The addiction of online sports gambling: "Like crack in the '80s"
Summary
Since 2018, when sports gambling became legal outside Nevada, the amount of money bet online has grown to $167 billion a year. In states where online sports betting is legal, there has been a 25% increase in bankruptcies and missed credit card payments.Key Facts
- Sports gambling was legalized beyond Nevada in 2018.
- Legal online sports betting now involves about $167 billion wagered annually.
- States with legal online sports betting have seen a 25% rise in bankruptcies.
- These states also have a 25% increase in credit card delinquencies (late or missed payments).
- Gamblers sometimes bet amounts equal to their total yearly income.
- Companies like FanDuel and DraftKings offer online sports betting platforms.
- Lawsuits have been filed against these betting companies about how their platforms are designed.
- The article includes interviews with gamblers and an examination of betting company practices.
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