BGC has reported that a study conducted by PWC found that over a 12-month period between 2018 and 2019, around 200,000 customers engaged in gambling activities with an unlicensed operator, resulting in stakes worth approximately £1.4bn. Unregulated gambling platforms accounted for 2.5% of all visits to betting websites, totaling 27 million visits. Disturbingly, black market sites comprised 9% of all gambling search results. The BGC warns that implementing stricter controls on licensed operators may push customers towards unscrupulous black market alternatives that lack the safety measures of the regulated sector. Michael Dugher, the CEO of BGC, emphasizes the importance of allowing individuals in the UK to enjoy gambling in a safe environment, rather than resorting to the unregulated black market, which puts the thriving regulated industry at risk. The UK Government’s Gambling Review, long-awaited and currently underway, will address these concerns.
The Gambling Review, launched by UK Culture Secretary Oliver Dowden, aims to examine the country’s gambling laws to ensure their relevance in the digital age. The comprehensive review will scrutinize online restrictions, marketing practices, the authority of the Gambling Commission, and the changes that have occurred in the gambling industry since the Gambling Act 2005 was enacted 15 years ago. The assessment will also evaluate the existing protections for online gamblers, including stake and spend limits, advertising and promotional offers, and the need for additional safeguards for young adults. Dowden emphasizes the importance of updating gambling regulations to address problem gambling effectively and protect vulnerable individuals and children.
The BGC welcomes the evidence-led assessment conducted in the Gambling Review, as it aligns with their own efforts to create a safer gambling environment. Dugher appreciates the opportunity for further changes to promote safer gambling, while also highlighting that problem gambling rates have not increased in the past two decades. He emphasizes the need for the Government to prioritize support for individuals struggling with gambling addiction rather than discouraging responsible gamblers during the review process. The BGC has already implemented measures to mitigate the impact of gambling, such as reducing the exposure of underage individuals to gambling advertisements and restricting individuals under the age of 25 from joining VIP schemes.
