to European sportsbooks for guidance, buying them up for their years of knowledge.
In the case of William Hill, that has left the company’s non-US assets in the lurch. After months of speculation, 888 Holdings agreed to purchase the assets last September. Its £2.2 billion bid beat the competition, which reportedly consisted of Apollo Global Management and German operator Tipico.
However, William Hill’s UK branches are not out of the woods yet. It is rumored that these too could be sold if 888 is focused solely on the firm’s online business. William Hill currently owns around 1,400 high-street betting shops in the UK, which have been badly affected by the pandemic and regulatory changes.
