Sports Betting News: BGC Chief Issues Black Market Betting Warning

A study commissioned by the Betting and Gaming Council (BGC) has revealed that approximately 1.5 million UK punters stake up to £4.3 billion annually on the illegal gambling black market.
 
The analysis conducted by consultants Frontier Economics painted an extremely worrying picture for operators of UK betting sites which are licensed and regulated.
 
The report estimates that £2.7bn of the overall figure was staked on unregulated online betting platforms, while the other £1.6bn was wagered in ‘underground’ venues.

The BGC has warned that black market gambling could deprive HM Treasury of up to £335 million in taxation over the course of a five-year parliament.
 
It says that in the rush to introduce stricter rules governing legalised betting, the United Kingdom Gambling Commission (UKGC) has created a landscape where illegal operators can flourish.
 
Unlike licensed betting sites in the UK, illegal platforms do not care about player protections or paying their fair share of tax from the profits they make.

BGC Chief Executive Officer Grainne Hurst says the UKGC risks ‘sleepwalking’ into trouble if it continues to pursue the implementation of draconian restrictions on regulated betting.
 
She believes that proposals by anti-gambling organisations to ban advertising and implement restrictive affordability checks are not the way forward.
 
Hurst argues that these elements will hinder operators of betting apps and other platforms by driving even more people towards black market gambling.

Associate Director at Frontier Economics, Andrew Leicester, has urged the UKGC not to ignore the warning signs raised by his company’s comprehensive report.
 
Leicester, who co-authored the study, highlighted that punters in the UK are finding it much easier to access illegal gambling outlets.
 
He acknowledged the importance of making gambling safer, but says any proposed measures must be balanced to ensure they deliver the desired results.