Bulgarian Deputy Prime Minister Atanas Zafirov has said that the country’s Eurozone entry will deal a blow to the gambling black market.

Speaking to various shareholders at the National Information Centre, Zafirov commented that Bulgaria’s pending accession to the Eurozone next year will help shine more light on the illicit cash flows running through the unregulated gambling sector.

The Minister further added that gambling harm has become a significant threat to the population of the former Eastern Bloc country, and therefore should be treated as a national security issue.

Bulgaria joined the EU in 2007 and opened up its borders and markets even more at the start of this year by joining the Schengen zone. 

The increased ease of travel, and especially international trade, as a result of both has made the country more appealing not only to legitimate businesses but to bad actors as well – including those from the illegal gambling sector. 

However, the country has exuded confidence in building up a security perimeter against such parties on more than one occasion. 

Bulgaria’s national gambling regulator, led by Director General Rumen Spetsov, has spearheaded the battle against offshore operators time and again. 

In previous interviews for SBC News, Spetsov has often given examples of how the regulator is fending off the black market by keeping a close watch on the regulated market and subjecting it to strict rules. 

This will more than likely continue to be the case even after Bulgaria joins the Eurozone next year, given the comprehensive regulatory frameworks that countries using the Euro as currency need to abide by. 

Even more, Bulgaria will be able to take a more active role in supporting the EU’s fight against black market operators, providing valuable feedback and sharing good practices with partnering international stakeholders. 

The country has previously criticised the EU’s lack of a unified framework that collectively flags down illegal gambling operators across all nations on the continent. 

Aligning itself closer to Brussels through the Eurozone might unlock more opportunities for Bulgaria to lead such an initiative in the future.

Source