Illegal Premier League betting could hit £1bn within year
The betting black market could take £1bn in illegal Premier League bets within a year, analysis has warned ahead of tonight’s kick-off.
The Premier League returns this weekend with its 20 clubs voluntarily banning gambling and casino brands from occupying the lucrative front-of-shirt sponsorship slot.
Gambling brands – not all of whom are regulated within the UK – are not banned from shirts, and many have moved on to sleeves and training kits, but there are fears changes to gambling duty undertaken by former Chancellor Rachel Reeves could drive fans to the unregulated black market through attractive-looking promotion material. Often wagers are not secure and bets do not always return the promised fund.
Gambling duty is being hiked from April despite concerns over the futures of a number of sports.
Grainne Hurst, Chief Executive of the Betting and Gaming Council, said: “Millions of football fans will enjoy a bet safely with regulated operators this season, backing their team week in, week out.
“But the criminal black market is looking to cash in too, taking millions of pounds on every round of matches while offering customers none of the protections found in the regulated sector.
“These operators pay no tax, fund nothing and answer to no one. Every pound they take is a pound lost to British sport and to the Treasury.”
Premier League gambling changes
Gambling brands have been replaced largely by tech, web and financial firms, while the likes of Aston Villa have signed Visit Rwanda and Newcastle United Knox Hydration.
Prime Minister Andy Burnham has come under fire from some within the betting industry, putting the terms “betting shops” and “dodgy businesses” in the same X tweet when discussing a crackdown on rogue operators.
One industry source told Morning Wire: “If the PM really wanted to tackle dodgy business he’d go all out to tackle illegal operators.
“They’re linked to organised crime, they hit the jackpot with Labour’s tax hikes and they’re growing like crazy.”
Added Hurst: “Licensed operators are regulated in Britain and follow strict rules on consumer protection, safer gambling and robust financial safeguards. Illegal black market operators do not. They undermine player protections, avoid taxes, ignore safer gambling standards and put consumers at serious risk.
“With illegal betting on the Premier League on course to reach £1bn a season, we support action that protects fans, upholds standards and keeps customers safe within the regulated market.”