UK Health Secretary Raises Alarms Over Illicit Cryptocurrency Betting

As cryptocurrencies gain popularity worldwide, a new form of entertainment has emerged: online crypto gambling casinos. While some people invest in cryptocurrencies, others are eager to use them for online gambling. This trend has raised concerns, especially in light of crypto scams and related crimes. Some countries, including the UK, have restrictions on online crypto gambling, but users can still access such websites.

A recent report by Sky News sheds light on the world of online crypto casinos, revealing some concerning practices within the industry. Notably, the report exposes how famous individuals like streamers and social media influencers are promoting crypto casinos.

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The investigation also suggests that some influencers might be using “fake money” to promote these platforms, potentially misleading their followers. Additionally, some influencers may be inadvertently encouraging people to access illegal online crypto gambling websites, which violates UK laws.

The findings of this investigation come at a crucial time for the UK gambling industry, as the government is considering changes to the Gambling Act. The UK’s gambling regulator, the Gambling Commission, may review and investigate the report’s discoveries.

Health Secretary Steve Barclay expressed his concerns about the rise of online crypto gambling in the UK and its potential impact on gambling addiction. He acknowledged that the Health Department is worried about the increasing addiction rates related to gambling and appreciated the importance of the investigation into illegal online crypto casinos.

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Barclay also highlighted the recent opening of seven new gambling addiction treatment centers, indicating the country’s commitment to addressing gambling-related issues. He mentioned that the upcoming changes in the gambling sector will be reviewed in light of the findings from the investigation, further emphasizing the need for regulatory measures in the online crypto gambling space.

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