Rich World

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Beyond offering crypto payment solutions, a number of black market operators are licensed in “light touch” offshore jurisidictions which use opaque offshore operating structures to help to obscure company ownership and make local enforcement against these companies complex, the report noted.

By comparison, the long tail of smaller black market sites rely heavily on affiliates to generate traffic.

Much of the onus for the increasing black market is put on increasingly restrictive policies enforced by regulators across the licensed sector.

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Representatives from Corinthians, Palmeiras, São Paulo, Santos and Juventus met last week at the São Paulo Football Federation to discuss measures in response to the ban on betting advertisements in the city.

One of the proposals could be voted on next week by the city council and would directly affect the city’s clubs.

The meeting brought together 40 professionals from the clubs’ legal, communications and marketing departments, as well as executives from companies in the betting sector. Club officials are concerned about the financial impact of the measures, which could impact sponsorship contracts signed with betting companies.

About Rich World

The job cuts, which represent approximately 3% of Bet365’s workforce, will be made across the company’s offices in Stoke-on-Trent, Malta and Gibraltar.

Bet365 attributed the job cuts to a “highly competitive trading environment, plus increased regulatory and tax-related costs”.

A Bet365 spokesperson said the company was working to limit the number of job losses and support employees affected by the changes.