The UK’s regulated gambling industry is standing on a cliff edge…
Young British gamblers are leaving regulated platforms at an alarming rate, drawn to unregulated sites promising instant play, better odds, and anonymity.
This is an existential threat to our industry.
For young players, the dangers are life-altering.
Unregulated operators exploit them with predatory practices: withholding winnings, manipulating odds, and offering no consumer protection.
A 2022 study found these players to be 2.5x more likely to develop severe gambling problems.
For the industry, the stakes are massive.
Every young gambler who defects to unregulated platforms undermines years of work in responsible gaming.
And the financial implications? HMRC reported £3.1 billion in betting duties in 2023 alone.
A migration to unregulated markets could decimate this revenue, impacting public services and the wider economy.
For society, the risks are immeasurable.
Unchecked gambling addiction has ripple effects, from mental health crises to financial ruin. If the industry doesn’t act, the cost will be borne by individuals and communities alike.
The way forward isn’t easy, but it’s clear:
• Innovate responsibly to attract younger audiences.
• Leverage technology to block unregulated operators.
• Collaborate across sectors to educate and protect vulnerable players.
• The UK’s gambling landscape is at a turning point.
If we don’t act now, the consequences will ripple for years.
Want to dive deeper into this issue? This topic was explored in my newsletter, The Shadow Economy: https://lnkd.in/deVRqrYU
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Thank you so much for your view on this important subject!