Since the Supreme Court’s 2018 decision to allow states to legalize sports betting, online gambling has seen a significant increase — along with concerns about its impact on consumers.
Andrew Brandt, executive director of the Moorad Center of Sports Law and Business, expresses doubt, stating, “It’s hard to believe any of these states, including the Supreme Court, would not foresee some problematic gambling out of this.”
According to the American Gaming Association, sports betting is now legal in 38 states and the District of Columbia, with two more states considering legalization.
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A recent study by the University of California San Diego reveals that the legalization of online gambling boosts state revenues but also leads to more irresponsible betting, particularly among lower-income individuals.
Out of the 700,000 gamblers examined, 96% reported losses from gambling.
Another study conducted by California researchers indicates that in states with online gambling, the chances of declaring bankruptcy increase by up to 30% within three to four years.
Experts are strongly advising states to carefully evaluate the impact on consumers before legalizing online gambling.
Assistance is available for individuals struggling with a gambling problem at 1-800-GAMBLER.
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