UK Gambling Black Market Seized GBP 100 Million in Boxing Day Bets, Warns BGC
Significant Illegal Gambling Activity on Boxing Day
The UK’s gambling black market reportedly capitalized on Boxing Day betting, with an estimated GBP 100 million wagered outside of licensed channels, according to a recent alert from the Betting and Gaming Council (BGC).
Scale of Illegal Betting and Its Implications
Data analysis by H2 Gambling Capital reveals that illegal gambling in the UK involves billions of pounds annually. The BGC’s estimate that illegal bets on Boxing Day alone reached GBP 100 million is based on the day accounting for around 1% of the total yearly betting turnover.
This development highlights growing worries that recent fiscal policies might exacerbate the illegal betting market. The BGC previously criticized the autumn budget’s proposed gambling tax hikes, warning that such measures could lead to job losses in the regulated sector and divert bettors toward unregulated operators.
The Office for Budget Responsibility (OBR) has projected that these tax adjustments could decrease tax revenue by about one-third by 2029–30. This decline is linked to a shift in consumer behavior from regulated platforms to illicit ones, potentially causing a GBP 500 million shortfall in tax receipts next year.
Concerns Raised by Industry Leaders
Grainne Hurst, the chief executive of the BGC, emphasized that Boxing Day is among the most active days for sports betting. She cautioned that illegal operators stand to benefit significantly, channeling money away from lawful businesses and evading consumer protection obligations and tax contributions.
Hurst further highlighted that increased taxes could diminish the attractiveness of licensed betting, thereby enlarging the black market. This shift threatens consumers, jobs, and public finances alike.
Licensed gambling providers adhere to strict standards for player protection, affordability assessments, and anti-money laundering measures. They also contribute substantially to the economy and support sports and racing sectors. Conversely, the illegal market functions outside legal boundaries, lacking accountability and failing to protect consumers or contribute taxes.
The BGC urges policymakers to collaborate with the regulated industry to ensure that consumer safeguards do not inadvertently drive bettors toward unlawful gambling avenues.
