The Rise of Online Sports Betting Raises Addiction and Financial Concerns

Legalized sports betting has surged in the U.S., creating a multibillion-dollar industry while exacerbating gambling addiction and financial distress.

• Studies show that the vast majority of online sports bettors lose money, with fewer than 5% of users profiting and many spending significant portions of their income on bets.
• Low-income individuals are disproportionately affected, with some spending over 10% of their income on gambling, leading to increased financial instability and reduced investments.
• Online sportsbooks employ tactics to retain losing bettors while restricting successful ones, further tilting the odds against users and fueling addiction.
• The proliferation of sports betting has led to gambling scandals involving athletes, raising concerns about the integrity of professional and collegiate sports.
• State governments and sports leagues benefit financially from legalized betting, but critics argue the social and economic costs, including rising bankruptcies and addiction, outweigh the gains.

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Washington Examiner Newsweek The New Republic