In just about any industry that’s subject to national rules, regulations, licensing, and laws, black markets will invariably arise in an attempt to make some quick cash from unknowing – and sometimes knowing – customers. Not beholden to regulators, black market operators can get away with offering a poor or unreliable product, not meeting the basic needs of customers, and even refusing to deliver on promises to customers.
Having earned his master’s degree in business management, Vlad George Nita knows the threat and impact of black markets rather well. Now, he’s collected well over five years of in-depth experience of the iGaming industry, and can see the focus shifting towards ousting its black markets. In his role as lead editor at the review and rankings site KingCasinoBonus, Nita has made waves by enhancing industry transparency through his insights.
Recent months have yielded much debate and even the beginnings of some action to combat those acting beyond the permits of law and regulation, with Nita saying that the solution for those in the regulated market is simple: “we need to rebel against the iGaming black market.”
Stats on the Shady Sector
The UK is generally seen as one of the best iGaming markets in the world, with much of that being owed to the oversight and regulatory framework enforced by the Gambling Commission. The UKGC has very much led the way in Europe and as the iGaming industry cultured there began to be welcomed into new markets around the world. As such, it’s quite startling to see research find that there’s quite a hefty black market in operation.
In a study highlighted by the Betting and Gaming Council in September 2024, it was found that a black market does run parallel to the highly regulated UK sector, but offers anonymity, unrestricted play, and zero verification requirements to be of appeal. Pressingly, the equivalent of 2.8 million people, or 15% surveyed, said that they have at least heard of one black market iGaming site.
Shining a Light to Guide Players Away
The platforms freely use social media and messaging apps to advertise themselves, with VPNs increasing the access to them even in the UK. So, what can the regulated world of iGaming do to deter players from the unregulated, shadowy parts? To an extent, the iGaming black market effectively can’t be vanquished in its entirety, but influential parts of the regulated sector can fight back.
Bodies beyond the operators can also rebel against the black market, as KingCasinoBonus does with Nita. Here, the platform seeks to become “the trusted source of reliable information” for UK players, he states. It will only recommend sites regulated by the UKGC, and just as importantly, “we’re honest in reviews.” The reviews and rankings will point out where even regulated sites are lacking, and where UK-based players can get the best, fully legal experiences.
Furthering this, the UKGC announced in October 2024 that it’ll be developing its first-ever comprehensive study into the black market of the UK. Results will arrive towards the end of spring next year. Operators can double down on advertising and showcasing the parts of their services that adhere to UK laws and regulations, such as being fully licensed and drawing from UKGC-approved providers.
The black market is a known issue, and shining a light on it to help guide players away will only benefit everyone involved in iGaming – from players to providers. “This is how the industry across all sectors can rebel,” says Nita.
