CFG Study Raises Concerns about US Offshore Gambling
Summary
The Campaign for Fairer Gambling (CFG) has released a report in partnership with Yield Sec, revealing alarming trends in consumer losses in states that have legalised online gambling without addressing unlicensed markets effectively. It highlights regulatory weaknesses that allow unlicensed operators to flourish, harming consumers while undermining legal platforms.
Key Points
- Consumer harm increases significantly where online gambling is legalised without proper enforcement against unlicensed operators.
- 74% of online gross gaming revenue in the US is generated by unlicensed platforms, posing a threat to the regulated market.
- States with legal online gambling report gambling losses at rates significantly higher than those without any online options.
- CFG calls for an overhaul of regulatory strategies to include stringent enforcement against unlicensed gambling.
- Zero-sum theories in gambling losses do not apply; the unlicensed market grows alongside legal options, harming consumers financially.
Why should I read this?
If you’re interested in the future of online gambling regulation in the US, this article is a must-read. It digs into serious issues that could impact consumer safety and the integrity of gambling laws, making it essential for anyone wanting to understand the landscape of online gambling today.
