Italy Faces Criticism from European Organization Regarding Soaring Illegal Gaming
A popular sports news website from Italy, La Gazzetta dello Sport, disclosed that the nation's thriving black-market online gambling industry now boasts an estimated worth of over $26 billion. The European Gaming and Betting Association (EGBA) asserts that these escalated tendencies can be traced back to Italy's enforced ban on gambling advertisements, a prediction that might hold weight for other countries considering similar measures.
La Gazzetta dello Sport revealed that the total revenue generated by illicit gambling activities in Italy has surpassed €25 billion ($26.47 billion). Such figures pale in comparison to the consumer sector's loss of funds and employment opportunities, as the government misses out on an alarming €1 billion ($1.05 billion) in tax revenue.
Not long after, the EGBA issued a statement cautioning against the consequences of Italy's anti-gambling advertising measures. While acknowledging the efforts of the Customs and Monopolies Agency (ADM) in constraining the expansion of illicit online gambling, they emphasized that it's a persistent task.
The ADM has ordered the blocking of 9,800 unlicensed websites this year, a drastic increase from the meager 400 last year. Yet, the escalating presence of unlicensed online gambling in Italy has captured worldwide attention.
Illicit Advertising Favors Black Market Operators
The EGBA declares that the volume of bets made through offshore platforms is comparable to the total regulated online gambling income of eight other European Union (EU) countries. They suspect Italy's stringent advertising restrictions contributed to the burgeoning black market.
Maarten Haijer, EGBA Secretary General, stated, "The significant size of Italy’s online black market is indeed concerning, but not all that surprising given that Italy has one of Europe’s most stringent regulatory regimes for its licensed gambling companies." He continued, "Italy’s ban on advertising for licensed gambling operators is clearly favoring the black market."
The complete absence of advertising differentiates reputable Italian gambling websites from their illicit counterparts, impeding informed consumer choices. Meanwhile, despite the increase in blocked sites, the organized response against black-market operators remains unsatisfactory.
A pressing worry stems from the multitude of Italian gamblers wagering on non-EU-based platforms with questionable consumer protection standards. The EGBA insists these offshore sites might not offer a reliable level of consumer safeguards, creating potential hazards for Italian gamblers.
Cautionary Tales for Regulatory Measures
The swelling size of Italy's unregulated online gambling sphere instills unease among authorities and watchdogs. Given the proportions of black-market activity, countries where gambling ad restrictions are being deliberated should learn from Italy's story.
Britain, in particular, is cautioned to tread carefully. The imminent introduction of stricter gambling measures heightens the uncertainty. The likelihood of players flocking to unregulated platforms eyes wide open to potential harm cannot be ignored. Meanwhile, the regulated gaming industry in the UK could face severe repercussions from a shrinking customer base.
Considering the arts of finding a balance between stringent consumer protection measures and sustaining a robust regulated gaming sector is a complex task for policymakers. In the end, accommodating both interests might prove to be the key to averting the chaotic turning tides of illicit gambling activities.
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Source: www.casino.org
