Throughout the past decade, political theorists have argued that the Overton Window has shifted. For those not familiar, the Overton Window is the conceptual framework for what is acceptable to talk about in the public sphere. Some have suggested the window of discourse has shifted towards the right. 

But has the Overton Window in iGaming shifted too? 

More and more, operators and suppliers are ditching grey market strategies in favour of regulated markets and licensing frameworks. A new range of stakeholders – including Yolo Group – are going through the shift now, but in previous years operators such as Entain and bet365 have dropped many grey markets to focus on regulated spaces. 

It is something that Mike De Graaff, Chief Compliance Officer at BetComply, has noticed. He has noticed it because BetComply is helping both operators and suppliers get ready for regulated markets.

“With the wave of local licensing frameworks emerging over the past few years, the influence of offshore licenses is fading fast,” De Graaff told SBC News. “Regulators are stepping up pressure, not only on unlicensed operators, but also on licensed ones still active in grey markets. 

“The era of using an MGA license to ‘cover the globe’ is effectively over. If you’re still operating offshore today, you’re being pushed to make a choice: either move local and go green, or drift further into the black.”

The first half of the 2020s has been an opportune but turbulent time for the global gaming sector. While plenty of new markets have emerged, others have disappeared – and for many, regulations are becoming stricter. 

And as regulations become stricter, regulators hammer down with more vigour. 

In recent months examples of this shift include Yolo Group exiting grey markets, Play’n GO and Hacksaw exiting US Sweepstakes, and Evolution facing public scrutiny in the UK.

It means that all stakeholders, not just operators but all those involved in the supply chain too, need to consider their long term exposure to grey and unregulated markets. 

De Graaff added: “Local frameworks are demanding, not just technically, but culturally. Regulators expect far more than basic compliance. It’s not as simple as saying, ‘We have a Curaçao license, now let’s get A, B, and C.’ Your track record matters. Every prior activity can surface in a Fit & Proper or Suitability assessment.

“And once you secure those licenses, you need to protect them. If you get fined, fail an audit, or have an application rejected, you may need to report that to other regulators. Compliance becomes central to your reputation  and your continued ability to operate.”

Something that De Graaff was particularly eager to highlight is that suppliers must also be acutely aware of the risks that working in black and grey markets pose to their long term strategies. 

In the US, for example, some regulators and lawmakers are coming down heavily on any third party supplier to operators acting illegally in certain states. It is a huge part of the sweepstakes ban in California, for example. 

BetComply’s compliance lead warned that the market access equation is being completely re-written. 

“The ecosystem is tightening from all angles,” he explained. “Regulators and banks are placing increasing pressure on PSPs, data partners and affiliates to cut ties with unlicensed activity. It’s no longer just operators being scrutinised. Every node in the chain, from payments to games, will eventually have to choose a side.”

An industry rewiring – for the better? 

As this regulatory shift forces operators to choose to be either black or white, in regulated markets or in black markets, there are clear benefits. 

It firstly helps towards building stronger relations between the industry and external stakeholders such as politicians and the media, which have been tense in recent times. 

It can also help build trust and confidence among players. And De Graaff outlined his belief that it is a force for good. Particularly, he said, forcing suppliers into regulated markets takes away a core USP of black market operators. 

“One of the biggest issues for regulated operators is that they’ve had to compete with unlicensed sites offering the same games plus more bonuses and fewer restrictions,” he said.

“If popular titles become exclusive to licensed operators, it levels the playing field and incentivises players to stay within the regulated space. When regulated operators can finally compete on offering and profitability, that creates more room, not less, for innovation.”

BetComply can help operators and suppliers make the shift from black or grey to white. The firm has been in operations for over two years, consulting big name operators and suppliers on their compliance mechanisms. 

With expertise and experience in over 40 licenses, BetComply is ready to help a while host of industry stakeholders get ready for this shift which has already begun, but will intensify over time. 

“We know the nuances, from product requirements and vault integrations to local technical standards and reporting obligations.

“Building a roadmap with us helps clients move faster, avoid costly mistakes, and enter new markets with confidence. Compliance doesn’t need to slow you down, if done right, it’s a growth enabler.”

BetComply has its ComplyCheck tool, which SBC News has done a deep dive into throughout 2025, which allows users to self-assess their ability to be compliant with local regulations and work on a roadmap to plug any gaps. 

The firm noted that ComplyCheck can be particularly helpful for experienced operators who are getting ready to go live in regulated sectors to help save time and any future compliance enforcement action. 

Ultimately, though, a fragmented sector of sorts will always remain. Some will enter regulated markets and others will choose to remain black. 

But, in De Graaff’s view, the wind is blowing in one certain direction. 

“A fully regulated market will never exist. There will always be illegal operators. But the direction of travel is clear: the market will consolidate around licensed, compliant operators.

“That’s good for players, good for regulators, and ultimately good for the industry’s sustainability. The winners will be those who make the transition early, and do it properly.”