"Unregulated operators now account for 78% of worldwide online gambling gross gaming revenue, while licensed operators make up the remaining 22%. The company classifies unregulated gambling as offshore sports betting, casino gaming, poker, crypto wagering, and lottery products that continue targeting customers in jurisdictions where they lack legal approval. Global wagering volume is estimated at $5.9 trillion during 2025, reflecting the scale of activity outside formal licensing frameworks."
"Researchers said many consumers now struggle to tell legal operators from illegal ones because online gambling platforms, gambling-style entertainment products, and loosely regulated services increasingly appear together across streaming platforms, social media, and mobile apps. The report refers to this environment as a “White Noise Marketplace.” Alongside traditional black-market sportsbooks and casinos, researchers pointed to the rise of “unacknowledged” gambling products that mirror gambling behavior without always fitting existing legal definitions."
"The report stated, “Unregulated online gambling is the world’s third-largest ‘economy’ after the USA and China,” while also describing the sector as “the biggest form of cybercrime in the world.” These characterizations frame unregulated wagering as both a major economic force and a significant threat vector, given its hidden nature and cross-border targeting of customers lacking legal approval."
"Alongside traditional black-market sportsbooks and casinos, researchers pointed to the rise of “unacknowledged” gambling products. These include social casinos, prediction markets, sweepstakes sites, skins trading services, and TikTok contests that mirror gambling behavior without always fitting existing legal definitions. The findings build on prior estimates of illegal wagering volumes, including a UK estimate of roughly £4.3 billion staked annually through black-market gambling channels."
Global wagering volume for unregulated online gambling is estimated at $5.9 trillion during 2025. The online gaming market grew from $5.1 trillion in 2023 to $5.7 trillion in 2024, then increased by about 4% in 2025. Unregulated operators account for 78% of worldwide online gambling gross gaming revenue, while licensed operators account for 22%. Unregulated gambling includes offshore sports betting, casino gaming, poker, crypto wagering, and lottery products targeting customers in jurisdictions without legal approval. Many consumers struggle to distinguish legal from illegal offerings due to a “White Noise Marketplace” across streaming, social media, and mobile apps. Unacknowledged products such as social casinos, prediction markets, sweepstakes, skins trading, and TikTok contests can mimic gambling behavior without clear legal classification.
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