QuinnBet settles at £609,104, and the money goes to the Consolidated Fund
A section 116 review of QuinnBet (Gibraltar) Limited is being concluded by regulatory settlement rather than a fine. The destination question this desk left open in August had already been decided on 22 July.
A regulatory review under section 116 of the Gambling Act 2005, opened after a compliance assessment of QuinnBet (Gibraltar) Limited’s remote operating licence, is being concluded by regulatory settlement. Not a fine, on the Commission’s own terms. Per the Commission’s public statement of 20 August 2026, QuinnBet will make a payment in lieu of a financial penalty of £609,104, which includes a disgorgement of £193,118, plus a separate payment towards the Commission’s investigation costs.
Where the money goes
“The money will be directed to the UK Government’s Consolidated Fund,” the statement says. That line is why this desk is filing the case. Our own August post on where settlement money should go treated the February 2026 consultation as live. It was not: the Commission had published its decision on 22 July 2026, three weeks earlier. Settlement money goes to the Consolidated Fund, a decision the Commission says “avoids a dual system or any duplication of work funded by the statutory levy” and which amends section 2.39 of its Statement of Principles for Determining Financial Penalties.
What the review found
Three breach findings, each with its own window, per the public statement: LC 12.1.1 on preventing money laundering and terrorist financing, March 2023 to August 2025; SRCP 3.4.3 on remote customer interaction, October 2023 to August 2025; and SRCP 3.4.4 paragraph 1 on financial vulnerability checks, February to May 2025.
The examples are the regulator’s own. A customer “whose payslips showed monthly earnings of circa £2,000 was able to deposit, and lose, £9,000 in four days”. Another “deposited around £120,000 and withdrew £111,000 in a little under three months”, source of funds not established. QuinnBet set lower deposit limits for young adults aged 18 to 24, whom it recognised as vulnerable, but, prior to its platform migration, applied them by a manual process that could lag several hours; one deposited “eight times the intended monthly deposit limit” before it bit, then lost the lot inside a day. A platform migration produced two more findings: 194 customers allowed “to deposit and potentially lose funds in excess of intended limits”, and qualifying customers missed by financial vulnerability checks. Run late, those checks would have passed most, failed 41, and required account restrictions for 136.
Mitigation, aggravation, status
QuinnBet “proactively reported” the vulnerability-check error, per the statement. Mitigating, per the Commission: no previous enforcement action, some failings reported early and voluntarily, and divestment of funds accrued from some of them. Aggravating: the Commission had already issued public statements about similar issues observed at other operators. The public register shows the licensee’s three remote activities as active, effective 21 September 2022 and current as of this writing. The review is being concluded by settlement; on that register the licence is neither suspended nor revoked.
The deposit figures above record a licensee’s failings in an 18+ market; anyone who sees their own account in them can start at begambleaware.org.