CFG Study Raises Concerns about US Offshore Gambling
Summary
The CFG report reveals alarming trends for online gambling in states that legalise it while ignoring the unlicensed market, which poses significant risks to consumers. This analysis calls for a serious rethink of the current regulatory framework.
Key Points
- Consumer losses rise sharply in states that have legalised online gambling without stringent controls.
- The report categorises states based on their gambling regulations, showing that unlicensed operators thrive when unregulated.
- In states with legal online sports betting and casino gambling, gambling losses significantly exceed those in states with no legal gambling.
- 74% of online gross gaming revenue (GGR) goes to unlicensed operators, undermining licensed businesses and consumer safety.
- CFG highlights the urgent need for regulatory overhaul to enforce compliance and protect consumers.
Why should I read this?
If you’re remotely interested in gambling regulation or concerned about consumer safety, this report is a must-read. It highlights big issues lurking beneath the surface of legalised online gambling in the US, detailing how the unlicensed market can hurt consumers and legitimate businesses alike. Don’t be left in the dark—check out what it means for you!
