The Betting and Gaming Council (BGC) took part in a DCMS conference to converge on the future of the gambling industry in the United Kingdom.
The roundtable was hosted by Shadow Minister for Gambling Louie French MP and Shadow Secretary of State for Culture, Media and Sport Stuart Andrew MP, who gathered industry leaders to discuss pressing matters such as regulatory changes, responsible gambling, and the economic impact of the industry.
The CEO of the Betting and Gaming Council, Grainne Hurst, also took part in the conference, together with representatives from other major operators, including bet365, Entain, The Rank Group, and Flutter.
Hurst once again reiterated that open discussions are crucial for resolving challenges and capitalizing on opportunities in the iGaming sector and highlighted the importance of partnerships between policymakers and industry stakeholders.
Moreover, the conference also discussed maintaining a healthy balance between consumer protection and economic growth, with industry leaders discussing ongoing challenges and underlining areas where the political opposition could support such policy development.
However, the most pressing matter on the DCMS daily agenda was the concern raised by the Betting and Gaming Council to tackle the growing problem that is illegal gambling in the country, especially in relation to the upcoming Grand National horse race.
According to data by the Betting and Gaming Council, up to £10 million ($13 million) will be wagered on the Grand National at illegal gambling operators, something that will deprive the Treasury of revenue and put players at risk.
The Betting and Gaming Council states that the only way to battle illegal gambling and unlicensed operators, which are on the rise in the UK, is to create balanced regulations and a steady tax regime, something that the authority believes would diminish illegal gambling and protect the players and the regulated market.
Yet, the Betting and Gaming Council warns that this must be done in a balanced manner, as excessive regulations and restrictions could potentially push more players toward illegal gambling operators.
