Arkansans have wagered an average of roughly $2.5 million every single day on sports betting this year.
Data from the Arkansas Department of Finance and Administration shows that from January 1 through July 31, sports bets totaled $529,050,612.76. Nearly all of those bets were placed online.
All told, Arkansans have wagered an average of more than $75.5 million every month, or roughly $2.5 million per day.
That figure is likely to increase once football season gets underway.
We have written repeatedly about the explosion in gambling over the past few years. Studies show more than half of men ages 18-49 now have an active sportsbook account online, and the Arkansas Racing Commission approved FanDuel and DraftKings to conduct sports betting in February. But a growing body of evidence shows sports betting is harmful — and that internet sports betting is especially destructive.
People who gamble on sports are at an increased risk of suffering from gambling problems. When sports betting happens online or on a smartphone, the risk is even higher.
A study published this summer found gambling disorder diagnoses have risen in states that legalized sports betting. Researchers said the largest increase in gambling disorders was found among young adults.
Unfortunately, gambling problems go hand-in-hand with financial problems.
A report from the Federal Reserve Bank of New York also found that states with legal mobile sports betting have seen credit delinquency rates spike.
A recent report from the Ethics and Public Policy Center confirmed that legal sports betting is linked to increases in personal bankruptcies and credit card delinquencies.
Bankruptcy attorneys across the country say online sports betting is driving a surge in personal financial problems — especially among young men in their 20s and 30s.
In fact, researchers at UCLA estimate that online sportsbooks are linked to roughly 30,000 more bankruptcies per year nationwide.
Arkansans need to understand that sports betting isn’t harmless entertainment — it’s predatory, and it’s growing.
To put it another way: Can Arkansas really afford to wager $2.5 million every single day on sports?
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. Otherwise, gambling addiction will simply continue wrecking lives and hurting families in our state.
Articles appearing on this website are written with the aid of Family Council’s researchers and writers.
