BGC warns over black market growth

BGC warns over black market growth

Added:
BGC warns over black market growth

The Betting and Gaming Council (BGC) announced that the unlicensed operators have doubled the figures of customers, and it applied to the authorities of the United Kingdom to defense the vulnerable.

BGC’s announcement is based on the industry investigations and a report which PricewaterhouseCoopers (PWC) had delivered by the order of the BGC.

The report of PWC has not been published and is expected to be published soon in regard to the Gambling White Paper.

Based on the PWC’s investigation, the figures of the customers on illegal operators reached 460,000 from previous 220,000. As for the bet sum, it reaches billions.

PWC has compared the markets and found out that black market exists within Europe. In France, unlicensed gaming amounts to 57 percent of the bet sum. Meanwhile, in Norway, it equals to 66 percent of the wagered cash. As the advertisements in Italy are prohibited, the money generated from the black market accounts for 23 percent.

As the report claims, the country owns a more ‘open’ live gaming market and the illegal market share is smaller compared with the benchmarks of Europe.

BGC called on to focalize on youth defense in the Gambling White Paper.

In the opinion of the Council’s president Michael Dugher, the black market might take advantage of strict restrictions. Though he stands up for the Gambling review, he finds that the illegal market may increase significantly.

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