Scams are growing quickly as the online gaming industry expands. With hundreds of fraud reports and thousands of complaints since 2022, the illegal gambling market is far larger than the legal one, resulting in significant financial losses for unwary players.
The number of scammers is increasing along with the gaming sector.
The illegal online gambling market is over four times larger than the legal online gambling market, with estimates from Researchandmarkets.com and the American Gaming Association being $402 billion and $103 billion, respectively, according to research from the Better Business Bureau (BBB).
Since 2022, the BBB claims to have received over 10,000 company complaints on online gaming and gambling, as well as nearly 200 scam reports. While complaints revealed a tendency of ambiguous terminology and customer misunderstandings, other fraud claims involved stealing. Customers lost tens of thousands of dollars in some instances.
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