CFG Study Raises Concerns about US Offshore Gambling
Summary
A new report from the Campaign for Fairer Gambling (CFG) has raised alarms over the increasing consumer losses in states that have legalised online gambling without properly addressing the unlicensed market. It indicates that unlicensed operators are siphoning off significant consumer spending, offering more attractive deals than their licensed counterparts.
Key Points
- Consumer losses in states with legalised online gambling are markedly higher, especially where enforcement against unlicensed operators is lacking.
- The CFG categorises states by their gambling laws, revealing that both online sports betting and casino games lead to the highest per capita losses.
- In states without any legal online gambling, average losses are just 0.31% of income, while those with both sports and casino laws see this jump to 1.12%.
- A staggering 74% of online gross gaming revenue flows to unlicensed operators, undermining the regulated market.
- The CFG’s report calls for urgent regulatory changes to protect consumers and strengthen enforcement against unlicensed gambling.
Why should I read this?
If you care about the future of gambling regulation in the US, this article is a must-read. It highlights some stark realities about how consumer protection is being compromised in the rush to legalise online gambling. With so much at stake, staying informed means you’re better equipped to understand this critical issue!
Source: CFG Study Raises Concerns about US Offshore Gambling
