Golden Legend

How to play Golden Legend

“If a customer finds black market sites that have all their preferred betting and gaming options, convenience dictates they will transfer a broad range of their expenditure there. Consumer recycling means that banning or restricting key products has a broader distortive impact on the entire market,” the report noted.

Notably for highly engaging verticals light online slots, if players are receiving a smaller-than-expected RTP (return to player), or bonuses have been restricted, they could again transition to an illegal offering where there are no such restrictions.

As has been flagged in previous reports, Regulus highlighted that the top 1% of active customers accounts for almost 50% of black market revenue across Europe. This follows a similar trend across licensed gambling as the report highlights “online gambling is a consumer discretionary expenditure item. This means a large proportion of expenditure is concentrated into a relatively small number of players.”

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Ahead of his departure Counsell said the Commission was developing a new strategy and ramping up its work to tackle illegal gambling, with Evans set to play a “pivotal” role as it also finalises measures from the Gambling Act review’s subsequent white paper.

Evans said she was commitment to enhancing “online safety” through “proportionate regulation with partnership and shared responsibility” involving regulators, industry participants and technology firms.

“She becomes chair at this incredibly important time, supporting a sustainable, thriving industry with the essential protections needed to prevent harm,” DCMS Secretary of State Lisa Nandy commented on the appointment.

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Instead, it proposed a risk-based approach. It suggested lighter controls on use cases such as coding assistants, but strong checks on customer-facing functions, particularly those involving fraud and responsible gambling.

Kenneth Brincat, CEO of the MDIA, said companies needed “practical ways” to better understand where AI fits within their businesses.

“Trust is fundamental to the responsible adoption of AI. As its use becomes increasingly embedded across the gaming sector, organisations need practical ways to understand where AI is being used, manage the associated risks and ensure that accountability and human oversight remain firmly in place,” he said.