UK racing personality Frankie Foster fronts video series on betting black market

Racing presenter Frankie Foster is the new face of a Betting and Gaming Council video series exposing the risks of the gambling black market.

Foster is fronting a new campaign from the Betting and Gaming Council (BGC) that aims to expose the rapid growth of the UK black market, while also warning that raising taxes on regulating betting would only make the problem worse. At the moment, it’s estimated that around 1.5 million Britons are already gambling with unlicensed sites. That represents up to £4.3 billion ($ 5.8 billion) worth of bets.

The operators of these illegal services don’t pay any tax and the lack of regulation leaves them able to break UK rules of fairness around gaming. The biggest concern, however, is the targeting of vulnerable groups at the greatest risk of gambling-related harm who have already chosen to self-exclude.

Foster demonstrates in the video how easy it is to use the illegal sites, showing how a simple Google search exposes you to illicit sites that appear legitimate.

“Raising taxes on responsible, regulated betting firms will not generate more revenue for the Treasury,” argues the BGC. “Instead, it will drive more customers towards the black market, where there are no protections, no investment in sport and no contribution to the public finances.”

Indeed, previous data from the BGC estimated that 28% of gamblers could turn to illegal betting if taxes were raised.

The cost of black market betting

It’s estimated that black market activity could already be costing the government £335 million ($ 451 million) in lost revenue over the course of five years. In contrast, the regulated betting industry contributes £6.8 billion ($ 9.2 billion) in gross value added, £4 billion in taxes, and supports 109,000 jobs across the country.

The BGC is calling on policymakers to recognise the dangers of driving punters into the hands of unlicensed and unsafe gambling websites, as well as raise awareness amongst the public about what to look out for.

“Get the balance on tax and regulation wrong and you hand a competitive advantage to the black market, where operators pay no tax, contribute nothing to British sport, and offer no safer gambling protections,” said BGC CEO Grainne Hurst. “The black market is growing and actively targeting UK customers. Any tax rise, whether on betting or gaming, makes that offer more attractive and puts more players at risk.”

Featured image: BGC

The post UK racing personality Frankie Foster fronts video series on betting black market appeared first on ReadWrite.

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Rachael Davies

Tech Journalist

Rachael Davies has spent six years reporting on tech and entertainment, writing for publications like the Evening Standard, Huffington Post, Dazed, and more. From niche topics like the latest gaming mods to consumer-faced guides on the latest tech, she puts her MA in Convergent Journalism to work, following avenues guided by a variety of interests. As well as writing, she also has experience in editing as the UK Editor of The Mary Sue , as well as speaking on the important of SEO in journalism at the Student Press Association National Conference. You can find her full portfolio over on…

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