UK's gambling black market has doubled since 2018: PwC
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The number of British consumers gambling on unlicensed websites has doubled in the last three years. PwC says it's a serious issue for the industry as it threatens player protection, tax collection and the fight against money laundering and match fixing.
UK's gambling black market has doubled since 2018. Betting and Gaming Council urges government to take the report into account as part of its Gambling Act Review. Ian Proctor, chairman of Flutter Entertainment in the UK, agrees that the industry needs to improve consumer protection standards. He warns that enhanced safeguards must not lead to restrictive regulation.
UK's gambling black market has doubled since 2018. Unlicensed usage increased across every gambling platform. Bingo had the highest growth in usage, poker the second highest. Consumer spending on offshore gambling sites almost doubled. PwC compared British figures to other European countries. The figures suggest unlicensed online gambling in Britain is much lower than in most countries, but this is mostly due to lower tax rates and fewer “administrative burdens” or product restrictions.
