LiveScore Group’s CEO has suggested offshore gambling businesses are the “pioneers right now” and that they will influence the future direction of innovation in the legal industry.
Speaking on the European Leaders Panel at SBC Lisbon today, 17 September, Sadi admitted that “good black market operators”, as he described them, are driving innovation through the types of products and games they offer.
He said: “I think black market operators are going to shape the future of our industry.
“We’ve all been in the industry long enough to remember we were dotcom pioneers. We put so much pressure on the incumbents – the national lotteries, the land-based casinos – and that created a wave of regulation and modernisation of our industry.
“What I see is happening is the ‘good’ black market operators – and I’m not saying those that abuse their positions but those that are innovative and are releasing new products to the market – they will put so much pressure on our industry and the regulators that modernisation of the regulatory frameworks will be critical to preserve them.”
The boss of LiveScore Bet and Virgin Bet continued: “I’m hoping at some point our industry will realise there is good being done on the black market operator side in terms of delivering features and services to consumers.
“The only way to match this is going to be working with regulators and creating an environment where we can operate in a similar fashion.
“They [black market sites] are the pioneers right now. We are on the defensive and they are going to cause us to react,” he remarked.
While he didn’t name names, Sadi was likely referring to crypto gambling operators pushing the envelope with unique casino games and the overall UX, a subject EGR explored earlier this year.
The proliferation of the black market, including crypto gambling, is a growing concern for regulators and licensed operators across Europe and further afield.
For instance, the gambling regulator in the Netherlands, the KSA, has estimated that around half the total gambling spend in the country is done via illegal sites.
Speaking today on a separate panel focused on the Dutch market, Hard Rock Casino NL CEO Cristiano Blanco argued the country needed a regulatory framework to make the “door to the black market less shiny”.
On its appeal, he added: “The black market is a world of excitement [for certain consumers]. A 20-year-old is just one click away – he’ll go there because they are used to excitement every day of their lives.”
Boutique analyst firm Eilers & Krejcik Gaming estimated last year that the online black market in the UK generated £1.5bn in net gaming revenue throughout 2024.
Earlier today, LiveScore Group announced a “transformational” partnership with X and the Elon Musk-owned social media platform’s AI arm, xAI.
The post LiveScore Group CEO: Black market operators will “shape the future of our industry” first appeared on EGR Intel.
Sam Sadi tells an audience at SBC Lisbon that regulatory frameworks need to be modernised to help legal operators compete with illegal operators’ products
The post LiveScore Group CEO: Black market operators will “shape the future of our industry” first appeared on EGR Intel.