Offshore gambling's influence is challenged as Xpoint unites with American prosecutors, advocating for restrictions on their expansive jurisdiction

The Dutch Gambling Authority has admitted that its initial estimates of the size of the offshore gambling market were incorrect. This revelation comes as regulators all over the world, including the coalition of 50 US attorneys general, are beginning to realise the true reach and size of the offshore market.

In the Netherlands, the offshore gambling market is estimated to account for approximately 50% of the market in terms of spending. Similarly, Americans are estimated to spend $674bn on non-domestically licensed gambling sites, according to the American Gaming Association. These losses in regulated markets due to the offshore market are significant, with states losing billions worth of tax dollars.

The losses could have otherwise been used for improving public services, deficits, and securing retirements. This is one of the reasons why Xpoint, a compliance and geolocation technology provider, has joined the coalition in calling for more action against offshore gambling.

Xpoint's Chief Compliance and Regulatory Officer, Edward Bedrosian Jr., has stated the significance of this joint statement. He emphasised that consumer protection measures usually fail players at offshore websites, and regulated markets need to adopt measures that can address previously ignored issues in the offshore market.

The coalition, which includes the Department of Justice (DoJ), aims to address the issue of offshore gambling platforms. They have already notified US Attorney General Pam Bondi about the need for more decisive action against the offshore sector.

The coalition and private sector players, such as Xpoint, are advocating for tougher measures against operators and swifter enforcement actions. The Dutch Gambling Authority has acknowledged that more regulated markets are becoming aware of the true reach of the offshore market.

The Dutch Gambling Authority has stated that a plan to raise taxes was a mistake as it goes against its main purpose of player protection. It has also stated that consumer protection measures usually fail players at offshore websites. This acknowledgment allows regulated markets to adopt measures that can address previously ignored issues in the offshore market.

In conclusion, the coalition of US attorneys general and companies like Xpoint are working together to combat the issue of offshore gambling. Their efforts aim to protect consumers, preserve the integrity of regulated gambling markets, and ensure that tax dollars are not being lost to unregulated platforms.

Offshore gambling's influence is challenged as Xpoint unites with American prosecutors, advocating for restrictions on their expansive jurisdiction