Gambling in Ireland found to be low-risk for financial crime – with two major exceptions
Two segments of the Irish gambling industry have been deemed to have “significant” money-laundering risk.
Ireland.- The gambling sector has been formally classes as a low‑risk for financial crime in Ireland, although online bookmakers and private members’ clubs have been flagged as exceptions. The updated assessment comes amid a major regulatory overhaul under the newly established Gambling Regulatory Authority of Ireland (GRAI).
The latest national risk assessment, unveiled by Deputy Prime Minister Simon Harris alongside the ministers for finance and justice, marks a significant shift from the last review, which was conducted in 2018/19. At that time, gambling was generally rated as medium risk for criminal financing, although several categories had not been fully evaluated.
As with previous editions, the assessment examined exposure to money laundering (ML), terrorist financing (TF) and proliferation financing (PF) across multiple industries. The gambling sector was divided into sub-sectors: retail bookmakers, on‑course bookmakers (for horseracing betting), remote bookmakers, private members’ clubs (PMCs), lotteries and bingo, and the Tote covering both horse and greyhound racing. All were deemed low risk for PF, although ML and TF ratings varied.
Retail bookmakers were deemed low risk for TF but carried a moderate ML risk, largely due to their heavy reliance on cash, the ease with which customers can move between premises, and the number of operators in the market. On‑course bookmakers received the same rating, with cash transactions again highlighted as a potential weakness, in this case compounded by limited monitoring capabilities at racecourses.
Lotteries and bingo operators were judged to pose moderate‑to‑low risk, while the Tote was assessed as the lowest‑risk gambling activity in the country.
Irish gambling segments with “significant” money laundering risk
However, remote bookmakers, were assigned a “significant” money‑laundering risk, one of the highest classifications in the report. Officials cited the anonymity of online services, the use of prepaid cards to fund accounts, and inconsistent regulatory standards across the EU as major concerns requiring urgent attention.
The assessment also flagged white‑label arrangements as a potential gateway for operators that fall short of European compliance norms, saying that links to criminal groups cannot be entirely discounted.
The other category that received a “significant” money-laundering risk rating was PMCs. Such clubs, which restrict entry to registered members and offer casino‑style games such as poker and slots, were deemed vulnerable due to their frequent use of cash and the possibility of criminal infiltration or ownership. The report warned that such dynamics can make oversight and reporting more difficult.
Commenting on the findings, Jim O’Callaghan, Minister for Justice, Home Affairs and Migration, said: “The Government will continue to monitor emerging risks and update its response as necessary to ensure Ireland remains resilient in the face of a rapidly evolving threat environment.”
