The Betting and Gaming Council has released an International Best Practice Guide laying out key policy objectives for global operators and regulators.
Compiled by professional consulting firm Alvarez and Marsal, BGC’s best practices guide compares regulatory approaches across each market around the world, offering a single body of evidence to critically analyse each and every strategy.
Grainne Hurst, BGC CEO, explained: “For the first time, the BGC has brought together the lessons, both positive and negative, which have been learned by operators and regulators around the world when it comes to the online gaming sector.”
“This sector will no doubt continue to grow internationally, offering huge potential benefits to existing markets and those which are currently developing.
“Through effective regulation of this new growth sector, governments can achieve their core priorities of raising tax, boosting growth and jobs, while delivering high standards for player protection.”
Key objectives for regulators outlined in the guide include:
Described as a “vital new resource” for both operators and policymakers, these core objectives are laid out directly for policymakers and the different approaches jurisdictions take to achieve them.
“In the UK, we have seen that firsthand, where balanced regulations have created a sector which raises billions in tax and investment in the economy, while supporting tens of thousands of jobs,” Hurst continued.
“But the risk posed by the wrong regulatory balance can undermine that good work, and give a foothold to the growing unsafe, illegal gambling black market, which is an ever-present threat in the UK.
“We are proud that BGC members are now a genuine global success story and a Great British export – that is the prize when the right regulatory foundations deliver sustainable success.
“If you are a policymaker navigating this new growth sector, or an operator seeking to broaden your international footprint, then this guide is for you.”
The guide will also hope to prevent players from turning to black market gambling. A recent BGC study in the UK showed that over 1.5 million players spend a total of £4.3bn on illicit gambling services each year.
Pierre Tournier, BGC International Director, described the online gaming market as a “complex landscape” involving a huge range of potential regulatory choices and outcomes.
“But for too long there has been a crucial evidence gap when those choices are considered by policymakers,” he explained. “Our ambition for this new guide is that it finally offers a solution to that problem.
“Drawing on the lessons from around the world, operators and policymakers, can take a global view of the pitfalls and benefits of different approaches, and make better policy decisions as a result.”
