ICE VOX 2024
What's Black and White and Unregulated All Over? Weighing the Risks of Operating in the Grey Market
How grey can you go? Against an upturn in global consolidation, new markets, and the European Commission raising its AML/TF threat level for online gambling to the highest possible state of alertness, governments and financial institutions are gearing up to try and stamp out illegal gaming. Yet regulated operators (and some jurisdictions) risk getting caught in the crossfire – and particularly those in Europe – finding their access to financial services reduced. At the centre of this is confusion over the definition of illegal gambling, and the last great unknown: how banks will define, and use, it in their dealings with the industry.
This panel will consider whether the risks of grey market exposure outweigh the rewards, if banking and payment restrictions do more harm, and how EU, US and offshore regulators can work together to promote sustainability.
• Is grey just a shade of black? The latest data on the scale of US and European illegal gambling markets.
• What should operators do to lead by example, should they withdraw from unregulated markets or stay the course?
• How will new, tougher “single rulebook” AML/TF regulations from the EU affect the prospect of banking and payment providers de-risking operators?
• With the illegal market so far proving largely resistant to attempts to reduce its size, how can offshore jurisdictions stay ahead on FATF and MONEYVAL?