BBB warns of risks in online gambling, gaming

ST. LOUIS, Mo., (KBSI) – A new study by the Better Business Bureau finds that inconsistent laws and regulations have created a thriving environment for grey market and illegal gambling operations online.

The study, which analyzed nearly 200 scam reports and over 10,000 business complaints related to online gambling and gaming, found that consumers are often confused and misled by unclear terms and conditions.

Key findings include:

– Widespread illegal operations: Online grey market and illegal gambling operations are common, with few legal protections for consumers.
– Consumer confusion: Consumers report confusion and misleading terms, leading to unfair losses.
– Lack of regulation: Inconsistent laws and regulations across North America make it difficult for consumers to find legitimate options.

To avoid issues with online gambling and gaming companies, the BBB recommends:

– Reading state and provincial laws: Understand local laws before engaging with any gambling establishment or casino.
– Checking for proper licensure: Verify that a website is licensed and regulated by the relevant authorities.
– Reading the fine print: Understand the terms and conditions of a website before sending any money.
– Being cautious of red flags: Be wary of big promises, tempting ads, overseas business locations, and payment through cryptocurrency.