Colorado Hedging its Bets in the Wake of Sports Gambling Problems
Recent reports underscore why the State of Colorado is hedging its bets in the wake of serious problems from the expansion of sports gambling.
Nationwide, sports betting is legal in 39 states — including Arkansas, where people are on track to wager nearly a billion dollars this year on sports betting alone. But a growing body of evidence shows this type of gambling is causing serious financial harm.
Westword reports that sportsbooks are causing problems in Colorado, writing:
“Coloradans placed nearly $6.45 billion in sports bets in the last year, according to the state Division of Gaming. That’s an all-time high, as Colorado has set a new annual record every fiscal year since online sportsbooks opened. In total, the state’s residents have wagered more than $32.55 billion since 2020.
“Calls and texts to Colorado’s gambling addiction helpline jumped 45% from 2020 to 2021, in the first year of legal sports betting, according to the Problem Gambling Coalition of Colorado, which manages the helpline. In 2025, intakes from the helpline doubled compared to 2021, says Jamie Glick, executive director of the coalition. …
“In states that legalized sports betting, gambling disorder diagnoses increased by more than 60% from 2018 to 2026, according to a study by Epic Research. National research shows that sports gambling states experienced more bankruptcy filings, higher debt collection amounts, lower credit scores and more credit delinquencies. Some studies link legal sports betting to higher rates of domestic violence following upset losses.”
Last month news outlets reported, Colorado enacted a law preventing gamblers from using credit cards to fund sports betting apps, and limiting sportsbook deposits to six per day. The new rules are the result of a bipartisan bill passed in May after lawmakers grew alarmed by rising addiction rates — especially among young men and boys.
Studies show more than half of men ages 18 – 49 now have an active sportsbook account online, and bankruptcy attorneys across the country say online sports betting is driving a surge in personal bankruptcies among young men in their 20s and 30s.
Chad Van Horn, a bankruptcy attorney in Florida, recently told Business Insider that roughly 15% of his clients now carry gambling-related debt — and that it piles up faster than any other type of debt he sees.
He described clients going from zero to $25,000 in credit card debt in a matter of months. “The debt builds incredibly fast because people aren’t gambling with cash; they’re gambling with borrowed money,” Van Horn said.
Ed Boltz, a bankruptcy attorney in North Carolina, said the same thing, noting that, “It has been astonishing, the speed in which people can fall into this.”
Scientific research shows that young men who wager on sports may be at increased risk of physical and mental harm.
Some studies have also linked legal sports betting to increases in divorce, binge drinking, domestic violence, and violent crime.
And a 2025 survey found one in four sports bettors worry that they cannot control their gambling.
Legalized gambling has become a blight nationwide — including Arkansas. Tax revenue from sports betting has not improved Arkansas’ roads or boosted the economy. And unless Arkansas’ lawmakers and its people take a stand, gambling addiction is simply going to continue wrecking lives and hurting families across our state.
Articles appearing on this website are written with the aid of Family Council’s researchers and writers.
