CFG Study Raises Concerns about US Offshore Gambling
Summary
The Campaign for Fairer Gambling (CFG) has released a report in collaboration with Yield Sec, revealing troubling increases in consumer losses in states where online gambling has been legalised without sufficient enforcement against unlicensed operators.
Key Points
- Consumers face significant harm in states with legal online gambling, particularly where enforcement against unlicensed operators is lacking.
- The CFG report categorises US states based on their legalisation status for online gambling, revealing varied gaming revenue and consumer losses.
- In states with only online sports betting, GGR per capita hits 0.77%, and where both sports betting and online casino games are legal, it averages 1.12% of income.
- A staggering 74% of online GGR in the US is attributed to unlicensed operators, who exploit regulatory gaps to offer better incentives.
- The CFG warns that without robust regulations, the growth of legalised gambling may worsen consumer financial harm rather than alleviate it.
Why should I read this?
This article is a must-read if you’re interested in the impact of gambling regulation in the US. It underscores the critical need for improved oversight in the gambling industry—essential information if you care about consumer safety or the integrity of gambling laws going forward!
