The Betting and Gaming Council (BGC) of the UK has launched the first International Best Practices Guide, aimed at providing comprehensive tools for policymakers and operators in the global online gambling industry to help develop and improve regulatory frameworks.
Comparative Methods
BGC explains that over the past twenty years, the online gambling industry has developed rapidly, expanding from just a few active regions in 1994 to over 100 jurisdictions today. This rapid expansion has prompted governments worldwide to explore how to best regulate the industry while balancing key policy objectives.
The guide, prepared by professional services firm Alvarez & Marsal, reviews measures taken in different jurisdictions around the world and provides insights into the advantages and challenges of these measures.
BGC's Director of International Affairs, Pierre Tournier, stated: "Policymakers have long faced a critical evidence gap when making decisions. Our hope for this new guide is that it ultimately provides a solution to this issue. By drawing on experiences from around the world, operators and policymakers can assess the pros and cons of different approaches from a global perspective, thus making more informed policy decisions."
Main Regulatory Objectives
The guide lists several core objectives of regulatory bodies worldwide, including:
Addressing the Black Market Threat
One of the main focuses of the guide is the ongoing threat posed by the illegal gambling market. According to another study commissioned by BGC, about 1.5 million UK gamblers bet on the black market, with an annual betting volume of GBP 4.3 billion. The report warns that regulatory imbalances may inadvertently lead players to unsafe, unregulated platforms, thereby undermining key policy objectives.
BGC's CEO, Grainne Hurst (pictured above), emphasized the importance of maintaining a proper regulatory balance, stating: "In the UK, balanced regulation has led to a thriving industry, contributing billions of pounds in national taxes and creating job opportunities. However, failing to achieve this balance could lead to the rise of unsafe black market activities."
