CFG Study Raises Concerns about US Offshore Gambling
Summary
The Campaign for Fairer Gambling (CFG) has published a study in collaboration with Yield Sec, spotlighting the challenges posed by offshore gambling. The report shows a significant surge in consumer losses in states that have legalised online gambling without robust regulation against unlicensed markets.
Key Points
- The CFG report highlights the rising consumer harm in states that legalise online gambling with minimal enforcement against unlicensed operators.
- States with both sports betting and casino games legalised report losses up to 1.12% of income per capita.
- A staggering 74% of online gross gaming revenue (GGR) in the US is captured by unlicensed operators.
- The report warns that without regulatory action, the growth of the legal market is encouraging growth in the unregulated sector.
- CFG calls for an urgent overhaul of regulations to tackle the unlicensed gambling industry effectively.
Why should I read this?
If you care about the future of gambling regulation in the US, this article is a must-read! CFG’s findings are a wake-up call that challenges the current regulatory approach and raises serious questions about consumer protection in an evolving gambling landscape. Don’t miss out on understanding these critical insights!