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Post on: 12 April 2024, 01h19.
Last Updated: April 12, 2020, 01:19h
A study of the NCAA March Madness 2024 tournaments for men and women concluded that illegal offshore books still beat out regulated ones in terms action.
It is important to note that the word “you” means a person. Campaign for Fairer Gambling The (CFG), commissioned YieldSec to conduct a survey of bettors on college basketball tournaments in order to determine the market share gained by the legal sector between 2024 and 2025.
This investigation found that online betting apps and platforms without a license facilitated bets worth $4.3 billion. This was more than 60% of the total handle for both men and women. Playing postseason sports. Before the March Madness 2024 tournaments, the American Gaming Association, the industry association for legalized gaming in the U.S. predicted that sportsbooks will take over. Bets worth $2.7 billion.
Derek Webb is the founder and CEO of CFG. The gaming veteran believes that the expansion of sports betting online poses increased risks for gambling-related harms. CFG is promoting bipartisan gaming reforms in order to improve consumer protection and advocates for federal oversight over online sports betting.
There is a need for more protection
Researchers YieldSec discovered that during March Madness this year, at least 378 websites actively targeted U.S. sportsbook players. Over 650 websites promoted sports betting sites that were illegal.
Also, social media sites were flooded by advertisements for offshore bookies. CFG found that nearly 80% March Madness content on X and Facebook was illegal.
Webb believes the government needs to do more in order to keep such players from reaching customers, as many unknowingly use platforms that offer little to no protection to their users.
Webb stated that the lack of an united approach by government and lax state oversight has only exacerbated this problem. This allows entities with questionable backgrounds to operate without restriction. The U.S. needs to lead the way in finding a solution that is unified to combat this problem.
The U.S. Department of Justice released a report last summer that reveals the following: AGA It is important to combat illegal offshore gambling.
Megan Bennett is an intergovernmental DOJ liaison. She said, “The Department continues to investigate and prosecute unlawful internet gambling.”
YieldSec’s findings suggest the opposite, with hundreds of sportsbooks online offering no guarantee that winning bets will be paid to March Madness wagerers this year.
Rogue Books
Offshore sportsbooks are not concerned with responsible gambling. They do not offer players any tax benefits, nor guarantee that bets and deposits will be returned. This has been illustrated by the recent scandal involving Los Angeles Dodgers’ superstar Shohei Ahtani’s ex-interpreter.
The Federal authorities said this week that Ippei Mishura allegedly stole over $16 million dollars from Ohtani in order to gamble with an illegal bookie on sports. Mizuhara, who allegedly bet an average of $12,000 between December 2020 and January 2024, is said to have placed 19,000 sports wagers.
Mizuhara, says the Justice Department, lost almost $41 million on his bet. Federal law enforcement says that it found no proof of Ohtani’s involvement in illegal gambling.
Mizuhara wired more than $16 million in unauthorized transfers from a checking account belong to an MLB player identified in the affidavit as ‘Victim A,’ who in fact is MLB star Shohei Ohtani. Mizuhara allegedly used devices and IPs associated with Mizuhara to make the transfers. Mizuhara was Ohtani’s interpreter and de-facto manager.
Estrada continued, “I’d like to make it clear that Mr. Ohtani has been deemed a victim of this crime.”
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