Entain has expressed strong support for the recommendations of a new report that outlines measures to combat the growing issue of illegal gambling operators in the UK.
The report, produced by consultancy Regulus Partners, emphasizes the urgent need for effective policies to protect players and increase tax revenue, estimating that inaction could lead to a loss of up to £335 million in taxes in the upcoming Parliament.
At the SBC Summit in Lisbon, Entain’s chair Barry Gibson highlighted that “ignoring the growth of the black market would have serious consequences for customers and cost hundreds of millions in tax.” The report details several strategies, including creating blacklists of illegal operators, restricting advertising, and blocking payments to these operators through payment service providers. These measures aim not only to mitigate the financial impact of illegal gambling but also to enhance protections for approximately 1.5 million players currently operating in the black market.
The report points out that despite having a well-structured regulatory framework, participation in the black market continues to rise. Countries like France and Germany exhibit alarming levels of gambling revenue being diverted to unregulated operators, indicating a pressing need for a more robust response from authorities.
Gibson concluded by stating that tackling black market operators should be a priority for policymakers worldwide, warning that failing to take action could result in an increase in illegal gambling and undermine trust in regulated businesses.
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