CFG Study Raises Concerns about US Offshore Gambling
Summary
The Campaign for Fairer Gambling (CFG) has released a report revealing alarming trends in consumer losses associated with offshore online gambling in states that have legalised online gambling without proper oversight. This study, aided by Yield Sec, underscores the risks posed by unlicensed operators in the ever-evolving gambling landscape.
Key Points
- Consumer harm skyrockets in states where online gambling has been legalised but lacks robust regulation.
- States permitting only online sports betting show a significant increase in gambling losses compared to those without any form of legal gambling.
- 74% of online gross gaming revenue (GGR) in the US is funneled to unlicensed operators.
- The CFG criticises current state-level regulatory strategies, deeming many a systemic failure.
- There is an urgent call for a regulatory overhaul to protect consumers and ensure fair play in the gambling market.
Why should I read this?
If you’re into gambling or just interested in the ongoing evolution of online betting in the US, this article is a must-read! It shines a light on the pitfalls of the current system and highlights the critical need for changes to safeguard consumers. We’ve done the legwork for you, so dive into these juicy insights without getting stuck in the details!
