ILLEGAL GAMBLING
The online gambling black market – at what cost? IN THIS ARTICLE ANTONY GEVISSER EXAMINES THE MEANINGFUL AND PRACTICAL ROLE THAT RESPONSIBLE REGULATORS SHOULD PLAY IN THE MINIMISATION OF THE FLIGHT TO THE ‘BLACK MARKET’.
Introduction In recent months there has been an increase in discussions around the subject of the online gambling black market. Invariably these have focused on the degree to which regulators are aware of the issue and the extent to which they are meaningfully and practically acting to mitigate against it. This paper intends therefore to address these questions. What is the ‘Black Market’? For the purposes of this paper, the ‘Black Market’ is a coverall term for a situation where online gambling and/or sports betting products are offered within a defined territory,
without the requisite license or authorisation and where such a license or authorisation is clearly and lawfully required by an established, recognized and dedicated regulatory body. The black market is also referred to as the ‘illegal’ market. Generally, and in the context of this paper, the black market is distinct from ‘grey’ or ‘unregulated’ markets which broadly speaking, inter alia, lack clear, local territorial licensing requirements for online gambling products. Consequently, such offerings are, arguably, legally defensible. Within the black market itself there is also a nuanced difference between black marketers which are licensed under a regulatory regime and those which are not licensed at all. In instances where there is some type of license in place this will necessarily
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IMGL MAGAZINE | DECEMBER 2024
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