Key Moments:
- Research from Yield Sec shows illegal operators captured over 70% of Europe’s gambling and casino market in 2024
- Black market betting across 27 EU countries reached £69.7bn [$81.1bn] in 2024
- An estimated 1.5 million UK bettors have staked over £4bn [$4.7bn] annually on unauthorized sites
Pressure Mounts on UK Treasury Over Gambling Tax Proposals
Rachel Reeves has been cautioned against moving forward with suggested tax increases targeting bookmakers. Concerns have been raised following new findings demonstrating the extent of illicit online gambling activities across Europe.
Yield Sec: illegal gambling operators captured 71% of Europe's online betting and casino market in 2024, or €80.65B, as regulators struggle with crypto casinos (Navya Menon / Bloomberg)https://t.co/vEiImr72oRhttps://t.co/ZyJEBgtKTy
📫 Subscribe: https://t.co/OyWeKSRpIM
— Techmeme (@Techmeme) August 26, 2025
Black Market Dominance Across the EU
According to Yield Sec, unauthorized gambling operators generated £69.7bn [$81.1bn] in sales throughout the 27 European Union member states in 2024. The research indicates illegal platforms accounted for more than 70% of the continent’s betting and casino revenue during this period.
| Region | Black Market Revenue (2024) | Market Share |
|---|---|---|
| European Union (27 countries) | £69.7bn [$81.1bn] | Over 70% |
| United Kingdom | Over £4bn [$4.7bn] | Not specified |
Impacts in the United Kingdom
While UK figures are lower compared to the wider EU, increasing the levy on bookmakers to align with online casino taxes has prompted warnings from industry observers. There is concern that higher taxes could drive British consumers toward unregulated and illegal platforms.
Estimates suggest approximately 1.5 million UK residents are engaging in black market betting, with total stakes surpassing £4bn [$4.7bn] per year on various sporting events.
- Author
Daniel Williams
