CFG Study Raises Concerns about US Offshore Gambling
Summary
A recent report from the Campaign for Fairer Gambling (CFG), compiled with insights from Yield Sec, reveals alarming trends in consumer losses linked to unregulated offshore gambling markets in the US. The study underscores that states legalising online betting without strict regulations can lead to greater financial harm for players.
Key Points
- Licensed and unlicensed online gambling leads to an average gross gaming revenue (GGR) of 0.62% of income per capita.
- States without legal online gambling report significantly lower losses (0.31% of income).
- 74% of online GGR in the US is from unlicensed operators, who can outdo licensed ones due to fewer regulations.
- The CFG reports that the current regulatory strategies are failing, leading to systemic issues in controlling unlicensed gambling.
- States allowing both sports betting and online casino games experience the highest rate of consumer losses.
Why should I read this?
If you’re even slightly interested in the world of gambling, this article is a must-read. The CFG’s findings highlight critical gaps in how states manage online gambling, exposing the impact of unregulated markets on your wallet. This isn’t just academic mumbo-jumbo – it could affect how and where you gamble!
