It’s no secret that the connection between sports leagues and sports betting apps strengthens every season.
The sports gambling medium is so in our faces, it’s no wonder that sports betting is on one hell of a rise. Its effects do not exclude me, as I often gamble on sports.
I’m no high roller, by any means. Bets from five dollars to 20 dollars make up the wagers I place. I’m a frugal guy with major anxieties based on my financials. I cannot afford to lose 30, 50 or 100+ dollars on a single bet. After all, I’m a college student with bigger monetary fish to fry.
Even with my anxieties and awareness of my finances, sometimes it’s hard to stop. When you get on a losing streak, like I have been on for an entire month, it’s hard not to want to make that big swing at a parlay that’ll get it all back in one go.
My experience is most certainly shared. Most of my friends gamble, either at casinos or with sports betting apps. It doesn’t stop there. Within the last few years, sports betting has exploded. In 2018, Delaware was the second state in the country to legalize sports betting since Nevada did in 1931. Since then, 36 other states have joined them in legalizing sports betting.
According to Ipsos, sports bettors are likely to be highly engaged with sports and “more likely to be men, younger and/or wealthy.”
As a whole, Americans are wagering more. This is a no-brainer alongside the legalization. If I were to ask you what percentage of sports betting wagers has increased since 2018, what would you guess? 100%? 500%? 1000%? All of the following are a far cry from the actual number.
“In June 2018, the nationwide sports betting handle (the amount wagered) totaled $310 million,” Zack Fritz wrote for Sage Economics. “By January 2024, the monthly handle had surged to $13.9 billion, an increase of roughly 4,400%.
Was this bound to happen eventually? Most likely. The gaming associations in the United States were bound to get their foot back into the door eventually. But this is a whole new landscape.
By the time this article runs, Bally Sports will have just rebranded as FanDuel Sports Network. FanDuel is one of the top gambling apps in the United States. At this point, there should be no shock. Sports betting has begun to creep and intertwine itself with sports broadcasting and the leagues themselves.
We’re seeing the impacts of this new gambling landscape professionally and socially. Professional athletes like the NFL’s Calvin Ridley and NHL’s Shane Pinto have received lengthy suspensions for sports betting, while the NBA’s Jontay Porter received a hefty lifetime ban.
As reported in an NBC article from this year, gambling addiction hotlines are reporting that more people are calling in. With the ability to gamble now seated in America’s pocket, I fear the peak of sports betting issues is not even close to here.
As my age group and demographic become invested in placing parlays and gambling on games, there will be a continued build of financial problems and possible addiction.
I can’t sit here and write that gambling is evil and that you need to avoid it at all costs. I will gamble again and will more than likely lose. It’s part of the pastime. I’ve learned, time and time again, that no matter how I think I know sports, it’s a gamble for a reason. You’ll always be against the odds when gambling. Las Vegas will always win, sooner or later.
It’s so fitting that gambling, an act that comes with beautiful wins and terrible losses, has found a jackpot in a medium that shares the same formula.
With sports and betting, always know when to hang ’em up when the game isn’t fun anymore.