💸💸💸United Kingdom🇬🇧: betting and slot operators propose five measures to combat the black market

💸💸💸United Kingdom🇬🇧: betting and slot operators propose five measures to combat the black market

The Betting and Gaming Council (BGC) is a trade association that represents approximately 90% of the regulated industry and has a direct interest in eliminating illegal competitors.

🔣 To combat illegal gambling operations, the BGC is calling for cooperation among lawmakers, regulators, technology companies, and financial institutions.

🔣 The proposed measures include:

1️⃣ Combating illegal advertising. According to the BGC, companies owning social media platforms should be responsible for removing illegal gambling-related content and advertisements.

2️⃣ Blocking websites. Regulators should be granted expanded powers.

3️⃣ Blocking payments. The specific mechanisms were not detailed, but payment companies operating in this context could potentially be viewed as “facilitators.”

4️⃣ Imposing significant fines on facilitators, as illegal operators increasingly rely on influencers, search engines, and AI-generated content to influence consumers outside the regulated framework.

5️⃣ Criminal penalties for operators.

🔣 Context: the volume of bets placed with illegal operators in the United Kingdom has risen to £16.6 billion, more than three times the level recorded in 2019. By 2028, the figure could reach £33 billion.

#news #Europe #gambling

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