UK illegal crypto gambling struggle intensifies: Authorities alarmed at the allure of overseas platforms influenced by regulatory challenges. (Photo by Art Rachen on Unsplash)
Crypto gambling is outlawed in the UK, but the shocking rise in players and surprising bad actors is highlighting many serious problems.
Authorities are deeply worried that this negative trend will increase the already high number of gambling addicts in society.
When I saw the news that the UK is concerned about ‘illegal’ crypto gambling, I was not surprised. Anyone who knows the UK gambling industry wouldn’t be surprised either. I wrote a piece on this exact topic before with the key phrase in the introduction of that news report being ‘billion-dollar industry ruined by ministers trying to look busy‘.
What did the British government expect? It was apparent there would be a backlash when targeting the industry as a diversion to cover up for the diabolical management of other issues in the country.
And here it is – gamblers fed up with the new rules are now looking overseas for non-UKGC gambling sites. What’s more, with crypto not being accepted by UK gambling sites, those who prefer to gamble using Bitcoin will look for crypto casinos, and all that is available are non-UKGC casinos. Quite how does the word ‘illegal’ come into it? I am not sure if it is illegal for players to sign up for overseas casinos, but the law is aimed at overseas operators not being allowed to accept UK players.
Another point it boils down to is ministers not doing their assigned job. They have deflected their inability to manage the country’s social and financial issues by making noise about gambling. The public and other ministers get behind the ‘anti-gambling’ agenda after ad campaigns highlighting what are admittedly horrific stories about gambling addiction. And bingo! Everyone seems to forget about the endless failures within the constituencies they should improve. It’s a classic case of diverting people’s attention away from the real issues in the UK.
Similar situation in Australia: Over in Australia, there is no licensing for online casinos. Only sportsbooks. The country is having issues with players seeking out crypto casinos for slots and table games. Meanwhile for sports betting, they are finding better deal at overseas casinos because of the restrictive rules on legal online sports books in the country – you read more about Australia’s situation here – Australian Responsible Gambling Approach Having an Opposite Effect.
The Online Crypto Gambling Allure
The beginning of crypto was a niche exclusive to a few select people, however that changed over the years and crypto is now a global idol. While some have invested in cryptocurrency to diversify the portfolio, others have taken the online casino route. Since their popularity began to grow and amass more followers, it was just a matter of time before the online casino industry took a plunge. The success of these platforms was undeniable, however, foul play also began to took over in the form of crypto scams and other crypto-related crimes.
At the beginning of this year I reported on this very topic – 250,000 UK Players Visited Black Market Gambling Sites. It covers the allure of gambling at overseas gambling entertainment sites, and this is where players run into crypto.
Sky News’ Shocking Findings
A recent Sky News report investigating online crypto casino sites highlights plenty of possible law breaches. One of these shocking findings is the promotion of illegal crypto casinos by social media influencers and even streamers. On top of this, it was revealed that some of these influencers employ scam tactics like enticing their followers to join casinos with “fake money”. Moreover, the investigation showed how these influencers are potentially breaching UK laws by presenting their followers how to access illegal crypto gambling platforms.
Health Secretary’s Remarks
The UK’s Health Secretary, Steve Barclay, was questioned about the recent rise in popularity of online crypto gambling. His response stated that the Health Department is highly aware of this issue and the implication that it may trigger an increase in gambling addiction. The opening of seven new gambling addiction treatment centers in the summer point “to the wider challenge that we have as a country in terms of gambling addiction.” says Barclay. The Health Secretary also acknowledged the importance of the illegal crypto gambling exposé and applauded the effort.
My opinion: Yes, players heading non-UKGC casinos is a concern. Mainly because many of these platforms do not make responsible gambling tools available. Not all of us need these tools, but for those who have already ban themselves in the UK using Gamstop due to gambling issues, it is an issue.
Regulatory Actions
Explain the ongoing changes in the UK’s gambling industry and potential regulatory reviews by the Gambling Commission. Discuss the implications of these changes for online gambling and cryptocurrency usage. Sky News’ investigation drops just in time as the UK’s gambling industry is facing new changes.
The White Paper on the Gambling Act is prompted to update gambling rules and regulations to “protect the most vulnerable while also allowing everyone else to enjoy gambling without harm” as stated by the UK’s Secretary of State. Therefore, the Sky News’ report on online crypto gambling sheds light on related issues and gives insight into how deep the issue has rooted into our society. According to Sky News, the Gambling Commission (the gambling regulator in the country) would like to review the findings of the investigation.
Unregulated illegal crypto gambling in the UK can have a drastic impact on its society. Gambling addiction being one of the major consequences of using illicit sites and the increased risk of crypto scams. In light of the Sky News’ report and the White Act, authorities are showing how deeply concerned they are over the issue and , at the same time, how willing they are to take action.
Interesting video: If you can access the news from your country (as BBC often blocks its video content from overseas viewers’ there is an interesting investigation into the topic ‘Are crypto casinos breaking the law?‘ by Sky’s Sanya Burgess.
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