Online Casino Games
Unregulated online casino platforms are exploding in popularity across the United States. A recent Washington Post investigation detailed how unregulated iGaming platforms – like Chumba and VGW, Stake, and WOW – evade U.S. gaming laws and safeguards that prevent minors from gaining access and dodge billions in tax revenue that states could use to fund important priorities.
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STATE OF PLAY: iGAMING
Online casino gaming (or iGaming) is already happening across the U.S., but the vast majority of users are betting on unregulated, offshore platforms that provide no verified protections for consumers and dodge billions in potential gaming taxes that would go to the states. Just like with legalized sports betting, states can create a regulated marketplace for iGaming – one that offers regulator-tested products and verified consumer protections – and combat these unregulated, offshore platforms.
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Many sites do not have strong identity verification and are able to advertise on social media with little oversight. Tech-savvy young people in the United States can gamble on them using false identities and readily available software to mask their locations, often unbeknownst to their parents
By last year, was collecting $1.05 billion in taxes from digital casinos, compared with $188 million from sportsbook apps. The revenue from casino games is significant: Pennsylvania’s entire state budget is about $50 billion
With "online casinos becoming unbelievably prevalent" there are a lot of sites out there that don't follow proper customer protection protocols, IRS Chief Guy Ficco said
"States are losing out by keeping this activity — that is already occurring within their borders — in the shadows.
BBB study finds consumers confused, upset amid hundreds of unlicensed and unverified casinos and sportsbooks
While offshore gambling sites often claim to be safe and reputable, the truth is frequently the opposite. Beyond costing the industry billions, they also pose significant risks to players due to their questionable practices and lack of regulation
Speaking at a meeting of the National Council of Legislators from Gaming States, Raoul predicted iCasinos would be among the next wave of expansion in a state that already is one of the nation’s largest gaming markets
The benefits of a regulated marketplace are clear. Regulated iGaming platforms are required to block access for customers below the legal gaming age and use state-of-the-art technology to verify each player’s identity
A well-regulated iGaming market in Illinois will shift players from unsafe, unregulated platforms to trusted, secure sites, ensuring fair play and protecting their financial security. With over $750 million in potential revenue, Illinois can fund vital services, invest in infrastructure and create jobs
The economic impact of BetMGM in Jersey City goes far beyond employees, Exchange Place or tax revenue for the city and state