THE HARMFUL BLACK MARKET SET FOR BOXING DAY BONANZA AS BRITS SET TO BET UP TO £100M

The harmful illegal black market is set for a Boxing Day bonanza, with Brits expected to stake up to £100 million illegally in a single day, the Betting and Gaming Council has warned ahead of one of the busiest days in the sporting calendar.

Industry analysis based on data from H2 Gambling Capital shows the black market already accounts for billions of pounds in illegal gambling stakes each year. With Boxing Day estimated to represent around one per cent of total annual betting activity, this suggests up to £100 million could be staked with harmful illegal operators on the day alone.

The BGC said the figures highlight the growing scale of the harmful illegal black market, which stands ready to exploit peak sporting moments while offering no consumer protections, no age verification, no safer gambling tools and paying no UK tax.

The warning highlights the increased concern that the Chancellor’s recent Budget will accelerate the growth of the harmful illegal black market even further. The Government’s own forecaster, the Office for Budget Responsibility (OBR), has acknowledged that the tax changes will reduce expected revenues by around one-third by 2029-30 as consumers change behaviour including moving away from regulated betting and towards illegal operators, resulting in an estimated £500 million loss in projected tax receipts next year.

Independent modelling from EY shows the combined impact of these tax changes could see more than £6 billion in stakes diverted to the black market, representing a 140 per cent increase in its size, while putting nearly 17,000 jobs across online betting and gaming at risk.

Grainne Hurst, Chief Executive of the Betting and Gaming Council, said: “Boxing Day is one of the biggest days of the year for sport and betting, and the harmful illegal black market is gearing up for a huge payday, with Brits set to stake up to £100 million illegally in just 24 hours.

“That money goes straight to criminal operators who offer zero protections and pay no tax. If higher taxes make regulated betting less attractive, the harmful black market will be the only winner. That is bad for consumers, jobs and the public finances.”

Licensed operators are subject to strict rules on player safety, affordability checks and anti-money laundering, while also contributing billions to the UK economy and supporting British sport and racing. By contrast, the harmful illegal black market operates entirely outside the law, targeting UK customers without oversight, accountability or tax contributions.

The regulated betting and gaming sector supports over 109,000 jobs, and pre budget already contributed £6.8 billion to the UK economy while paying £4 billion in tax each year, as well as providing vital funding for sport, racing and tourism.

The BGC is urging the Government to work with the industry to ensure policies strike the right balance between strong consumer protections and preventing the harmful illegal black market from cashing in this Boxing Day.