BLACK MARKET EYES £200M WORLD CUP PAYDAY

The illegal gambling black market is set to cash in during this summer's FIFA World Cup, with around £200m expected to be staked with unregulated operators during the tournament.

The World Cup is the biggest sporting event on the planet, attracting billions of viewers and generating huge betting interest among football fans. More than £1bn is expected to be staked with regulated betting operators in Britain during the competition alone.

But while the tournament showcases the very best of international football, criminal gambling operators are also expected to target customers, exploiting the event's popularity with illegal betting products that offer none of the standards, safeguards or consumer protections required in the regulated sector.

With around one third of all betting account holders expected to place a bet on the World Cup, the BGC warned that intrusive financial risk checks requiring customers to provide personal financial documents, such as bank statements, risk making it harder for regulated operators to compete with illegal firms that openly flout the law.

Modelling suggests that, were the proposed financial risk assessments to be implemented as envisaged in the pilot, the amount staked with illegal operators during the World Cup could rise by up to £50m, taking black market betting to as much as £250m.

The analysis also indicates that more than 400,000 customers could be subjected to intrusive financial risk checks during the tournament, with over 50,000 potentially moving to the black market as a result.

The figures underline the growing threat posed by the criminal gambling black market, which seeks to profit from major sporting occasions while paying no UK tax and offering no protections to customers.

Grainne Hurst, Chief Executive of the Betting and Gaming Council, said:

"During the World Cup, millions of customers will enjoy a flutter safely with regulated operators throughout the tournament.

"But while football fans back their teams, the criminal black market will also be looking to cash in, targeting customers with illegal gambling that offers none of the protections available in the regulated sector.

"At a time when illegal operators are already expected to take hundreds of millions of pounds in bets during the World Cup, policies that make it harder for regulated operators to compete, strengthening the hand of the black market.

"The priority must be keeping customers in the regulated market, where robust protections are in place, rather than pushing them towards illegal operators."

Recent independent analysis from WARC found unregulated operators now account for almost half of all UK gambling advertising spend, while separate analysis by H2GC forecasts the amount staked with illegal operators in Britain will almost double from £17bn this year to more than £33bn by 2028.

Licensed betting operators in Britain must meet strict regulatory standards, including age verification, anti-money laundering checks and safer gambling protections. By contrast, illegal gambling operators operate entirely outside the law and provide no safeguards for consumers.

The regulated betting and gaming sector supports over 109,000 jobs, contributes £6.8bn to the UK economy and raises £4bn in tax each year.

The BGC said tackling the criminal gangs behind illegal gambling websites must remain a priority to ensure customers stay within the regulated market, where protections are in place.