In the letter, EGBA members say that despite their efforts to ensure a safe gaming environment, they face the challenge of the growth of the shadow economy, which is made up of websites that operate outside of Europe and increasingly threaten the safety of European players. Unregulated websites avoid the responsibilities of licensed operators and operate in Europe unsupervised. These sites are easy to find and, thanks to the popularity of Virtual Private Networks (VPNs), easily accessible.
Many unlicensed market operators lack consumer protection measures such as age verification and safer gambling policies. Unregulated operators attract players with sign-up bonuses, promotions and competitive odds, thus putting players who may show signs of problem gambling at high risk, the EGBA letter noted.
The growth of the shadow economy is facilitated by the legal regulation that operates in several European countries. The restrictions make licensed and regulated operators less competitive compared to operators in the unlicensed market, the letter emphasized.
“The worsening situation of the shadow economy in Europe shows the urgent need for national policy makers to take decisive action to protect their players. While we strongly support law enforcement measures against unlicensed market websites, the only effective solution is competitive and regulated online gambling markets,” informs the EGBA.
EGBA says the association’s top priority is to promote entertainment sustainability and safety, this includes improving safety measures and implementing new ones such as age and identity checks, safety tools, messaging and self-exclusion.
The open letter was signed by Bet365 CEO John Coates, Entain Group CEO Stella David, Flutter Entertainment CEO Peter Jackson, Betsson Operations CEO Jesper Svensson, Evoke CEO Per Wiederstam and Kindred Group CEO Nils Andens.
The EGBA is a Brussels-based trade association representing leading online gambling operators registered, licensed and regulated in the European Union (EU). The association works with national and EU authorities and other stakeholders to build a well-regulated and well-directed online gambling market that ensures a high level of consumer protection and takes into account the real situation on the Internet and consumer demand online, according to the EGBA website.
2024-09-12 05:43:26