The Betting and Gaming Council (BGC) has issued a fresh warning about the threat posed by the black market, warning UK bettors could stake as much as £200m on the World Cup through illegal operators.
The figure compares with the £1bn that is projected to be bet with Britain’s licensed operators across the tournament
The trade body said financial risk assessments (FRAs) could drive more bettors to the unregulated market where checks are not required.
FRAs have not yet been officially implemented in the UK after the Gambling Commission (GC) delayed making a formal decision on their introduction last month, although anecdotal evidence suggests many operators are regularly asking for financial documents from bettors.
Recent BGC modelling suggested that if financial risk assessments were carried out as per the GC’s recent pilot, the amount staked with the black market could rise to £250m and see 50,000 players move from regulated to unregulated operators.
BGC CEO Grainne Hurst said: “During the World Cup, millions of customers will enjoy a flutter safely with regulated operators throughout the tournament.
“But while football fans back their teams, the criminal black market will also be looking to cash in, targeting customers with illegal gambling that offers none of the protections available in the regulated sector.
“At a time when illegal operators are already expected to take hundreds of millions of pounds in bets during the World Cup, policies that make it harder for regulated operators to compete strengthen the hand of the black market.
“The priority must be keeping customers in the regulated market, where robust protections are in place, rather than pushing them towards illegal operators.”
Recent analysis from the World Advertising Research Centre (WARC) found black market operators account for nearly half of spending on gambling advertising in the UK, while H2 Gambling Capital modelling anticipates the amount staked in the UK with unregulated companies will almost double to £33bn by 2028, rising from £17bn this year.
The predictions come on the back of significant increases in the UK on both remote gaming duty, which rose from 21% to 40% in April, and remote betting duty on sports wagers from 15% to 25%, effective from April 2027.
Regulated operators have said they will have to adjust pricing to mitigate the tax rises, further increasing the appeal of the black market to bettors.
The BGC has called on government and other industry stakeholders to prioritise the fight against the black market in order to safeguard players.
This week the trade body unveiled a five-point plan for fighting the black market, including measures for illegal advertising, payment providers and new sanctions.
The post BGC: Black market stakes on World Cup in the UK could hit £200m first appeared on EGR Intel.
Trade body points to analysis from H2GC that also suggests overall UK black market stakes will almost double to £33bn by 2028
The post BGC: Black market stakes on World Cup in the UK could hit £200m first appeared on EGR Intel.