Setting Up an Illegal Bookmaker Is Easier Now Days

James Porteous, the HKJC’s senior due diligence & research manager, has been vocal in his criticism of illegal operators. According to Porteous, the proliferation of technology has made it easier than ever for the companies and sportsbook brands in order to become an illegal bookmaker .

He said companies can get licenses for few thousand dollars and can offer similar to regulated betting markets options at their platforms .

He Also said that Crypto made tracking and regulations scrutiny almost impossible for the regulatory departments on the casinos .

He Advised consumers And players to take part in betting only on properly regulated platforms indeed .

 

[CR7]

James Porteous, the senior due diligence & research manager at the Hong Kong Jockey Club (HKJC), has raised concerns about the increasing ease with which companies and sportsbook brands can set up illegal bookmaking operations. He emphasized that the proliferation of technology has played a significant role in making it easier for these illegal operators to establish themselves.

Porteous highlighted the fact that obtaining licenses for illegal operations can be relatively inexpensive, often requiring only a few thousand dollars. This low barrier to entry allows these operators to offer betting options that are similar to those found in regulated markets, making it more challenging for consumers to distinguish between legal and illegal platforms.

In addition, Porteous pointed out the challenges posed by cryptocurrencies, which can make tracking and regulation of illegal gambling activities much more difficult for regulatory authorities. The anonymity and decentralized nature of cryptocurrencies can make it challenging for authorities to monitor and address illegal gambling activities effectively.

As a precautionary measure, Porteous advised consumers and players to engage in betting activities only on platforms that are properly regulated. By choosing regulated platforms, players can ensure that their interests are protected, and they are participating in a safe and secure betting environment.

Porteous's insights underscore the importance of regulatory oversight and the need for consumers to be vigilant when engaging in online betting activities to avoid falling victim to illegal operators.

 

[Qwert135]

That is correct actually as the players always need to be focused and vigilant playing on the platforms that might not be having a valid license and still might be providing services for the players they should be watchful as players against such platforms indeed actually