Ireland expands gambling oversight with new anti-money laundering rules

Ireland has unveiled a new national risk assessment and 30-point action plan. This is designed to strengthen oversight of the gambling sector and combat increasingly sophisticated financial crime.

The initiative is another major step in the country's ongoing gambling reform programme. The Gambling Regulatory Authority of Ireland (GRAI) is set to take a more prominent role in supervising operators and enforcing anti-money laundering measures.

The assessment identifies several areas of elevated risk. These include remote betting operators, cash-heavy gambling environments and emerging payment technologies such as cryptocurrency.

Remote betting and private clubs face greater scrutiny

One of the most notable findings is the reclassification of remote bookmakers as carrying a significant risk of money laundering. Private members' clubs have also been placed in the same category. This shows there are concerns that parts of the sector have historically operated with limited regulatory oversight.

Under the new framework, private clubs will be brought into the formal licensing system. Irish authorities believe this will help close longstanding regulatory gaps and improve transparency across the gambling landscape.

This is all very much in line with international efforts to ensure all gambling activity falls under the supervision of a dedicated regulator. In particular, when cash transactions and limited reporting requirements can create opportunities for criminal activity.

Cash and cryptocurrency are key concerns

The report mentions cash as one of the sector's most persistent vulnerabilities. This is because of its lack of traceability.

Land-based gambling venues were identified as particularly exposed. This is due to the volume of cash transactions they process. However, regulators also warned that online gambling presents its own challenges. When there are high transaction volumes and rapid movement of funds, suspicious activity is more difficult to detect.

Cryptocurrency is another area of focus. GRAI is expected to introduce industry standards governing the use of digital assets within gambling operations.

Operators will also be required to implement "closed-loop" payment systems. This means customers can only withdraw funds to the same account used for deposits. The measure is intended to make money laundering more difficult by limiting the movement of funds through multiple payment channels.

"Criminals are becoming increasingly sophisticated, exploiting technology, operating across borders and adapting rapidly to change. Government cannot stand still in the face of these threats." – Simon Harris, Ireland's Minister for Finance

A more centralised regulatory model

The action plan calls for greater cooperation between regulators, law enforcement agencies, tax authorities and financial institutions to identify and address emerging threats.

Ultimately, the Irish government aims to consolidate gambling oversight under GRAI. It means replacing the fragmented regulatory structure that existed previously with a single regulator responsible for licensing, compliance and enforcement.

Justice Minister Jim O'Callaghan said authorities would continue monitoring new risks and adapt their approach where necessary to ensure the regulatory framework remains effective.

The latest measures build on Ireland's wider gambling reforms introduced earlier this year. This brought in tougher penalties for non-compliance and significant financial sanctions linked to operator revenues.

What it means for the UK

While the reforms are specific to Ireland, several themes will feel familiar to UK stakeholders. The UK already requires anti-money laundering controls for licensed operators and has increased scrutiny of payment methods, customer verification and financial crime risks in recent years.

Ireland's focus on closed-loop payments and cryptocurrency oversight may attract attention from UK regulators if similar risks continue to emerge. The move also reflects a wider international trend towards more centralised gambling regulation and stronger coordination between financial crime agencies.

For operators active across both markets, the changes highlight the growing expectation that gambling businesses demonstrate robust controls around payments, customer funds and anti-money laundering compliance.