ATG Urges Banks to Combat Rising Black Market Gambling in Sweden
Date: 2024-03-17 Author: Dima Zakharov Categories: EVENTS
Rising Concerns in Sweden
Aktiebolaget Trav och Galopp (ATG) has released its Q4 channelisation report, revealing a worrying trend in Sweden. The report indicates a significant decline in channelisation rates for gaming, falling far short of the government's target.
Escalating Black Market Activities
ATG's investigation highlights a tenfold increase in visitor traffic to unlicensed operators since 2019. Shockingly, out of the top 20 unlicensed sites in Q4, a majority share the same platform providers as licensed operators. Despite these alarming findings, none of the black-market sites were on the regulator's banned list.
ATG's Plea to Banks
ATG's Chief Executive, Hasse Lord Skarplöth, expresses deep concern over the rise of unlicensed gambling. He calls upon Swedish banks to cease transactions with black-market operators, emphasizing the need to safeguard vulnerable individuals from gambling-related harm.
Europe's Black Market Challenges
Germany and France face similar challenges with the black market, where unlicensed operators thrive. In Germany, nearly half of all online gambling occurs with unlicensed operators, resulting in substantial losses in tax revenue. France, too, grapples with an illegal gambling market worth billions, posing significant regulatory challenges.
ATG's Resilience Amidst Challenges
Despite the prevailing concerns, ATG reports a notable increase in net profits for the fiscal year 2023. This growth is particularly commendable amidst stagnation in the overall gambling market.
With ATG's call to action and growing regulatory concerns, the spotlight remains on addressing the escalating challenges posed by the black market in Sweden and beyond.
