Black-market sites become a growing concern with player participation doubling in the past three years. Government urged to pay attention to detail with Gambling Act improvements planned. 183 characters.
Across the world, more and more people are gaining interest in exploring what the online gambling industry has to offer.
In more recent years various aspects have resulted in regulated markets focusing more on tightening their industry hold and removing possible dangers.
Responsible gambling is a number one focus which includes providing players with a safely regulated gaming space.
While regulated markets are hard at work to increase safety measures statistics indicate black-market sites have doubled over the last few years.
Tighter Regulations the Cause?
The UK Betting and Gaming Council (BGC) requested a review of unlicensed online gambling within the country. The British government is currently in the process of reviewing its Gambling Act looking for ways to improve and update it to fit the digital advancements.
The BGC provided the report to the government urging for it to be considered during the Gambling Act Review, warning of the “dangers of complacency”.
If it is not brought into consideration, they will face the growing threat of unlicensed and illegal gambling operators.
The review is made up of a 66-page document based on all the data collected during November and December 2020. Throughout the review, all the worrying trends are highlighted which includes the doubling of money staked with unlicensed operators. Data revealed a massive jump from £1.4bn to £2.8bn.
Furthermore, the data shows the number of customers using unlicensed betting sites has jumped from 210,000 to 460,000 within the past two years. There is also major fear surrounding the growing size of the black market in other countries.
BGC’s chief executive, Michael Dugher, spoke out saying the new report by PwC is not just impressive but a comprehensive piece demonstrating ‘how the unsafe, unregulated black market is a growing threat to British punters.
The main reasons for concern around black market sites are the lack of consumer protections such as ID and age verification checks, deposit limits, and other tools for safer gambling.
Dugher made it clear that this report is not an invitation for more changes to the regulated industry but rather meant to urge officials to get them right.
Black Market Bigger in Less Competitive Regulated Markets
Based on the data from the report it appears that the online black market is much bigger in countries where the regulated gaming and betting sector is not as competitive. The statistics tend to point towards countries like France, Spain, Italy, and Norway where tougher restrictions are imposed on operators. In these regions, it has been found that the black market is much bigger than it is in the UK. Dugher states that if not careful:
“The UK risks sleepwalking into changes where the main beneficiary is the unlicensed black market. We all have an interest in getting future changes right, so let’s take heed of this latest evidence and look at what is happening elsewhere around the world.”
By this analysis, it appears the UK has a more ‘open’ online gambling market with a smaller unlicensed market compared to the rest. This should not be a cause for comfort but rather urge officials to focus on getting regulations right.
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