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Study: iGaming Legislation Is Insufficient to Keep Unlicensed Operators Out
Summary
A recent study by Yield Sec, commissioned by The Campaign for Fairer Gambling, reveals significant deficiencies in the protection against unlicensed online gambling operators in the USA. The report indicates that a staggering 74% of online gambling revenue goes to unlicensed companies, highlighting a competitive illegal market that undermines the legal gaming industry.
The legal online gambling market, although growing—with a 36% increase attributed to Rhode Island’s online gambling launch—cannot effectively combat illegal operators that attract players with lucrative promotions and lack of regulation. The study sheds light on the pressing need for reform to enhance the protection of consumers and ensure a fair gaming ecosystem.
Key Points
- The illegal online gambling sector accounts for 74% of all spending, amounting to approximately $67 billion of the $90.1 billion total.
- Licensed gaming is on the rise, with a 36% revenue increase reported in markets that offer legal online gambling.
- Most consumers (around 90%) have encountered illegal gambling content through various media.
- Unlicensed operators attract players with better promotions and no taxes or licensing fees, despite lacking consumer protections.
- The Campaign for Fairer Gambling advocates for strict reforms to safeguard the legal gaming environment.
Why should I read this?
This article is essential reading for anyone interested in the gaming industry, particularly those concerned about the fair regulation of online gambling. It highlights ongoing challenges in the fight against unlicensed operators, emphasising the need for regulatory reform to protect consumers and ensure a competitive and fair gambling ecosystem.
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