In 2024, the black market in gambling continues to thrive despite global efforts to regulate and legalize the industry. Even countries that have embraced gambling as a legitimate business, and heavily regulated the market, are seeing skyrocketing popularity when it comes to illegal brands.
This year’s Sustainability Report from the European Gaming and Betting Association (EGBA) had a clear focus on safe gambling with a foreword from EGBA’s Secretary General as well as a joint CEO letter highlighting the worrying growth of the black market. The EGBA is a trade association representing some of the largest online gambling operators established and licensed in the EU.
Affiliates are at the forefront of these developments as they are faced directly with the dwindling number of users.
Adrian Stancu, manager of the iGaming affiliate site Pariurisport.com, shared, “The allure of the black market lies in its ability to offer services and opportunities that legal channels may restrict or tax heavily. Even in Romania, a market that has been heavily regulated for almost a decade on gambling and usually has acted swiftly against illegal operators, we see the black market options take a big chunk of the players. These operations often skirt regulations and taxes, making them appealing to both operators and gamblers seeking anonymity and potentially higher payouts.”
This clandestine industry operates through various means, from illicit online platforms accessible through the dark web to underground casinos tucked away in hidden corners of cities. But the bigger concern is that with the popularity of VPNs, these websites, often run from outside Europe, are easily accessible for most users.
“One of the primary concerns with the black market in gambling is the lack of consumer protection,” added Stancu. “Unlike regulated markets where gambling operators are required to adhere to strict guidelines to ensure fair play and protect customers from addiction, black market operators operate with little to no oversight. This leaves gamblers vulnerable to rigged games, non-payment of winnings, and potentially dangerous financial transactions.”
However, fighting the black market is not as easy as it seems. The anonymity provided by cryptocurrencies and digital payment methods makes it difficult to track financial flows and identify those involved.
Governments and law enforcement agencies continue to grapple with how best to address the black market in gambling. Efforts range from increased surveillance and enforcement actions targeting operators to educational campaigns aimed at raising awareness about the risks of unregulated gambling. However, the underground nature of these activities presents an ongoing challenge, requiring innovative approaches to curb their influence effectively.
Looking ahead….
The future of the black market in gambling remains uncertain. Technological advancements may continue to facilitate its operations while evolving societal attitudes and regulatory frameworks could influence its prevalence. Ultimately, finding a balance between consumer demand, regulatory oversight, and societal impact will be crucial in shaping the landscape of gambling, both legal and illicit, in the years to come.
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