CFG Study Raises Concerns about US Offshore Gambling
Summary
The Campaign for Fairer Gambling (CFG) has released a new report, revealing alarming trends in consumer harm in states that legalise online gambling without sufficient regulation of the unlicensed market. This comprehensive analysis indicates a significant rise in gambling-related losses in states where online gambling is more accessible, with unlicensed operators exacerbating the issue.
Key Points
- Consumer harm escalates in states with legal online gambling due to enforcement gaps against unlicensed operators.
- States with only online sports betting see average gambling losses of 0.77% of income per capita, rising to 1.12% in states allowing both online sports betting and casino games.
- A staggering 74% of online GGR in the US flows to unlicensed operators, offering better bonuses and fewer regulations.
- The CFG deems current state-level regulatory strategies a systemic failure, calling for urgent measures to regulate the unlicensed gambling landscape.
- The increase of licensed gambling options does not diminish the unlicensed market; rather, both coexist, leading to higher consumer losses.
Why should I read this?
This article isn’t just about statistics; it shines a light on the stark realities of the gambling landscape in the US. With alarming insights into how much consumers are losing, this report from the CFG underscores the urgent need for reform. If you’re invested in the industry or just a concerned observer, this read will equip you with crucial knowledge on the implications of unregulated gambling.
Source: CFG Study Raises Concerns about US Offshore Gambling
