Following the Supreme Court’s 2018 decision to allow states to legalize sports betting, the online gambling industry has seen a significant increase, raising concerns about its impact on consumers.
Andrew Brandt, executive director of the Moorad Center of Sports Law and Business, expressed his doubts, stating, “It’s hard to believe that any of these states, including the Supreme Court, did not anticipate some problematic gambling outcomes.”
According to the American Gaming Association, sports betting is currently legal in 38 states and the District of Columbia, with two more states considering legalization.
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A recent study from the University of California San Diego revealed that while the legalization of online gambling boosts state revenues, it also leads to more irresponsible betting, particularly among lower-income individuals.
Out of the 700,000 gamblers studied, 96% suffered losses from gambling.
Another study by California researchers discovered that in states with online gambling, the likelihood of declaring bankruptcy increases by up to 30% within three to four years.
Experts are urging states to carefully weigh the consequences for consumers before legalizing online gambling.
Assistance is accessible for individuals struggling with a gambling problem at 1-800-GAMBLER.
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