Andy May, 44-year-old, was pushed by his severe gambling addiction and lost more than $1.8m by betting through several gambling operators. He stole the majority of the wagered amount. And this reopened the debate over gambling industry regulation.
May got the money for his gambling habit from Sealskinz, the outdoor clothing company where he was a senior manager. He bet on the platforms of several different gambling operators, including Betway, Betfair, and BoyleSports.
The bookmakers were unaware of May’s source of funds, which led to him using his company’s funds for several years. May, on the other hand, was a loyal customer. He also got tickets to various sporting events and free bets.
May was finally caught red-handed when his gambling addiction led to massive losses. He eventually pleaded guilty to fraud and received a four-year prison sentence from Norwich Crown Court.
Betway recovered the money May stole from Sealskinz and reported the potential fraud. According to what the operator shared, it couldn’t confirm that the documents were doctored even with the assistance of a third party. But there was a strong suspicion that this was the case. Betway will think about the concept of a unified customer view.
May’s case demonstrates how one determined individual can cause massive damage if left unchecked. And how even global corporations’ precautions are not always sufficient.