BGC Warns of $50 Billion Global Illicit Gambling Market Targeting UK Consumers

The global illegal online gambling market generated around $50 billion in gross revenue last year, according to research by Fincord Intelligence highlighted by the Betting and Gaming Council (BGC). This staggering figure is a testament to the sophistication and reach of these illicit operations.

Fincord estimated that about 5,000 illegal operator structures ran more than 15,000 websites and apps last year, using mirror domains, virtual private networks (VPNs), and browser-based applications to restore access to blocked services. This complex infrastructure allows operators to evade enforcement and target vulnerable customers.

The report said some illegal operators deliberately targeted people who had self-excluded from gambling, including UK consumers registered with GAMSTOP. These 'Non-GamStop' casinos promoted their services through search engines, social media, affiliates, influencers, and messaging platforms like Telegram and WhatsApp. They offered deposit bonuses of between 300% and 500%, higher advertised returns, and faster payouts to attract customers.

Cryptocurrency has become a significant part of the illegal market, accounting for around 35% of payments across illegal gambling sites. Fincord estimated that this proportion could exceed 70% by 2030.