CFG do their part for federal control

CFG founder and fundraiser Derek Webb used YieldSec’s figures to defend federal oversight.

“The legal gambling sector has sold the mirage of the regulatory market to lawmakers across the United States replacing the black market,” Webb said. “The legal gambling sector, which should be disappointed, has been allergic to all federal involvement so far.”

Webb seems to argue that legitimate brands have failed to replace the black market. However, many states still do not have legitimate gambling markets.

“We hope that the legal gambling sector in the United States and its trade groups will reconsider and join us in calling for a federal crackdown on illegal gambling.”

Beyond illegal gambling, which harms their markets, the legal gambling industry has actively campaigned for decisive action to eradicate offshore threats. Among them is Bill Miller, CEO of the American Game Association (AGA). Commenting on the AGA’s Q3 2023 results, Miller said a “record number” of Americans are moving toward legal and regulated sports books.

“This continued demand only intensifies the need for federal and state enforcement against illegal offshore operators,” Miller added.

According to an AGA report released in 2022, the U.S. illegal gambling market is estimated to be worth $44.2 billion annually.

industry response 토토사이트

The bigger question, and one that must be asked, is whether federal regulation will play a role in addressing this problem.

As already identified and widely highlighted in Germany, excessive federal regulation will only cause more traffic to unregulated operators.

Many people in the industry have similar views.

“There’s a federal government outside the guardrails already installed under the constitution and now across the pond there’s someone telling us how to run our government once again,” Brendan Boothman, managing partner at B Global Advisors, said in response.

“This is not the Beatles. It’s time to reject another uninformed invasion of Britain.”

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