AGA Names Coral, BetVictor as Illegal Sites to Avoid Ahead of College Bowl Season

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AGA names illegal sites

The American Gaming Association (AGA) has likely ruined the Christmases of sportsbook operators Coral and BetVictor after naming the pair in a list of illegal sites it has urged US bettors to avoid.

The AGA’s warning comes at a vital time for the offending operators, with the College Football Playoffs about to kick off. The AGA claims that multiple offshore operators have failed to make public their unlawful status, leaving bettors in the dark and sustaining an illegal market.

illegally targeting American consumers for decades”

“Offshore gaming operators have been the subject of federal prosecutions for illegally targeting American consumers for decades,” the AGA stated.

As reported by Gambling Insider, the AGA recently made a statement to media outlets urging them to avoid showcasing brands like Coral and BetVictor, and only include “legal, regulated sports betting operators” in their coverage.

Sites accused of ‘predatory behavior’

The AGA’s name and shame list includes many common offenders, but BetVictor and Entain-owned Coral are the most high profile. Among the other names are 5Dimes, BetAnySports, BetDSI, BetNow, BetOnline.ag, Bookmaker, Bovada, GTbets, Heritage, MyBookie.ag, Skybook, Sportbet, SportsBetting.ag, WagerWeb, Xbet, and YouWager.

In February, 5Dimes announced the launch of its online casino and sports betting platforms in the regulated Isle of Man market. Formerly based in Costa Rica, the sportsbook agreed to a $46.8m settlement with the US government in September 2020, following a federal money-laundering investigation.

The AGA’s take on these illegal offshore operators is damning. “These sites are often vehicles for supporting nefarious activity and organized crime, as well as predatory behavior that may increase the risk of problem gambling for consumers,” the industry body affirmed.

According to GI, the AGA gave the thumbs up to 50 legal sportsbooks. This list included the likes of DraftKings and Entain’s other sportsbook brand BetMGM.

Not all peachy

On the surface, the US sports betting market is booming. November saw New Jersey become the first state to record over $100m in sports betting revenue. The total handle for the state’s retail and online sportsbooks was $1.26bn.

Conversely, however, many sportsbooks have seen their share prices nosedive since January. For instance, DraftKings’ share price slumped 40% for the year-to-date to $26.98, down a jaw-dropping 62% from its March highs.

As a VSO News analysis reveals, however, the US gambling market’s biggest loser in 2021 is Penn National Gaming, which recorded a 45% year-to-date drop in the firm’s share price to $44.65. Since November 1, the company has tanked a nightmarish 40%.

Penn National can lay part of the blame at the feet of the sportsbook it purchased a 36% stake in for $163m, Barstool Sports. Mainly due to allegations of “violent sex” made against Barstool’s CEO Dave Portnoy, company shares plummeted 20% in November, causing Penn National’s market capitalization to lose approximately $2.6bn in value.

The post AGA Names Coral, BetVictor as Illegal Sites to Avoid Ahead of College Bowl Season appeared first on Latest Online Gambling News.



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