Following opening remarks from Gloria de Piero and Liam Halligan, Baroness Fiona Twycross joins the stage for her keynote speech - examining the illegal market with BGC CEO Grainne Hurst.
Baroness Twycross joins the stage thanking the BGC for their constructive approach in engaging with the government. She begins by immediately addressing the gambling duty changes soon to be implemented into the market, as she acknowledges that the government understands that these tax levies will affect business, stating that the decision was difficult but necessary - stating that the government took steps to protect the land-based sector.
“This government is not anti-gambling, we want to work together”
Indeed, Baroness Twycross further underlines that she has spent time visiting key gambling headquarters and locations across the UK to help further understand the regulated industry, as she moves on to the main theme of the AGM - the illegal market.
She highlights the £26m dedicated to the Gambling Commission to help tackle the unregulated market in the coming years. Taking the opportunity to further underline the Government’s new Illegal Gambling Taskforce - of which Grainne Hurst is a member - has numerous powerful partners that can make a tangible difference to tackling the unregulated space.
Moving forward to one of the most significant updates of the week, Baroness Twycross discusses the recent sports sponsorship ban for unregulated operators. She states that she is grateful to the BGC for its assistance in developing these new regulations and for championing a safer, more responsible gambling industry.
In conversation with Grainne Hurst: From policy to practical realities
Following an informational video on the dangers of the black market which underlines a lack of protection for players, Gloria de Piero and Liam Halligan open the discourse with the BGC CEO.
Reflecting on the video, Hurst underlines the ‘terrifying’ potential effects and dangers of the black market. De Piero switches the subject matter to pose the question to Hurst of where the market has progressed to today - with Hurst replying that she retains that betting is still primarily an enjoyable experience for millions across the UK.
“Gambling is a great part of British culture, and it always will be. But we’re now at a crossroads.”
Hurst builds on the video’s message by stating that the new tax rises soon to be implemented in the UK will significantly increase the power of the black market going forward. She points to the “cumulative burden of regulation,” stating that she believes the government needs to pause and assess where the sector is with regard to the many significant changes for which it is currently bracing itself: “It’s cost on top of cost.”
Moving into the headline subject of the AGM - the illegal market: Real risks. Real harms.
The BGC’s video, alongside Halligan and Hurst, highlights lower taxation rates in nations such as Denmark and Spain in contrast to higher rates in nations such as Holland and France. There is concrete evidence, the BGC CEO underlines, that higher taxation rates lead to a larger black gambling market.
De Piero moves on to pose the question of how people end up on an unregulated site - Hurst states that it is “ridiculously easy.”
She highlights that many players who end up on these sites don’t know that they’re illegal. Many advertise through social media, but those who intentionally look for these sites can simply type in ‘non Gamstop gambling sites’ on Google.
Hurst acknowledges that the £26m going to the Gambling Commission to help tackle the black market is a ‘“step in the right direction” but she does worry that it might not be enough to tackle the proliferation of the unregulated space moving forwards.
“No matter what our views are on gambling, we can surely all agree that players should be protected when they engage with the activity.”
She reiterates that the fact that the industry is calling for a tax-rise slowdown doesn’t mean the industry is calling for lower standards. The BGC CEO further explains that the organisation was very clear in its warning to the Government that further restrictions on the regulated market would push further funding for the illegal market - but they decided to push forward regardless.
The burden on the regulated sector has now, according to Hurst, reached a tipping point; stating that she is concerned that businesses are now less likely to want to invest in the UK because they don’t see stability, certainty and service here.
“Everybody loves betting, people have such positive affiliations and memories connected to it - and we need to get that story out there more!”
Success, according to Hurst, looks like building further trust within the sector, cutting off the pipeline to the black market, combating the narrative that gambling is a shameful activity and providing a level playing field: “The regulated sector has so much to give.”
This latest AGM comes at a critical point for the UK market, with tax rises and new regulations on the horizon
