British Council Uses Ukrainian Report on Illegal Betting Market

The Betting and Gaming Council (BGC) of the United Kingdom has enlisted Ukrainian consultancy Fincord Intelligence to quantify the scope of the illegal betting market, estimated at $50 billion in global revenue in 2025. The British trade body asserts that these illegal operators, with a strong online presence and sophisticated support networks, are targeting their advertising towards the most vulnerable players and evading regulatory protection systems such as the GAMSTOP exclusion register.

Illegal Betting Market: Report and Methodology

The report, commissioned by the BGC but not published in full, was created by Fincord Intelligence, a consultancy and lobbying firm based in Kyiv. Led by Andrii Yarmolskyi, a former member of Ukraine's National Security and Defense Council and expert on sanctions, Fincord has analyzed the structure and scope of the illegal sector. According to its findings, around 5,000 companies manage more than 15,000 websites and applications, utilizing multiple mirror domains and evasive technologies to bypass regulatory blocks.

The BGC asserts that these operators market their services specifically as "not linked to GamStop," allowing access to players who should be self-excluded within the British jurisdiction. The report indicates that advertising is focused on social media, affiliates, and messaging platforms to circumvent controls within the regulated British environment.

Illegal Operators and the Russian Economy

The Fincord Intelligence report highlights connections between illegal betting operators and entities associated with the Russian Federation. Since the Russian invasion of Ukraine in 2022, Western countries have heightened sanctions against high-profile Russian individuals and companies. According to the BGC, the Fincord report illustrates how companies with Russian ties might be using revenue from unlicensed betting to support economic interests and evade sanctions, thereby generating additional national security risks for Ukraine.

“Ukrainian authorities have assessed that some businesses linked to the Russian Federation may contribute, directly or indirectly, to Russian economic interests, facilitate sanctions evasion, and create broad national security risks for Ukraine,” the BGC statement cited the report's analysis.

However, the British organization clarifies that these elements are analytical assessments, not firm judicial sentences.

Evasion Networks and Tactics

The structure of the illegal market, according to Fincord, is far from being a collection of isolated sites. It represents complex ecosystems involving international companies, payment providers, crypto intermediaries, affiliates, technological and advertising infrastructures. Approximately 35% of payments in the illicit segment are already made with cryptocurrencies, a figure that could rise to 70% by 2030, further complicating regulatory action.

Illegal operators, the report warns, specialize in attracting self-excluded players in jurisdictions like Great Britain through social media, messaging platforms, and mirror domains. The Ukrainian case shows that this interconnection also entails financial and security risks on a larger scale.

Regulatory Strategies Against the Illegal Market

The BGC and its partners advocate for a change of approach in combating the illicit market. Spot site blocking and fines have proven insufficient against the sophistication of these actors. The industry demands a coordinated offensive against support networks: payment providers, crypto services, affiliates, advertisers, software developers, and digital hosts.

“The government must enhance its coordination between police bodies, regulatory entities, payment providers, and tech firms to attack the networks supporting these operators, rather than just pursuing individual sites,” emphasized Grainne Hurst, executive director of the BGC.

Fincord reinforces this vision: “Illegal gambling is no longer just a collection of loose websites but an international network encompassing payments, cryptocurrencies, technological platforms, and affiliates,” stated a spokesperson for the agency.

Impact on the Regulated Sector

Regulators such as the UK Gambling Commission and the Kansspelautoriteit of the Netherlands have intensified their efforts to curb the activities of unlicensed operators, though the feeling within the industry is that the footprint of the illegal market continues to grow. This frustration is heightened in light of intensified taxation and new regulatory restrictions affecting the regulated sectors in the UK and the Netherlands.

Among those affected is Bet365, which has just announced the elimination of 340 jobs in its offices in Stoke-on-Trent, Malta, and Gibraltar. The company recognizes that fiscal and regulatory pressures are among the reasons behind these layoffs.

The Challenge for the Integrity of the Sector

The expansion and sophistication of the illegal betting market, as evidenced in the Fincord Intelligence report, pose challenges for both consumer protection and the fiscal stability of regulated operators. The emphasis now falls on disrupting the entire support network of illegal operators and modernizing regulatory strategies for the current digital context.