Arkansans Wagered $86.5M+ on Sports Betting in March

Gambling,

Arkansans wagered more than $86.5 million online in sports betting last month, according to reports from the Department of Finance and Administration.

Sportsbooks are now legal across most of the country, including Arkansas. Earlier this year the Arkansas Racing Commission approved sports betting license applications by FanDuel and DraftKings. State financial data shows that between the NCAA March Madness tournament and these new online sportsbooks, sports betting spiked by millions of dollars last month.

But this type of gambling is taking a terrible toll on families’ finances. Studies indicate people who gamble on sports may be twice as likely to suffer from gambling problems. When sports gambling happens online, the rate is even higher.

A study by Northwestern University found that for every dollar spent on sports betting, household investment falls by an average of $2. Researchers at UCLA estimate that online sportsbooks are linked to an increase of roughly 30,000 more bankruptcies per year nationwide.

Some online sportsbooks have actually produced advertisements that seem to promote compulsive gambling and other problem-gambling behavior.

In 2023, FanDuel released one commercial that showed people so focused on sports betting that they ignored everyone else around them.

Another ad promoted taking advantage of every opportunity to gamble.

In 2024, FanDuel aired commercials encouraging people to gamble on “surprising” hunches — including powerful hunches that strike between football plays.

More recent commercials advertise “playoff mode” with promotional offers such as $300 in “bonus bets.”

Gamblers who ignore loved ones, wager nonstop, or place bets “on a hunch” quite possibly suffer from gambling addiction, and high-end promotional offers may appeal to people who struggle with gambling problems.

Sports betting is out of control. It’s corrupting sports, and it’s ruining lives. The NFL and sportsbooks have actually faced lawsuits over the harm from gambling addiction and in-game micro-bets.

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.

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Federal Reserve Bank Report Shows Sports Betting Hurts Consumer Credit

Gambling,

A new report from the Federal Reserve Bank of New York shows consumer credit health is suffering in the wake of sports betting’s legalization.

Sportsbooks are now legal across most of the country, and financial data shows last year Arkansans wagered an average of nearly $1.8 million every day placing sports bets. But this type of gambling is taking a terrible toll on families’ finances.

A new report from the Federal Reserve Bank of New York found legalization of sports betting leads to a tenfold increase in spending at online sportsbooks. Researchers also found an increase in credit delinquencies and a decline in credit scores after legalization.

This is just the latest report showing the financial harm that sports betting causes.

Research now shows that the legalization of sports betting may be linked to serious financial problems like credit card debt, overdrafts, late payments on loans, lower credit scores, and higher bankruptcy rates.

A UCLA study found that states with online sportsbooks saw credit scores decline three times as much as states with only physical betting locations.

One writer at The Atlantic described sports betting’s impact as “a wave of financial and familial misery” for households that are least able to afford it.

Besides the financial impact, studies have also linked legal sports betting to increases in binge drinking, mental harm, and even violent crime.

Sports betting is out of control. It’s corrupting sports, and it’s ruining lives.

Tax revenue from gambling has not improved Arkansas’ roads or boosted the economy. 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.

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NFL, Sportsbooks Face Lawsuit Over Micro-Betting Addiction

Gambling,

Two Pennsylvania men have sued NFL, DraftKings, FanDuel, and other sportsbooks over the harm from gambling addiction and in-game micro-bets.

Nationwide, sports betting is now legal in 39 states, and in Arkansas people wagered an average of nearly $1.8 million on it every day last year. But a growing body of evidence shows sports betting is harmful. Internet sportsbooks and online gambling are especially destructive.

One problem is that many sportsbooks accept micro-bet wagers — such as bets placed on the next play, next pitch, or next possession during a ballgame.

Micro-bets are designed to be fast-paced and repetitive, both of which are linked to problem gambling and addiction.

Pennsylvania plaintiffs Christopher Sage and Terry Thompson allege in their lawsuit that they developed gambling addictions after DraftKings and FanDuel began offering micro-bets.

The sportsbooks also allegedly assigned each man a personal “VIP Host” who enticed them to continue gambling.

We have written again and again about the dangers of internet sports betting.

Twenty-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.

There is strong evidence linking sports betting to increases in binge drinking as well as physical and mental harm.

Researchers also say legal sports betting is tied to sharp increases in violent crime.

Arkansans need to understand that sports betting isn’t harmless entertainment — it’s predatory, and it is expanding in our state.

In February, the Arkansas Racing Commission approved sports betting license applications by FanDuel and DraftKings. DraftKings reportedly will partner with Southland Casino in West Memphis, and FanDuel will partner with Oaklawn Casino in Hot Springs.

As this lawsuit highlights, sports betting fosters addiction, and it is linked to serious problems that hurt individuals, families, and whole communities.

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.

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