Neds has found itself in hot water for aggressively advertising to New South Wales (NSW) punters to sign up and gamble on their site.
The Australian online sports betting website was fined by Liquor and Gaming NSW for AU$18k for five different promotional material that they ran between October and December 2017.
Liquor and Gaming NSW had an issue with the offer to match punter’s first deposit. The match deposit was up to AU$505. Neds was also promoting a bet boost which increased the stakes with no extra costs to the gambler. Neds accepted that they had broken the rules and will be paying the fine.
Not the First time
Neds launched their betting site into the Australian gambling market in September 2017. This was not their first run in with officials and breaking the rules. The Australian Standards Bureau banned two of their television adverts for encouraging unwarranted gambling.
The online betting site was planning to launch a platform that was dedicated to gambling using cryptocurrency. However, the Northern Territory Racing Commission (NTRC) said that they would only allow betting sites to use fiat currency. Neds had to find another alternative and have come up with Nedscoin. The NTRC has not agreed to the use of this proprietary crypto coin as yet.
Neds not the Only Sports Betting Site to be Fined
Neds is not the only betting website fined for breaking the rules. The Australian division of Ladbrokes was fined AU$85k. Coincidentally, it was not their first time either.
CrownBet and Bet365 also found themselves in a similar situation were the Liquor, and Gaming NSW fined them for inducing gambling.
Paul Newson of the Liquor and Gaming NSW cautioned other bookmakers that the ignorance of the law is not an excuse for breaking the rules. He also said that the penalties for violating the rules would keep getting steep.