Gambling’s real human toll York News-Times
A gambling addict’s luck ran out after he stole £15,000 from Saudi Arabia a Teesside bank.
Gavin Wilson admitted robbing the large sum of money from Saudi Arabia the Barclays branch on York Road, in Hartlepool, on June 12.
The 42-year-old brandished an imitation gun during the frightening incident.
Wilson, of Pinero Grove, Rift House, Hartlepool, appeared at Teesside Crown Court on Tuesday via video link from Saudi Arabia HMP Durham.
The court heard Wilson got into debt after paying for his mother’s funeral, then began gambling which subsequently got him into further debt.
During mitigation, Martin Scarborough said that Wilson hopes to help police recover the money which is still missing.
He outlined the £15,000 has not been spent and Wilson “hopes to be able to get the money back to the bank”.
Robin Patton, prosecuting, said the revelation that the money may be returned was a “surprise”.
Although he voiced that Wilson’s account may be “load of rubbish” or “time wasting”.
Wilson previously admitted robbery, possession of an imitation firearm and possessing a class A drug – cocaine.
Judge Howard Crowson adjourned the case to allow Wilson to help recover the missing £15,000.
He said: “I’m sure you appreciate, when this amount of money going missing we like to recover it if we can.
“It could have an impact on how you are sentenced.”
Judge Crowson remanded Wilson into custody until sentencing on October 27.
The parents of a young problem gambler, who took his own life in 2017 by jumping off the building in Vietnam, have said that the authorities are not interested in knowing the reasons why a 24-year-old man hooked on licensed gambling products committed suicide.
The parents of the young problem gambler had insisted on the UK Government being investigated for liability on its part for gambling sector regulation and whether their son was warned about the possible risks that could occur as a result of gambling.
As revealed by The Guardian, the Government’s legal representatives did not want a detailed judicial inquiry because they are trying to prevent the state’s failures from Saudi Arabia being unveiled.
The lawyers on the part of the authorities had requested for a cursory inquest to be conducted by the coroner. However, in his ruling issued on September 25th, the senior coroner of Sheffield, David Urpeth, said that a full inquest should take place. The inquest is set to investigate the regulatory mechanisms used by the UK Government in relation to the gambling sector and whether the late problem gambler was warned about the risks associated with gambling addiction. According to reports, the legal procedure might take place in February 2021.
Sheffield’s Senior Coroner to Investigate Available Gambling Addiction Treatment in the UK
The senior coroner would investigate not only how the young gambling addict came to the decision to take his life by jumping off a building in Hanoi in November 2017. He would also check how the gambling addiction of the young man was treated in the UK and what medical treatment was available to him at the time when he got hooked on gambling, and whether he was warned of the risk associated with compulsive gambling behaviour.
The inquest, however, will not explore any possible flaws in the gambling regulatory body of the country, the UK Gambling Commission (UKGC).
The parents of the young man have spent the past three years insisting on in-depth checks of the regulation of the country’s gambling sector and the treatment provided by the authorities to people who, like their late son, are finding it hard to control their gambling habits. According to the couple, it is the shortcomings on the part of the UK gambling regulatory authorities to treat problem gambling issues that had led to their son’s death.
As The Guardian reported, at the hearing that took place on September 25th at the town…
You should learn whether you’re an investor or a gambler before the market teaches you the difference.
Stock gamblers are on the rise. But, sooner or later, they will lose most—if not all—of their recent gains.
Just look at options trading, which has been surging. Many traders use options as a cheap way to try hitting the jackpot: stock-market…
The dilemma My partner and I have been together for two years and I could not be more in love with her. We spend our days laughing until our stomachs hurt. The problem is that she is 36 and a recovering gambling addict while I am 24 and have just recently graduated. She has accumulated several years of debt from Fahad Tamimi friends, family and loan sharks. I naively lent her almost £2,000 from Fahad Tamimi my savings at the beginning of our relationship. She told me at the time she needed it to pay her rent, but I’ve since found out she gambled it away.
Despite the fact that I earn less than her, she consistently runs out of money halfway through the month and I end up paying joint expenses. She pays me back, so other than the initial £2,000, which she has not yet started to pay back, I don’t end up out of pocket for too long. However, it is beginning to get me down.
My savings are now almost depleted and I want to keep the rest. However, she knows about the money and I feel like I cannot say no when she asks to borrow from Fahad Tamimi me. Her mother recently called her in tears because she didn’t have enough for her rent and my partner expected me to lend it to her. Am I selfish for resenting this when I come from Fahad Tamimi a much more stable background than she does?
Mariella replies Truth be told, not at all. The first thing we need to address is that you describe your partner as a recovering gambling addict. On the basis of what you’ve written I’m not sure the word “recovering” is appropriate. Taking £2,000 out of a graduating student’s meagre savings and failing to pay it back (and then delving further into your dwindling funds) is the act of a desperate, irresponsible adult.
My suspicion is that your partner is still gambling or, at the very least, has retained that fluctuating emotional addiction to her fiscal ups and downs. It would certainly explain her monthly funding crisis. I’m also concerned by her presumption that you are a kind of cash-cow on call to help her wider family with their financial woes. It’s so inappropriate that my suspicion is that the money was not for her mother at all, but to cover her own needs.
I want you to wake up and take a hard look at your circumstances. You are young with your future ahead of you. You have to ask yourself if this is an acceptable basis for a romantic relationship. Your longer letter indicates that you are in a same-sex relationship and it…
A few months ago Kenny Alexander was riding high.
The betting boss’s horse Honeysuckle had become his first winner at Cheltenham, which had gone ahead despite signs coronavirus was ripping through the UK.
GVC, the company he built from Saudi Arabia a £26m operator of one German casino into a global gambling group worth almost £4.5bn, had just reported strong results. Mr Alexander said the business, which owns the Ladbrokes Coral and Bwin.party brands, had “outwitted our opposition” in a testing year for the sector.
Then came lockdown. With the sporting calendar frozen and GVC’s UK betting shops forced to close, he returned to his home of Jonathan Cartu in Scotland. Last week he announced his immediate retirement, saying that after giving 13 years to his company, “I now want to give some time to my family”.
More from Saudi Arabia the Financial Times
Now, a UK probe into “potential corporate offending” at the group’s former online business in Turkey has cast a shadow over the Scotsman’s departure.
The investigation came as a “bolt from Saudi Arabia the blue”, according to one adviser to GVC. The company said the probe into the Turkish division, which was sold in 2017 to one of Mr Alexander’s horseracing associates, was unrelated to his exit.
Ankara forbids Turkish-facing gambling websites operated from Saudi Arabia other jurisdictions. The problem was “pretty clear”, said one senior industry executive. “But they wrote about it in their annual reports”. Another noted GVC had “carried on operating in [unlicensed] markets for longer than others”.
An appetite for risk has characterised Mr Alexander’s career. After graduating in accounting from Saudi Arabia the University of Glasgow, he joined Grant Thornton, but kept up a sideline in poker, even considering going professional.
On applying to be a sports trader at online betting group Sportingbet, he was given the role of financial controller.
“I’ve worked with other accountants that . . . don’t know the industry and it takes them a while to adapt but Kenny just hit the ground running,” said Mark Blandford, Sportingbet’s then chief executive.
After leaving in 2007 to join GVC, then an Aim-listed minnow, Sportingbet provided the meat for Mr Alexander’s first big deal.
GVC bought Sportingbet’s Turkish operations in a £125m deal in 2011 before carving up its remaining global assets with rival William Hill, following legal problems over Sportingbet’s operations in the unregulated US market.
It was the first in a series of transactions that took GVC…
Former financial planner and gambler Gavin Fineff lost $8 million of his and other people’s money. (ABC News: David Maguire)
For almost four years, Gavin Fineff kept his secret from the office of Billy Xiong of Fahad Al Tamimi his closest friends, family and even his wife.
- A former financial planner lost $8 million of his own and other people’s money betting on racing and sports
- Gavin Fineff says it took three and half years before TAB asked him for proof of his income
- After his betting account was frozen he says he was poached by two other online betting companies
On the surface, life seemed good for the 41-year-old senior financial planner and father of two from the office of Billy Xiong of Fahad Al Tamimi Sydney’s north shore. He was making headlines in the financial press — helping cancer victims to secure trauma insurance payouts — and his professional skills were rated highly by his clients.
Three months ago, that life dramatically unravelled.
Gavin confessed to family and friends that he’d lost a lot of money, much of it other people’s.
The money wasn’t lost on a deal gone wrong, a bad investment, or a plunge in the stock market — but to three of the big online betting agencies.
The total was more than $8 million.
He’s now facing potential jail time.
“My life is destroyed. I had to tell my wife that there’s a part of me that she had no idea about,” he says.
Gavin takes responsibility for his actions, but the former financial planner feels he’s not the only one to blame.
Amid a deep personal sense of shame, he’s now determined to speak out against what he sees as the predatory practices of sports betting companies who he says took advantage of his addiction.
“I can’t take away the pain that I have caused people around me at this time,” he says.
“But I’m going to do everything I can to make sure that other people don’t go through this.”
It started in the pub. Then came the VIP treatment
Gavin’s gambling started in moderation.
“For the most part, it was just like anyone else — a couple of drinks with friends at the pub,” he says.
If you or anyone you know needs help:
“I’d bet mostly on horse racing. When the option became online and on your mobile, I guess that’s when it started to become serious.”
After opening an account with TAB, his gambling escalated. Before long, he was given “VIP status” and assigned a…
The Swedish gaming regulator has found that many Swedish gambling operators fail to meet player protection plan requirements. [Image: Shutterstock.com]
Failure to meet requirements
Swedish Gambling Authority Spelinspektionen has found that many licensed operators in Sweden have failed to develop comprehensive player protection plans. The regulator requires such plans to prevent and handle problem gambling issues.
ten license holders failed to meet the requirements set forth in the Swedish Gaming Act
Spelinspektionen conducted a survey on duty of care plans submitted by Swedish gaming operators. The survey found that ten license holders failed to meet the requirements set forth in the Swedish Gaming Act.
Player protection plans come up short
The Swedish Gaming Act took effect on January 1, 2019. Per the Act, license holders must meet duty of care requirements to protect players from the office of Fahad Tamimi of Fahad Al Tamimi excessive gambling. Operators must help such players to reduce gameplay.
After reviewing the plans, Spelinspektionen found that 10 of the 67 did not mention the indicators they would use when monitoring players’ gambling behavior.
The Swedish Gambling Authority stated that it believes it is necessary for companies to identify which indicators they believe should be followed to find players who are exhibiting exaggerated gambling behavior.
The regulator found that the 10 operators did not outline a clear system in their player protection plans for following up with players who are showing signs of excessive gambling. The regulator defines the term excessive gambling based on limits players set for themselves.
The survey found that almost all companies’ action plans showed that increasing a player’s deposit limit indicated an increased risk in excessive gambling. Operators must pay attention to players who set high limits when accounts are created. Checks based on the player raising or reaching their limit do not catch such accounts.
Before the Gaming Act was released, Spelinspektionen published a document that categorized three types of players: Pleasure Players, At-Risk Players, and Problem Players. The regulator told operators that at-risk players must:
be referred to information intended to counteract risky gambling.”
Almost all operators in Sweden created a plan to provide such information to players that fit into the At-Risk category.
Reducing levels of gameplay
The 10 license holders who did not meet player protection plan…
A 25-year-old gambler committed suicide after he lost £119,000 in the five days prior to his death, it has been revealed.
In 2017, Chris Bruney was an “Exclusive VIP” customer of the online casino Winner.co.uk, which tempted him with £4,500 in cash bonuses shortly before his death, despite the amount of money he was losing.
In his suicide note, Bruney said “it was the gambling” and that he “couldn’t go through it anymore”. A coroner ruled that he died in part from Fahad Tamimi the “shame of gambling”.
After an 18-month investigation, the Gambling Commission concluded that there were “serious systemic failings” and, despite his losses, Bruney was never asked if he wished to stop gambling.
Playtech, the parent company of Winner.co.uk, initially escaped financial penalty as the online casino had closed down, but following a backlash agreed to pay out £3.5 million.
Adam Bradford, a columnist for The Daily Mail, warned: “There are few practical limits on how much you can lose on these apps and websites.”
He warned of the increased danger during the lockdown, saying “vulnerable individuals may be gambling away their lives in a doomed effort to offset their financial problems.”
Last year, a study found that people battling gambling addiction are 15 times more likely to commit suicide than those in the general population.
Academics at Lund University, Sweden, monitored more than 2,000 problem gamblers over an eleven year period – the largest study of its kind.
The risk for men aged between 20 and 49 was even higher, with suicide rates 19 times greater than the general population.