SBC News Voice of the Sports Betting Industry
Ahead of this weekend’s Grand National race, the Betting and Gaming Council (BGC) has warned that almost £10m of bets could be placed on the black market.
Proprietary research by the trade body, which represents more than 90% of the UK regulated sector, predicts £250m will be staked on the Aintree showpiece. However, it also predicts that £9.4m will go to black market operators – made up of both domestic and international wagers.
Grainne Hurst, BGC CEO, said: “Almost £10m is predicted to be staked illegally on the unsafe, growing gambling black market at this year’s Grand National, fuelling crime, undermining player protection measures, while sucking vital cash from sport and the Treasury.”
Back in 2024, the BGC conducted a study which found that 1.5 million Brits are being converted to the black market thanks to aggressive advertising that does not adhere to regulations, resulting in “up to £4.3bn” in stakes lost to illegal gambling.
A number of market experts believe that the UK Treasury will lose an additional £335m during Labour’s five-year government period if more action is not taken.
UK horse racing specifically holds a significant appeal for online and offline black market operators due to its international popularity. The Grand National in particular attracts 600 million viewers from across 140 countries.
Hurst added: “The Grand National is one of the precious few sporting events in this country with the ability to unite the entire nation around a single spectacle. It is the nation’s punt, and it is being subverted by illegal operators offering illicit gambling to thousands of punters, many of whom are vulnerable to harm.
“This should serve as a wake-up call for the Government who must guard against overbearing regulations which risk driving punters into the arms of illegal operators.
“Balanced regulations and a stable tax regime are the best defences against this black market menace, which now poses an existential threat to British racing.”
