How can the regulated gambling industry fight the black market?
The past year has seen a wealth of hair-raising statistics regarding the rise of offshore gaming in response to an ever-stricter regulatory environment. In February, the Betting and Gaming Council (which represents 90% of legal UK operators) commissioned research on the European and UK offshore landscape. In December, the American Gambling Association released its latest data detailing offshore gaming in the USA.
Both reports revealed that large amounts of revenue are being spent at offshore gambling sites rather than in the formal economy. PwC, who researched on behalf of the BGC, even went as far as to conclude, “whilst it is not possible to isolate the impact of individual regulatory characteristics, the assessment suggests that jurisdictions with a higher unlicensed market share tend to exhibit one or more restrictive regulatory or licensing characteristics.”
I wish someday there will be land-based Casinos in Georgia. Maybe someday it will come true.
Well, the two are the same, but so different from each other, so maybe it will depend on how they want to remove offshore gaming. Frankly, it would be hard,
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A great way to do is by establishing partnerships, I mean, the industry can establish partnerships with other stakeholders, such as financial institutions and payment processors, to identify and block transactions related to illegal gambling.
I am an avid bettor and gambling writer where I write about sports news, sports betting, sportsbook pay per head reviews, betting picks and more
For a considerable period, opponents of gambling have argued that stricter regulation leads to greater safety and security for players. However, research from gambling market groups in numerous markets challenges this notion, suggesting that it may have the opposite impact by encouraging more offshore gambling.
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