CFG Study Raises Concerns about US Offshore Gambling
Summary
The Campaign for Fairer Gambling (CFG) has released a report revealing alarming trends regarding consumer losses in states legalising online gambling without adequate regulation of unlicensed operators. The study highlights significant consumer harm where enforceability against unlicensed entities is lacking, showing a stark contrast in gambling losses when compared to states with stricter regulations.
Key Points
- Unlicensed gambling operators significantly undermine the potential gains of licensed platforms.
- States without legal online gambling report lower gambling losses (0.31%) compared to those with some legal form.
- 74% of online gross gaming revenue (GGR) in the US is generated by unlicensed operators, indicating a competitive disadvantage for licensed gambling firms.
- CFG’s analysis calls for an overhaul of regulatory strategies to curb unlicensed operations and protect consumers.
- The study concludes that simply legalising gambling does not reduce the presence of unlicensed operations, highlighting the need for strict enforcement mechanisms.
Why should I read this?
This is a must-read for anyone interested in the online gambling landscape in the US! The CFG report sheds light on the growing issues posed by unregulated platforms, which is crucial for understanding the risks and consumer protections in place. If you’re involved in the gambling sector or are a player, knowing these dynamics can save you money and inform your choices.
