Dec. 11 (UPI) — Experts say losses from online gambling in the United States will exceed $1 trillion in the next few years at the expense of American consumers.
U.S. lawmakers and government regulators “cannot continue to rely on theories of responsible gambling that shift the burden of harm prevention onto individuals,” said the founder and chief executive officer of the California-based Campaign for Fair Gambling. provider Derek Webb said in an article Wednesday. release.
Gambling is legal in some form in more than 80% of around 200 countries around the world. According to A recent report by the Public Health Commission also warns of the dangers to public health of the online gambling industry.
Campaign for Fairer Gambling, an independent gambling reform organization, has expertise in lobbying gambling companies based in both the UK and the US, and says it uses “the best available evidence, data-driven policy-making. “We will promote it.”
It is estimated that approximately 16% of adults and 26% of adolescents who use online gambling platforms have a gambling disorder. The commission’s report added that 9% of adults and 16% of youth who use sports betting products have gambling problems as well.
Currently, the World Health Organization states that in its latest estimates, the legal aspect of the online gambling market is expected to reach $700 billion on an annual basis worldwide as early as 2028.
It added that U.S. consumers and the economy as well are projected to lose at least $1 trillion by 2028 in the 25-year-old online gambling market.
United Nations 2021 There was a report said that up to $1.7 trillion is estimated to be lost in the illegal gambling market each year.
on the other hand, 2022 Pew Research Survey We found that 19% of U.S. adults placed a sports bet in person or online in the last year. WHO emphasized the need for “universal, population-wide public health policies” designed to combat the harms of gambling and its known addictive nature.
The District of Columbia and 38 states have legalized sports betting following a 2018 U.S. Supreme Court ruling that struck down the ban, according to the American Gaming Association.
Among the WHO’s seven recommendations is an end to gambling advertising, promotion and sponsorship of sports and other activities.
But Webb said most states appear to be ignoring the World Health Organization’s strategies to stem the harms of online gambling.
“States that provide tax breaks for gambling or the promotion of gambling in any form should consider whether they are exposing themselves or their regulators to litigation risk,” Webb added.
Operators of online gambling schemes often use a series of offers and other ploys aimed at not only attracting new customers, but also intensifying gambling addiction. DraftKings is currently the subject of a lawsuit alleging that addicted gamblers were “fed” by the company.
Gambling software company YieldSec was commissioned by CFG to conduct research into the dangers of Internet gambling.
Meanwhile, some of the state’s top law enforcement officials have previously issued “cease and desist” letters to illegal operators such as Bovada, which is licensed on the Caribbean island of Curaçao.
Yieldsec, short for “Yield Security,” estimated in 2023 that the U.S. illegal online gambling market would be worth more than $40 billion at that point. But enforcement remains an issue, and officials say, for example, when Bovada leaves the state, “in the absence of strict enforcement by the federal government, other illegal operators step in to fill the void.” “That often happens.”
“Promoting legalization as a way to reduce gambling addiction and eliminate illegal gambling is misleading and unsustainable,” Webb wrote Wednesday.
The National Council on Problem Gambling State tools Helps you find help with gambling. List of important phone numbers See resources for solving gambling problems.
