CFG Study Raises Concerns about US Offshore Gambling
Summary
The Campaign for Fairer Gambling (CFG) has released an eye-opening report in collaboration with Yield Sec, shedding light on significant consumer losses in states where online gambling has been legalised. The findings raise serious questions about the efficacy of regulatory frameworks in these states.
Key Points
- Legalised online gambling often correlates with an increase in consumer harm, particularly where enforcement against unlicensed operators is weak.
- The CFG categorises states into three groups based on their legalised online gambling status, observing varying levels of gambling losses.
- On average, US consumers in states allowing both online sports betting and casino games lose significantly more than those without any legalised online gambling.
- A staggering 74% of online gross gaming revenue (GGR) is directed towards unlicensed operators, posing a challenge to regulated providers.
- The report calls for an urgent overhaul of regulatory practices to ensure better consumer protection and fair competition for licensed operators.
Why should I read this?
This article is a must-read if you have any interest in the evolving landscape of online gambling regulations. If you’re keen to understand how this affects consumer safety and industry integrity, you won’t want to miss these critical insights!
