New analysis by Yield Sec indicates that around 74% of online gambling in the US might be illegal, involving activities like online casinos, sports betting, or crypto. Supported by The Campaign for Fairer Gambling, this analysis highlights the dominance of illegal operations in the US. Founder Ismail Vali states that the problem of illegal gambling and cryptocurrency remains unaddressed by regulators. Despite market regulation, crime persists, with an estimated 70% of gambling still involving illegal channels. Yield Sec’s state-specific analysis reveals substantial black markets, with California and Texas alone contributing $5.5 billion and $4.5 billion, respectively, to the illegal gambling market. Even in regulated states like Ohio, the legal market accounts for just 15% of its $6.2 billion total, amidst nearly 917 detected operators. Cryptocurrency complicates regulation, with Yield Sec identifying numerous crypto casinos exploiting regulatory gaps.
Yield Sec’s methodology, initially used for counter-terrorism, is now adapted to track gambling volumes accurately, including events like the Super Bowl and March Madness. Despite their findings, questions remain about the disparity in data between Yield Sec and other research firms regarding illegal gambling levels.
- SCCG Management. The Gambling Industry’s Global Connector. Access Here.
- Source: SCCGManagement.com