Ladbrokes Agrees to Pay £975,000 to Gambling Addict

Business News

According to the Guardian newspaper Ladbrokes agreed to pay £1m to the victims of a problem gambler who had stolen the money he was using to bet, in return for a pledge not to inform the industry regulator.

Ladbrokes showered the gambling addict with thousands of pounds-worth of gifts over two years – including free tickets to football matches and business class flights.

The gambler, a British citizen who ran a property business in Dubai, later admitted to having stolen from his clients in order to fund his high-roller habit, which cost him up to £60,000 in a day.

But according to a settlement agreement seen by the Guardian, Ladbrokes demanded that they “agree not to bring any complaint or make any report to any regulator in relation to the claim” in order to receive the money.