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Online punters cheated out of winnings

Online punters cheated out of winnings

Business
Online punters are being cheated out of winnings they expected to receive, a City watchdog has found.The Competition and Markets Authority (CMA) said it is taking "enforcement action" against five online bookies - which it is not willing to identify at this stage - claiming punters are not getting a fair deal and companies are holding on to people's money.It comes amid an ongoing investigation into the £4.5bn sector following allegations that "confusing and unclear" terms and conditions - or mistakes - were being cited for cutting winnings.The CMA said it had heard from "around 800 unhappy customers" and has demanded companies answer questions about how they operate - particularly through their use of sign-up promotions - such as free bets.Sign-up promotions are designed to attract players...