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New report from CFG: While Tariffs Crash Markets, Illegal Gambling Bleeds Billions

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Illegal online gambling operators now control 74% of the $90.1 billion U.S. online gambling marketplace, according to a new report from data intelligence platform Yield Sec, commissioned by the Campaign for Fairer Gambling (CFG). The report, USA National 2024, reveals that while legal online gambling revenues grew 36% last year, illegal revenues surged by 64% – nearly twice as fast.

The report reveals that 88% of U.S. online audiences are exposed to illegal gambling content, across platforms including search, social media, streaming, and apps. Despite the growth of legalized online sports betting and casino offerings in several states, illegal operators continue to outperform legal brands through price, product range, and aggressive promotions.

The report also reveals that illegal platforms don’t just reach more people – they engage them and retain more of their money. With 88% of U.S. audiences looking for gambling being exposed to illegal gambling content, and affiliates promoting illegal operators outnumbering legal ones by six to one, consumer engagement with illegal online gambling is deep and sustained.

Major events like the Super Bowl, March Madness, Copa America, and the Olympics in 2024 acted as recruitment gateways, driving spikes in traffic and allowing illegal operators to cross-sell profitable casino products and capture more of every consumer dollar. Product choice across illegals enhances their status to consumers as one-stop gambling shops: illegals feature all products in all states, including casino and popular predictor marketplaces which illegals have hijacked to feature events such as election and tariffs betting alongside sports and financials.

Derek Webb, founder of the Campaign for Fairer Gambling, said: “US legalization of internet gambling without a gameplan to tackle the illegal sector has been an unmitigated disaster. In California, where online gambling is illegal, the total population loss per capita for 2024 is $141. In comparison with New Jersey, where online sports and casino gambling are legal, the illegal loss per capita on sports is $103 and on casino is $169, being a total of $272, nearly twice as much as in California.

“Any pundit, commentator, legislator, regulator, lawyer or lobbyist selling legalization alone as a cure for illegal online gambling should be ashamed.”

Ismail Vali, Founder and CEO of Yield Sec, said: “Let’s not pin this on gambling regulators alone. Their job is to supervise the licensed industry, not to chase criminals who never applied for a license. Illegal gambling is everyone’s problem – operators, law enforcement, media companies, social platforms, and governments all have a role to play.

“At Yield Sec, we show every legal stakeholder how to identify, expose, and remove crime from the marketplace – because until that happens, it’s your money that’s being stolen. For America in 2025, it’s time to kick crime out of online gambling.”

Key findings in the Campaign for Fairer Gambling U.S.A National 2024 Report:

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• 917 illegal online gambling operators actively targeting U.S. users, compared to just 95 legal ones

• 668 affiliates promoting illegal online gambling operators, versus 106 promoting legal brands

• 88% of U.S. online audiences are exposed to illegal gambling content

• Illegal operators generated $67.1 billion in revenue in 2024, compared to $23 billion by legal operators

• Illegal gambling revenue grew by 64% year-on-year, nearly double the growth of the legal sector (36%)

Yield Sec warns that 2025 marks a tipping point in the U.S. online gambling marketplace, unless actions are taken now against crime. CFG is calling on legislators, regulators, and all industry leaders to work together to protect consumers, safeguard state revenues, and curb crime.

Industry News

Gaming and Leisure Properties Inc. Names Carlo Santarelli Senior Vice President, Corporate Strategy and Investor Relations

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Gaming and Leisure Properties Inc. announced that Carlo Santarelli has been appointed Senior Vice President, Corporate Strategy and Investor Relations, a new position at the Company. Mr. Santarelli will begin his new position on August 18, 2025 and will report to GLPI President and Chief Operating Officer, Brandon Moore.

Mr. Santarelli brings over 25 years of Wall Street experience in Equity Research and Investment Banking to his new role and joins the Company from Deutsche Bank where he was Managing Director of Gaming & Lodging Equity Research. Prior to Deutsche Bank, Mr. Santarelli held similar positions at Bear Stearns, JP Morgan and Wells Fargo. He consistently ranked highly in Institutional Investor and other sell-side analyst research polls as a thought leader in the space, providing unique perspectives on industry events and trends with his data-driven approach and stock picking talent. Carlo Santarelli graduated from the University of Pennsylvania with a B.A. in Economics in 2000.

Peter Carlino, Chairman and Chief Executive Officer of GLPI, said: “We’ve known and respected Carlo’s research work on the gaming, lodging and gaming REIT sectors for many years. Carlo brings to GLPI an in-depth knowledge of the industry and its participants, having experienced GLPI’s original formation of the gaming triple-net-REIT structure from a research analyst and capital markets perspective. We value his deep network of contacts among institutional investors, sell-side analysts and a wide range of gaming industry operators and we look forward to the value of his contributions.”

In his new role, Mr. Santarelli will work with Mr. Carlino and GLPI’s senior management to develop and evaluate growth opportunities and strategic relationships, and will oversee investor relations interactions.

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VIP Play Announces Departure of Chief Financial Officer

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VIP Play, a technology-driven leader in interactive consumer engagement, announced that Jim Mackey, the Company’s Chief Financial Officer, will step down from his role, effective August 8, 2025.

The Company has initiated a transition process and is in the process of identifying a successor. Mackey will assist in an orderly transition over the coming weeks.

“We thank Jim for his contributions to the Company, particularly during a transformative period for our business. We remain focused on executing our strategic priorities, including financial visibility, operating efficiency, and delivering value to our stakeholders,” said Les Ottolenghi, CEO of VIP Play.

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BETBY LAUNCHES COMPREHENSIVE REPORT ON PERU’S REGULATED GAMBLING MARKET

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BETBY LAUNCHES COMPREHENSIVE REPORT ON PERU’S REGULATED GAMBLING MARKET

 

BETBY, the premium supplier of cutting-edge sportsbook solutions, has published a detailed report titled “The Peruvian Breakthrough: A Market Ready for Takeoff”, offering a thorough analysis of the country’s newly regulated iGaming industry.

Following the implementation of Peru’s online gambling framework in 2024, this report explores the legislative transformation, market growth trends, and consumer behavior shaping one of Latin America’s most promising emerging markets.

The report covers several key aspects, including:

Evolution of Peru’s gambling legislation and its impact on market structure and operator licensing;
Market performance analysis, including land-based vs. online growth and mobile channel adoption;
Economic indicators, such as GDP contribution, per capita GGR, and projected market size through 2030;
Player profiles and betting behavior, with insights into frequency, motivations, and engagement across age and gender groups;
Digital readiness, including mobile usage, internet speeds, and device preferences;
Competitive landscape, with a breakdown of leading operators and changes in market share.

🔗 DOWNLOAD the report to discover strategic insights and unlock growth opportunities in Peru’s regulated gambling ecosystem.

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GamingAmericas.com (part of HIPTHER) is your one-stop portal for the latest news, insights, and analyses in the gaming industry across the Americas. From legislative updates and market trends to interviews with industry leaders, we provide a comprehensive look at the dynamic landscape of both online and land-based gaming. Whether you're a stakeholder looking to stay ahead of the curve or a gaming enthusiast eager for reliable updates, GamingAmericas.com has got you covered. Follow us on social media and subscribe to our newsletter for real-time updates and exclusive content. Make informed decisions and stay ahead in the game with GamingAmericas.com.

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