Jesper Eliasson, Director of Åland-based gambling firm Paf, has spoken out about the growing threat of illegal gambling across Europe’s regulated markets.
Eliasson gave the exclusive interview ahead of his scheduled appearance at the SBC Summit in Lisbon, taking place from 29 September to 1 October 2026.
Paf was founded on the Åland Islands, a self-governed part of Finland, and was among the earliest pioneers of iGaming, launching its first online market back in 1998.
The company has since expanded significantly across Europe, operating around 10 brands with licences held in Spain, Sweden, Estonia, and Latvia.
Paf was also one of the first operators to enter the Swiss market when it opened up to regulation back in 2019, demonstrating the firm’s appetite for early-mover advantage.
The company delivered strong financial results in 2025, with Paf Group revenue climbing from €191.7 million to €214.5 million, representing a 12% year-on-year increase.
Customer base growth was a key driver of that performance, with active customers rising from 685,406 to 765,887 across the group’s portfolio of markets.
Group profit also improved during the same period, moving from €54.3 million to €57.2 million, with Spain recording the strongest individual market growth.
Paf also made headlines by becoming the only company in the world to reduce yearly loss limits to €16,000 for adults aged 25 and above, reinforcing its responsible gambling commitments.
Despite the positive financial picture, illegal gambling remains a serious concern for Eliasson and the wider regulated industry heading into the second half of 2026.
According to data from YieldSec, illegal gambling operations account for over 71% of European Union online gambling activity, amounting to approximately €80.6 billion in market volume.
Paf is not alone in raising the alarm, with Entain in the UK and the European Gaming and Betting Association also campaigning strongly against the growth of black market operators.
The issue has become inseparable from ongoing debates around regulation and taxation, with stricter frameworks coming into effect across multiple European jurisdictions throughout the year.
Some EU politicians have gone further, calling for a single, unified gaming tax to be applied across all 27 member states of the political bloc.
Eliasson is said to share the EGBA’s concerns about black market activity and supports a more harmonised approach to gambling regulation across the European Union.
SBC Summit in Lisbon is expected to draw 40,000 attendees from across the global betting and gaming industry for three days of networking, panels, and exhibition activity.
