Slot’s players beware! There are offshore online casinos that operate in the American market, and most are not licensed or regulated in this country. Black market slots, poker, table games, and sports betting are still prevalent, despite the growth of legal online gambling here. How large is the problem? And what are the dangers for players who use these sites?
A new report from the American Gaming Association details how Americans are still wagering over $500 billion a year at illegal, offshore gambling websites. That includes online slots, as well as corner sports betting bookies, illegal gambling dens, and other forms of online gambling. That half a trillion dollars translates to a loss of nearly $4.5 billion in lost tax revenue for the states each year.
Our friends at This Week in Gambling recently interviewed the AGA at the Global Gaming Expo about offshore online casinos and other forms of illegal gambling. Speaking to Chris Cylke, the Senior VP of Government Relations, on this topis, he confirms that $500 billion every year is lost to these sorts of websites, amounting to $340 billion to offshore operators. That makes these unregulated websites over three times bigger than the current, regulated US online gambling market.
You can watch our interview with the AGA about offshore online casinos and other forms of black market gambling by following this link to the website.
