CFG Study Raises Concerns about US Offshore Gambling
Summary
The Campaign for Fairer Gambling (CFG) has released a report revealing alarming consumer losses in US states that legalise online gambling without properly regulating unlicensed operators. The study highlights that unlicensed gambling often leads to higher gambling losses for consumers.
Key Points
- CFG’s report shows a direct correlation between the lack of regulations and increased consumer losses in states where online gambling is partially or fully legal.
- 74% of the online gaming revenue in the US is generated by unlicensed operators that offer better bonuses and fewer restrictions.
- States with legal online gambling see average losses of about 1.12% of income per capita, significantly higher than the 0.31% in states without legal gambling.
- The report challenges the effectiveness of current regulatory frameworks and calls for urgent reforms to enhance enforcement measures against unlicensed operations.
- CFG argues that licensing gains do not reduce the unlicensed market, leading to further consumer financial harm.
Why should I read this?
This study is a must-read if you’re interested in the rapidly evolving landscape of online gambling in the US. It sheds light on critical regulatory failures and the hidden dangers of unregulated offshore operators that could affect consumers across states. Understanding these findings could be crucial for anyone engaged in or affected by the gambling industry.
Source: CFG Study Raises Concerns about US Offshore Gambling
