Sports Betting’s Financial Devastation

Gambling,

Research continues to reveal the true cost of America’s sports betting experiment.

Since the Supreme Court legalized sports betting in 2018, powerful gambling corporations have promised easy revenue and harmless entertainment. The reality has been far different.

Mobile betting makes the problem worse. A comprehensive study by UCLA researchers found that states with online sports betting saw credit scores drop nearly three times more than states with only physical sportsbooks. The study tracked seven million Americans and found a roughly 10% increase in bankruptcies in states with mobile betting apps — roughly 30,000 more bankruptcies per year, nationwide.

Arkansas families are not immune to these problems. Arkansas legalized sports betting in 2019, and Arkansans now wager more than a million dollars a day on average. In 2024, the Arkansas Problem Gambling Council announced a 22% increase in calls for help with problem gambling — driven largely by sports betting.

Sports betting promises easy money but delivers financial ruin. As powerful corporations try to make gambling part of everyday life, it’s important for Arkansas to protect citizens and families from predatory gambling. Otherwise, problem gambling will simply hurt more and more people in our state.

Articles appearing on this website are written with the aid of Family Council’s researchers and writers.

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Arkansas Sports Betting Jumped Nearly $100 Million in 2025

Gambling,

Arkansas families wagered $655 million on sports betting in 2025, a troubling increase of $98 million from the previous year, according to new figures from the Arkansas Department of Finance and Administration.

The 17.6% spike in sports betting is far ahead the state’s overall economic growth. While state officials celebrate the additional tax revenue, the numbers reveal Arkansans are being drawn into a predatory form of gambling that experts warn can be highly addictive.

Gambling addiction destroys lives and families. The false promise of easy money leads to real problems. Studies indicate people who gamble on sports may be twice as likely to suffer from gambling problems. Upwards of 20 million men are in debt or have been in debt as a result of sports betting.

And research now shows that the legalization of sports betting may be linked to serious financial problems in America — such as credit card debt, overdrafts, late payments on loans, lower credit scores, and higher bankruptcy rates. That hurts more than just the gamblers who wager on sporting events. It hurts their families and their communities.

Over the past year, the NCAA Committee on Infractions has uncovered a troubling pattern of sports betting violations involving student-athletes and staff members at different universities. It’s now almost routine for the NCAA to announce player suspensions for students-athletes who colluded to bet on one another. Basketball players may scheme to help each other win bets by, for example, missing free throws or scoring fewer points than expected in some games.

For example, at San Francisco, a basketball player provided inside information to a player at a different school who was betting on his performance through daily fantasy platforms.

Temple University’s men’s basketball program saw three separate gambling violations from 2022 to 2024.

In January, federal authorities announced indictments against in connection with an alleged bribery and point-shaving scheme to fix NCAA basketball games.

Sports betting is not a harmless pastime. As powerful corporations try to make gambling part of everyday life, it’s important for Arkansas to protect citizens and families from predatory gambling. Otherwise, problem gambling will simply hurt more and more people in our state. Family Council is calling on all Arkansans to do what they can to stand up against predatory sports betting.

Articles appearing on this website are written with the aid of Family Council’s researchers and writers.

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