Concerns are growing nationwide about a new wave of gambling addiction from sports betting and online “prediction markets.”
Most states have legalized sports betting. Survey data shows more than half of men ages 18 – 49 have an active sportsbook account online.
Arkansans wagered a record $86.5 million in March alone this year, and “prediction markets” that operate outside the scope of state regulation have exploded in recent years.
But people are deeply concerned about the toll this type of gambling is taking on gamblers and their families.
In Ohio, Crain’s Cleveland Business writes that sports gambling is costing more than just money, saying:
“More than three years after Ohio launched legal sports betting, the returns are easy to measure. So are the costs. Billions of dollars have flowed through mobile apps, fueling tax revenue and industry growth. At the same time, calls to problem gambling hotlines have climbed, betting-related debt has increased and some lawmakers are now trying to put new limits on an industry that has already taken hold.”
Over at NBC Sports, Mike Florio recently wrote that sports leagues need to take responsibility for the “new wave of gambling addictions” foisted on fans.
“Those addictions are a direct result of the fact that it’s now as easy to make a bet as it is to send a text. The broader moral and ethical issues have taken a back seat to the rush for cash. For the leagues that have been finding ways to horn in on the treasure chest, it’s impossible to wash their hands of responsibility for the damage done by addiction.”
In Canada, a recent poll found 69% of people surveyed “believe problem gambling will increase as sports betting becomes more widely available and heavily advertised.”
Experts are also sounding the alarm over “prediction markets” that they say are not regulated under state gambling laws, but are still just as addictive as other forms of online gambling.
We have written over and over about how mobile gambling apps use addictive technology to hook people — especially young adults.
In 2024, the Arkansas Problem Gambling Council announced a 22% increase in calls for help with problem gambling — driven largely by sports betting.
By some counts, 20 year-old males account for approximately 40% of calls to gambling addiction hotlines, and upwards of 20 million men are in debt or have been in debt as a result of sports betting.
A report from the Federal Reserve Bank of New York found that states with legal mobile sports betting have seen credit delinquency rates spike — especially among borrowers under 40.
Bankruptcy attorneys across the country say online sports betting is driving a surge in personal bankruptcies — especially among young men in their 20s and 30s — and researchers at UCLA estimate that online sportsbooks are linked to an increase of roughly 30,000 more bankruptcies per year nationwide.
Sports betting is out of control. It’s corrupting sports and ruining lives.
Sports betting isn’t harmless entertainment — it’s predatory, and it’s growing. As powerful corporations try to make gambling part of everyday life, it’s important for Arkansas to protect its citizens and families from predatory gambling.
We have identified a few examples of simple, sensible steps that Arkansas and other states could take to protect families from predatory sports betting.
Policymakers need to address this issue. Otherwise, gambling addiction will simply continue wrecking lives and hurting families.
Articles appearing on this website are written with the aid of Family Council’s researchers and writers.
