The British betting company William Hill has been fined a record £19.2 million by the gambling regulator over a series of “widespread and alarming” failures.

Three gambling businesses owned by William Hill were found to have insufficient controls and checks in place to protect customers and weak anti-money laundering controls, the Gambling Commission said.

The fine is the largest in the history of the commission since it was established 15 years ago and will be spent on socially responsible good causes.

In one case an individual was allowed to set up an account and spend £23,000 in 20 minutes without any checks. Another lost £32,500 over two days with no checks.

Another was able to lose £70,134 in a month, while one person was allowed