According to Yield Sec platform, global illegal gambling revenue reached $714bn last year, overshadowing legal revenue of approximately $65bn.
Ismail Vali, CEO of Yield Sec, disclosed these figures at a panel discussion at ICE London, citing explosive growth in illegal gambling in Africa and the Middle East as well as high growth in the Americas due to light regulation.
It was noted that Hungary stands out with 93% of gambling revenue being generated illegally.
Alexandra Costello, VP of government relations for the AGA, highlighted the decline in searches for illegal sites in states where sports betting is legal, emphasizing the ongoing need to educate consumers about safe betting options.
