Ireland’s gambling industry has been largely classified as a low-risk sector for financial crime, according to the government’s latest national risk assessment, although online bookmakers and private members’ clubs remain areas of heightened concern.
The assessment comes as the newly established Gambling Regulatory Authority of Ireland (GRAI) continues to expand its oversight of the market. The report, presented on 18 June by Deputy Prime Minister Simon Harris alongside the Ministries of Finance and Justice, reviewed risks related to money laundering, terrorist financing and proliferation financing across multiple sectors of the Irish economy.
Compared with the previous 2018/19 review, the gambling sector showed a notable improvement. Earlier assessments generally classified gambling activities as medium risk, while some segments were not fully evaluated. The latest findings place most gambling categories in the low-risk bracket.
Irish authorities divide gambling providers into several groups, including retail bookmakers, on-course bookmakers, remote bookmakers, private members’ clubs, lotteries and bingo operators, and the Tote for horse and greyhound racing. All categories received low ratings for proliferation financing risks, though money laundering and terrorist financing scores varied.
Retail and on-course bookmakers were assessed as carrying a moderate money laundering risk, largely due to their reliance on cash transactions and the ability of customers to move between different betting locations. Limited monitoring capabilities were also highlighted as a challenge.
The strongest concerns were directed at remote bookmakers, which received a “significant” money laundering risk rating. The government cited the remote nature of online gambling, the use of prepaid payment methods, and differing regulatory standards across European jurisdictions as key vulnerabilities. White-label arrangements were also identified as a potential weakness because they may allow operators with less transparent backgrounds to enter regulated markets.
Private members’ clubs received the same significant money laundering risk classification. Officials noted that these venues, which often host casino-style games for registered members, rely heavily on cash and could be vulnerable to criminal influence or ownership, making suspicious activity harder to detect.
Meanwhile, lotteries, bingo operators and the Tote recorded the lowest levels of financial crime risk among Ireland’s gambling sectors, reinforcing the overall conclusion that the industry presents limited exposure to financial crime when compared with previous assessments.