Entain Chief Executive calls for Australian banks to fight offshore gambling
Entain Australia and New Zealand Chief Executive Andrew Vouris has called for greater oversight from banks as part of efforts to prevent illegal offshore gambling operators targeting Australian consumers.
Sharing his thoughts at the Regulating the Game conference in Sydney on Monday, Vouris argued that financial institutions should take on a larger role in identifying and blocking payments linked to unlicensed betting platforms.
“The banks must know that some of these transactions that are occurring in cash from their customers are going to illegal offshore gaming and wagering operators, and they need to be held to the same standard that the regulated gambling operators are here in Australia,” he said.
Vouris added that the country’s gambling regulator, the Australian Communications and Media Authority, was doing a “fantastic job,” but stressed that more assistance is needed for the cause.
The comments come as concerns grow over the number of offshore gambling websites offering their services to Australian players.
Many of these platforms are based in jurisdictions such as Curaçao or Anjouan and operate outside Australia’s regulatory framework while still accepting payments from local customers.
Australia has strict rules governing domestic wagering companies, requiring them to monitor customer behavior, spending patterns, and compliance obligations in real time.
Vouris believes that tackling the issue will require more collaboration between regulators, financial institutions, technology platforms, and the gambling industry.
Last week, Australian lawmakers also pushed for gambling harm to be recognized as a public health issue with the introduction of a new bill.
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The Backstory
Why the banks matter now
Entain’s call for Australian banks to help stem the flow of payments to unlicensed betting sites lands amid a tightening regulatory climate and a reshaped competitive field. The pitch reflects a shift in tactics: licensed operators are asking financial institutions to take a frontline role in blocking transactions to offshore platforms that accept Australian customers but sit outside local rules. The argument is simple. Australia’s regulated bookmakers face strict monitoring and responsible gambling obligations, while unlicensed rivals operate at lower cost and with fewer constraints. Steering payments away from those operators would narrow the funnel and reinforce the regulated market’s guardrails.
The push also aligns with Entain’s broader effort to reset its Australian and New Zealand business culture around compliance and sustainability after a volatile stretch. Earlier this year, the company made permanent an interim leadership appointment, elevating Andrew Vouris to run the regional unit overseeing Ladbrokes and Neds. The move, which followed months of hands-on oversight, was framed as a commitment to a “compliance-led” approach and a back-to-basics operating focus, as detailed in Entain Australia appoints Andrew Vouris as Chief Executive.
That backdrop explains the urgency of recruiting banks to the front line. Payments controls can be faster to implement than legislative changes and can close one of the most direct pathways offshore sportsbooks use to reach Australian punters.
Offshore pressure is rising
The competitive squeeze is real. Illegal offshore operators now account for an estimated 15% of Australia’s online sports betting market, a share that is growing, according to commentary at the same Sydney conference from Sportsbet Chief Executive Barni Evans. He tied the offshore rise to escalating domestic costs, including higher point-of-consumption taxes and product fees, that have cut into licensed operators’ margins and curtailed marketing. His remarks and cost breakdown are captured in Illegal offshore operators comprise 15% of Australian market, Sportsbet Chief Executive says.
Evans also warned that licensed brands have pulled back on advertising as fees and taxes climb, creating openings for unlicensed firms to boost visibility, including during marquee events. That dynamic underscores the asymmetry regulators and legal operators face: the more expensive it is to comply, the more attractive the gray market becomes to price-sensitive consumers.
The concern is not limited to industry executives. Earlier in the week, a former head of Australia’s crime intelligence agency cautioned that overregulation and excessive taxation can drive bettors toward unlicensed channels and undermine consumer protections. Inside Asian Gaming reported those remarks in a warning against overregulation and excessive taxation. The message dovetails with the banks-as-gatekeepers push: policy levers and payments controls must work in tandem to shrink the illicit market without pushing consumers out of regulated lanes.
Entain’s own house in order
Entain’s advocacy comes as it confronts its compliance past. In December, Australia’s financial crimes watchdog, AUSTRAC, launched civil proceedings alleging systemic anti-money laundering and counterterrorism financing failures at the company’s Australian operations. The case added pressure to Entain’s governance agenda and sparked leadership changes. Entain Australia executive resigns amid money laundering scandal details the exit of the local chief financial officer and notes additional departures in New Zealand and at group level.
The company has maintained that it is reinforcing its programs and risk controls. Elevating Vouris, who previously held senior roles at Tabcorp and helped oversee an esports betting business acquired by Entain in 2021, was positioned as part of that reset. The appointment, covered in Entain Australia appoints Andrew Vouris as Chief Executive, signaled continuity in strategy and an emphasis on compliance embedded into day-to-day operations. Calling on banks to block or scrutinize payments to unlicensed operators complements that program by narrowing the avenues for capital flight to high-risk jurisdictions.
The stakes are not only regulatory. If licensed bookmakers keep trimming promotions, lifting overrounds and cutting ad spend to absorb costs, as rivals have indicated, they risk losing price-sensitive customers to offshore sites. That threatens tax revenues, funding to racing and sports bodies and the broader public health goals underpinning Australia’s gambling framework. Cutting off illicit payment routes is one of the few measures that can directly protect the regulated market’s economics while preserving consumer safeguards.
Leadership churn around the edges
The policy conversation is unfolding as Entain navigates turnover in its global C-suite. Group Chief Executive Gavin Isaacs departed after five months, with Chair Stella David stepping in on an interim basis for a second time. The board reaffirmed its focus on operational execution and shareholder value, and flagged that 2024 earnings were tracking at the top end of guidance, as described in Entain Chief Executive steps down. The leadership shift did not alter Entain’s U.S. joint venture trajectory, where BetMGM reported record igaming revenue and forecast another year of growth.
The contrast between upbeat group figures and compliance headwinds in Australia illustrates why the company is leaning into payments oversight as a pragmatic response. It is faster than legislative fixes, it targets a primary risk vector and it aligns with an executive team tasked with stabilizing the business after AUSTRAC’s action and regional leadership exits. The Australian unit’s performance will be closely watched as policymakers weigh tax settings, industry obligations and emerging enforcement tools.
A broader push for safer gambling
The region’s regulators are also trying to harmonize consumer protection with market sustainability. In the Philippines, the gaming regulator’s chief urged greater collaboration across operators, policymakers, health providers and researchers to strengthen prevention, treatment and recovery pathways for problem gambling. He pointed to exclusions, tighter ad rules and partnerships with rehabilitation groups as core planks, according to PAGCOR chairman calls for collaboration to fight gambling addiction.
That cooperative model mirrors the coalition approach now surfacing in Australia. The communications regulator has stepped up site blocking. Lawmakers are debating harm minimization as a public health matter. Industry leaders want payment providers and tech platforms at the table. Banks may be the next critical node. If they can help sever the flow of funds to offshore sites while licensed books maintain rigorous checks, governments could preserve consumer protections without handing more ground to the gray market.
The coming months will test whether this multi-actor strategy can blunt offshore growth. Clearer tax signals, calibrated regulation and active payments surveillance could slow the leakage. For Entain and its peers, success means stabilizing margins, keeping customers in safer channels and proving to regulators that a compliant market can remain competitive against operators who play by different rules.
