How do outright gambling ads (Meta, IG) reach geo restricted areas?

Hey! New to the industry but been a digital marketer for a while now.
Since we started tracking real time performance of industry ads, we realized that even in clearly geo restricted countries audiences can still receive outright gambling ads in places like IG.
Maybe not just a thread on step by step but a how'd they do it and is it worth it if there are trade offs.
Most of the wisdom on BHW is around cloaking but these ads are selling it straight up, clear as day with intents of betting, bonuses and creatives to match.

It’s usually not a secret trick, just a mix of loopholes, weak moderation, and third-party ad setups.Some advertisers manage to get around restrictions temporarily, but it comes with high risks.Account bans, lost spend, and compliance issues are common trade-offs.For long-term growth, regulated and approved methods are usually the safer path.