CFG Study Raises Concerns about US Offshore Gambling
Summary
The Campaign for Fairer Gambling (CFG) has released a report indicating rising concerns over consumer losses related to unlicensed offshore gambling as states legalise online betting without proper regulatory measures. The study highlights a significant correlation between the extent of legal online gambling and the losses experienced by consumers.
Key Points
- Consumer harm increases in states that have legalised online gambling, especially where enforcement of unlicensed operators is weak.
- States allowing both online sports betting and casino games see gambling losses reach 1.12% of income per capita.
- Unlicensed operators thrive due to higher bonuses and fewer restrictions, undermining regulated markets.
- 74% of the online gross gaming revenue in the US is derived from unlicensed operators.
- The CFG calls for urgent regulatory reform to address these systemic failures effectively.
Why should I read this?
If you’re interested in the gambling industry or advocacy for fair practices, this article is crucial. It sheds light on the alarming rise of consumer losses linked to unregulated gambling markets in the U.S. Being informed about these trends can help advocate for necessary reforms and enhance consumer protection measures in a rapidly evolving landscape.
Source: CFG Study Raises Concerns about US Offshore Gambling
