CFG Study Raises Concerns about US Offshore Gambling
Summary
The Campaign for Fairer Gambling (CFG) has released a startling report that highlights the alarming rise in consumer losses linked to offshore gambling in the US, especially in states that have legalised online gambling without solid enforcement against unlicensed operators.
Key Points
- The CFG report reveals significant consumer harm in states that legalise online gambling without sufficient regulation.
- States with no legal online gambling see much lower gambling losses (0.31% of income) compared to those that allow online sports betting (0.77%) and both sports betting and casino games (1.12%).
- Unlicensed operators dominate the market, capturing 74% of the online gross gaming revenue.
- CFG criticises state-level regulations as failing to monitor unlicensed gambling effectively, thereby allowing it to flourish.
- The report calls for an urgent review of regulatory measures to protect consumers and the integrity of licensed operators.
Why should I read this?
If you thought the regulations around online gambling were tight enough, think again! This article dives deep into how lax enforcement is leading to greater consumer losses, especially with a significant chunk of revenue flowing to unlicensed operators. It’s crucial reading for anyone interested in the ever-evolving landscape of gambling regulations in the US!
