Dear Readers: For the day we turn over the S&G bully pulpit to Frank Sutton, who airs increasingly frequent concerns that more sports betting equals more disordered gambling. Take it away, Frank.
There are 10.9 billion reasons to consider sports betting a success since the Supreme Court struck down a federal ban against it in 2018. That’s how many dollars in revenue the American Gaming Association said the sports book industry accrued this past year, per Front Office Sports. It was a number that, along with the $119.8 billion countrywide handle from 2023, blew past projections and marked a record high for a single year. Compared to 2022, sportsbook revenue grew a whopping 44.5%, and more than $40 billion alone was bet during 2023’s final financial quarter, 34.4% higher than it was during the same period the prior year.
“The full-year increase owes to several factors, such as five new jurisdictions becoming operational in 2023, including top performers Ohio and Massachusetts, as well as the high-profile arrival of ESPN Bet,” Front Office Sports wrote.
One of those new jurisdictions embracing sports betting is North Carolina. The state legalized sports betting in 2019 and launched its first sportsbooks in March 2021. Since then, North Carolinians have fully embraced legal wagering. Popular sportsbooks like DraftKings, FanDuel and BetMGM – which offers a BetMGM North Carolina bonus code – operate in the state. In 2022, North Carolinians wagered over $3.7 billion on sports, generating nearly $40 million in tax revenue for the state. With major professional and college teams across basketball, football and more, North Carolina provides ample betting opportunities for sports enthusiasts.
The publication also noted that continued growth at this rate is unlikely because “top-population states California, Texas, and Florida continue to show resistance to varying degrees toward legalization.” Plus, 38 states as well as Washington D.C. already allow sports gambling, so fewer states are remaining that could add to these already extraordinary tallies.
This is good for the businesses that provide sports betting services and for the states that tax those organizations. It’s also a welcome development for people who believe in small government and have attached sports betting to personal rights, including politicians on both sides of the aisle. But has this all been enough to “protect” citizens?
One day before Super Bowl 58, the National Council on Problem Gambling (NCPG), which claims neutrality on the subject of legalized betting, released a statement with sobering data about gambling addiction trends. “Between 2018 and 2021, NCPG estimates that the risk of gambling addiction grew by 30%,” the statement said. “NCPG has also seen significant increases in calls, texts and chats to the National Problem Gambling Helpline—roughly a 45% increase in calls between 2021 and 2022.” (The help line is 1-800-662-4357.)
The organization called for a “comprehensive publicly funded problem gambling program addressing prevention, treatment and research services nationwide,” and observed that new forms of gambling are being legalized across the country.
“[N]ow is the time for the federal government to play a role in mitigating the negative consequences that come from gambling,” the NCPG said. “NCPG stands ready and willing to assist members of Congress or the Executive branch in determining and implementing policies that will reduce the rate of problem gambling.”
This publication you’re reading offers tips to sports bettors regularly. As industry activity rises alongside addiction rates, we advocate for safe, responsible betting. Take care of yourself with these resources:
Set a budget and stick to it.
Keep betting fun, not a means of financial gain.
Only bet what you can afford to lose.
Take breaks when on a losing streak.
Stay in control and bet responsibly. Support is available for those struggling with gambling addiction.