BGC CEO: Fight against the black market is a “shared challenge”
Grainne Hurst says industry stakeholders must work together to drive standards up as threat of unlicensed sector continues to grow
Betting and Gaming Council (BGC) CEO Grainne Hurst has said the threat posed by the black market represents a “shared challenge”, as she called on all stakeholders to support the trade body’s efforts.
Speaking at the annual Gambling Anti-Money Laundering Group (GAMLG) training event today, 12 February, Hurst took the opportunity to further drum up support to push back against the unregulated sector.
The GAMLG event has run since 2022 after the body was established in 2016. It aims to improve AML efforts across the industry.
Speaking to more than 100 guests in London, Hurst, who was joined by figures from the Gambling Commission and the Treasury, called for a further raising of standards.
She said: “This is a shared challenge and it requires a shared response, and GAMLG is the independent body by which we can, together, raise standards across our sector, and ensure we are fulfilling our responsibilities to keep regulated betting and gaming crime-free.
“As a sector, we should lead the way in making certain our products are not hijacked and misused by those engaged in illegal activity, activity that has no place in our sector, activity which undermines our laws and our society.”
The CEO also referenced the BGC-commissioned Frontier Economics report from last year, which estimated 1.5 million adults in Britain are spending up to £4.3bn on online and land-based illegal gambling.
Within that sum, £2.7bn is estimated to be spent online across sports betting, casino, horseracing and poker.
A report from boutique analyst firm Eilers & Krejcik Gaming, also published last year, pegged the online black market at £1.5bn.
The team at EKG said generous bonuses and lower AML and KYC thresholds were key drivers for black market growth.
Hurst added: “Raising standards is part of the DNA of the BGC, and I think one of the surest demonstrations of that is on display today. Because for the first time, we have opened up this event, now a regular annual fixture for the sector, to non-BGC members.
“This was a very deliberate decision for us because we recognise knowledge-sharing and understanding best practice is the key to the unified response that, I am sure, we all seek when it comes to keeping regulated betting and gaming crime-free.”
GAMLG chair Keith Bristow added: “The professionalism and commitment of our members makes all the difference.
“That commitment remains strong, which is good news for the industry, its members, the police and public. Unfortunately, it’s not such good news for organised crime and fraudsters.”
The BGC is continuing to work on a new AML code of conduct for members, while Hurst has said in recent weeks that suppliers affiliated with the trade body have made a commitment to not supply unlicensed operators.
That stance came after the Gambling Commission launched an investigation into Evolution after the live casino supplier’s content was found on black market sites.