QUOTABLES QUOTABLES “The elephant in the room for consumer protection is that consumers are to such a large extent absent from the legally licensed part of the gambling market. Instead, they have chosen the unregulated unlicensed market to an alarming extent, partly because of the very generous bonus systems offered there.” —Swedish Trade Association for Online Gambling Secretary General Gustaf Hoffstedt, refuting the argument that eliminating all bonus offers would strengthen consumer protection and specifically curb gambling among young adults. “I think this is the biggest threat I’ve ever known since I’ve been in the industry. On a 1 to 10, it’s a 10. All the alarm bells are ringing there. I believe by 2028 we will not have one single shop.” —Betfred Co-Founder and Chair Fred Done, in reference to the announcement that the U.K. Remote Gaming Duty is set to nearly double, increasing from 21% to 40%, beginning in April, while adding a 25% rate for online betting. “Declaring a platform illegal after years of validation, taxation and judicial recognition isn’t just wrong. It is deeply unethical. This ban was pushed through virtually without debate, without transition, nuance, or consideration of economic realities.” —India-based gaming lawyer Jay Sayta, commenting on the country’s sudden ban on certain gaming platforms. “If you look at all four of those products, they’re all identical . . . They all rip off the consumer, respectfully. You can only trade against the house. They can ban you if you make money and they can profile you as a user and change the prices based on you. That’s a scam. In traditional finance, that’s like a bucket shop. It’s a scam. Those are illegal.” —Polymarket CEO Shayne Coplan, speaking about traditional sportsbooks FanDuel, DraftKings, Fanatics, and BetMGM at the Axios BFD Summit in New York City in November. GPWAtimes.org 10
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