CFG Study Raises Concerns about US Offshore Gambling
Summary
The Campaign for Fairer Gambling (CFG) has released a report in collaboration with Yield Sec that raises alarm about rising consumer losses in states that permit online gambling without proper regulation. The study examines the detrimental impact of unlicensed operators in states where online gambling is legal.
Key Points
- The CFG report indicates a significant rise in consumer harm in states that legalise online gambling without robust enforcement against unlicensed operators.
- States without online gambling report an average of 0.31% of income lost, while those allowing online sports betting see losses of around 0.77%, and states with both sports betting and casino games report a staggering 1.12%.
- Approximately 74% of the online Gross Gaming Revenue (GGR) in the US is generated by unlicensed gambling operators, who offer better bonuses and fewer restrictions compared to licensed providers.
- CFG urges for urgent reforms to regulate both licensed and unlicensed gambling effectively, highlighting that legalising gambling does not mitigate the risks posed by unregulated options.
Why should I read this?
If you’re interested in the dynamics of the gambling industry, this article is a must-read! It dives into the startling realities of how unlicensed operators are thriving amidst the legal frameworks set up for gambling. With consumer losses on the rise, understanding these insights could help you navigate or discuss the regulatory landscape surrounding online gambling better.
