Tougher Gambling Rules May Encourage Black Market According to Entain
In an exclusive interview with the Sunday Times, Entain (LON: ENT) CEO Jette Nygaard-Andersen had stated that too many rules on the betting and gambling sector might push more people towards underground or unlicensed operators.
The Coral and Ladbrokes boss advised ministers to strike a “healthy balance” with new rules as future regulations could encourage gamblers to seek out the “black market” of unlicensed websites.
It is somewhat unfair, the reputation that our industry has. It is utterly important for me that our customers understand that we have their safety at heart and that they see us as a trusted entertainment provider.
Nygaard-Andersen’s warnings come on the heels of research from the Betting and Gaming Council (BGC), which shows an increase in customers using unlicensed betting websites over the pandemic.
According to the research, the number of customers wagering at unlicensed betting websites soared from 210,000 in 2019 to 460,000.
In his contribution to the Telegraph last week, BGC Chief Michael Dugher said that the majority of the betting sector “strongly supports the gambling review as a once in a generation opportunity to deliver real change and much-needed regulatory certainty.”
However, he acknowledged that there should be a right balance “between protecting the vulnerable, and not spoiling the enjoyment of the overwhelming majority of people who enjoy a flutter safely and responsibly.”
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