Was the decision of the Supreme Court in 2018 to overturn federal prohibitions against sports betting only an act of opening Pandora’s box, unleashing “physical and emotional curses upon mankind”? For most people, betting on sports is a fun, entertaining activity, but we all know it can take a dark turn for some.
New generations of gamblers are coming, enjoying the liberties their predecessors could not. Now, a college student can fire up his smartphone and engage in mobile sports betting while riding the subway or simply out and about. However, do young adults know the risks of frequent gambling, despite it being legal and in the open? Many experts claim the addiction danger is lurking and is not being properly addressed. The experts of Nostrabet had made an in-depth analysis of the gambling picture in the USA and the increasing risks of developing a gambling addiction.
The Boom of the US Sports Gambling Market
For decades, sports betting would be a secondary offering, only adding to the flavour of the gambling platform. At the same time, the focal point of all the action and revenue would be slots and table games like blackjack and roulette. These days of sports betting being an add-on at casinos are over.
Wagering is legal on a state-by-state decision, and dozens of states are onboard or preparing to jump on and catch the bullet train. The industry is soaring, seeing professional leagues and state legislatures embracing sports betting as an important source of revenue.
Sports betting apps have done away with the friction that once stalled the gambling process. Furthermore, betting advertisements overflowing with media representations of major sports events have become a standard part of the fan experience. All of this either wasn’t as prevalent or didn’t exist. For that reason, it is safe to assume the betting landscape will change – the question is will it change for the better or worse.
The only things certain at this point are the huge increase in the volume of bets and in revenue from sports betting. In June 2018, sports gamblers spent $310 million on their bets for that month. Compare that to the $7 billion they wagered in October 2021, and you get a more than a 20-fold increase. Digital betting propels the explosive boom the industry is experiencing currently, and growth opportunities are inflating by the day. The estimation is that the online sports betting market could grow to about $39 billion by 2033, a Goldman Sachs Group Inc. analyst says. Currently, the market is valued at “only” 1 billion.
Initiatives for Fighting the Risk of Problem Gambling
Responsible gambling advocates are demanding answers. They believe the normalization of sports betting as something considered taboo several years ago leads to a combustible climate. Yes, operators offer various tools players can use to prevent problem gambling, such as self-exclusion, cooling-off periods and counselling resources. However, merely that cannot be the remedy of it all. After all, you can’t hold a tide with a broom.
Your typical organisations formed a movement to fight problem gambling risks to increase the forces on the “gamble responsibly” front. Surprisingly, a few unexpected organizations also stepped up and donated. The NFL gave $6 million to the National Council on Problem Gambling (NCPG), and Michigan delegated $3 million from the 2023 budget for the cause.
Why are addiction experts so adamant about legal gambling being dangerous? One point of view highlights the possibility of lessening the stigma around sports betting now that it is legalized. Communities can now lead healthier, open conversations about betting activities without fearing society’s lashes. While this may be one way of looking at it, science paints a different picture. A study in the Addictive Behaviors journal argues that sports betting is more strongly linked to gambling problems than non-sports betting due to the “illusion of control” most addicts manifest. This illusion of control stems from the following – people who bet on sports think they have an edge because they know the sport and follow the teams closely. They often don’t bet to make money necessarily, but to make themselves look smarter for betting correctly.
The rapid advances in betting technology are only propelling this illusion of control, making everything quick and easy. In addition, gambling operators use modern technology to collect data about customers regarding when and how much they bet and who they bet on. Addiction experts believe such companies are responsible for using collected data to help prevent problem gambling.
Arizona Reports an Increasing Trend in Problem Gambling Calls
While the situation is far from alarming, people dedicated to problem gambling in Arizona have reported an increase in problem gambling calls, texts and individuals who sign up for motivational messaging services. The numbers are small considering the number of all gamblers across Arizona, but people tend to call the helpline at their lowest, meaning they have already hit rock bottom and will struggle to get back on their feet.
Luckily, Arizona has an Office of Problem Gambling to try to prevent more such cases. The Office has more than a $2 million budget – funds collected from casinos and the lottery.
The states with legalized sports betting are reaping the benefits of record tax revenues, so it’s only fair for a portion of those funds to serve the purpose of information, education and treatment of gambling addiction. Meanwhile, nonprofit organizations established to help problem gamblers remain unceasingly underfunded.
Final Considerations
The situation is under the watchful eye of the public in the entire United States, as data is being gathered across the nation to bring the risks of the country potentially drowning in gambling addiction into the light. In the meantime, Americans will bet on their favourite sports and celebrate March Madness like they always did in the land of the free and the home of the brave.
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