CFG Study Raises Concerns about US Offshore Gambling
Summary
The Campaign for Fairer Gambling (CFG) has released a report indicating alarming trends in consumer losses in states where online gambling is legal, particularly in areas with minimal regulation against unlicensed operators.
Key Points
- Unlicensed operators are thriving by offering better bonuses and fewer restrictions compared to licensed ones.
- In states with no legal online gambling, the average gambling loss is only 0.31% of income, significantly lower than 1.12% in states with both sports betting and online casinos.
- 74% of online gross gaming revenue (GGR) in the US goes to unlicensed operators.
- The CFG report argues for urgent regulatory changes to monitor and control unlicensed gambling activities.
- States like New York and Florida, allowing only sports betting, are experiencing steep increases in per capita gambling losses.
Why should I read this?
If you’re looking to stay ahead in the gambling landscape, this article is a must-read! It explains the not-so-glamorous side of online gambling regulations and how unlicensed operators are reaping the benefits in states that have jumped on the online gambling bandwagon without foolproof measures to protect consumers. Ignoring this could cost you a lot more than you’d think!
