CFG Study Raises Concerns about US Offshore Gambling
Summary
The Campaign for Fairer Gambling (CFG) recently released a report in partnership with Yield Sec, revealing troubling trends in states with legal online gambling. It found that consumer losses rise significantly in areas where unlicensed operators thrive, undermining the regulated system.
Key Points
- CFG’s report highlights increased consumer harm in states legalising online gambling without sufficient enforcement.
- States with both online sports betting and casino games see higher gambling losses, averaging up to 1.12% of income per capita.
- Unlicensed operators take a substantial share of gambling revenue, leading to competitive disadvantages for licensed businesses.
- The CFG calls for urgent regulatory reforms to address the unlicensed sector and improve consumer protections.
- Examples from various states demonstrate that legalising certain online gambling forms without comprehensive regulation can exacerbate financial harm.
Why should I read this?
If you care about the future of gambling regulation in the US or are involved in the industry, this report isn’t just another dry read. It spills the tea on how unlicensed operators are raking in profits while harming consumers, making it vital for anyone invested in fair gambling practices to stay informed and push for change.
