UK Gambling Black Market Pocketed GBP 100M In Bets on Boxing Day, Says BGC
The UK's gambling black market is estimated to have taken £100 million in bets on Boxing Day, according to the Betting and Gaming Council.Summary
The UK’s Betting and Gaming Council (BGC) has warned that the country’s gambling black market likely profited from Boxing Day betting activity, potentially handling up to £100 million in stakes outside the regulated sector. Industry analysis suggests the black market already processes billions annually, with Boxing Day representing approximately 1% of total yearly betting. The BGC expressed concern that recent budget tax increases could exacerbate this issue, potentially leading to job cuts and driving bettors towards illegal operators. The Office for Budget Responsibility (OBR) anticipates a £500 million shortfall in tax receipts by 2029-30 as consumers shift to unregulated markets. BGC chief executive Grainne Hurst emphasized that the illegal market provides no consumer protections and contributes no taxes, and warned that increased taxes on regulated betting will primarily benefit these unlawful operators. Licensed operators, in contrast, adhere to strict regulations and contribute significantly to the UK economy and sports funding.
(Source：Gamblingnews)