The Hard Truth of Sports Betting
Americans wagered a record $119.84 billion on sports in 2023, up 27.5% from 2022.
By Phillip Kent
Gambling Phenomena
Gambling Phenomena
31 out of the 50 States legalized sports gambling.
To clarify, some sports books are banned in certain states that legalized sports gambling.
Consumer Side
Sports betting is now representing more than 40% of the total online gambling market.
It is currently so massive that ESPN had to implement their own gambling system to compete with all the other markets, known as ESPNBET. The technology is so advanced that companies have created apps just to explain all the markets and the probabilities of each bet to make.
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Parlays are combined bets to earn higher payouts at the expense of higher risk.
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Impact on Athletes
Sports betting has become so big that it directly impacts the athletes themselves.
One in three high-profile athletes receive abusive messages from someone with a sports betting interest, ninety percent of which is generated online or through social media.
Cleveland Cavaliers Head Coach J.B. Bickerstaff: “They got my telephone number and were sending me crazy messages about where I lived and my kids and all that stuff.” According to Kindbridge.com. “We may have a 10 point lead and the spread is 11 and people are yelling at me to leave the guys in so that we can cover the spread, it’s ridiculous.”
Bickerstaff concluded that it brings a distraction to everyone involved in the game.
Takeaways
Overall, legal sports betting has contributed over $22 billion to the US GDP. It’s a fun way to involve yourself more in a sporting event you might not have found interesting before.
Despite the positives, it is no excuse to irresponsibly gamble nor attack the athletes who are simply pursuing their careers… WINNING GAMES!