A CASINO IN YOUR HAND –
Sept. 9, 2023 – The State has considered problem gamblers by requiring the sportsbook companies and other forms of advertized gambling to put warnings on ads, usually in very small print, or quick quotes giving problem gamblers a solution. They also set aside 1% of revenues to address problem gamblers.
On average, there are 1.2 billion transactions with New York residents loosing $4 million dollars a day.
Nationally the MoffettNathanson Research estimates the sports betting market will increase exponentially in 2025 to $11 billion in revenue, from $1.13 billion in 2020. It is projected to grow to $3.6 billion in 2021 and $15 billion in 2030.
Closer ties between networks and sports gambling operations are expected in the near future.
Simply watching a game and cheering on your favorite teams has been completely overhauled.
“Betting itself is a huge fan engagement tool…People tend to get more emotionally involved when money is involved.”- NBA Brooklyn Nets Owner Joe Tsai.
So, what is the impact of problem gambling sports bettors v. other types of problem gambling?
According to the Western & Finger Lakes Problem Gambling Resource Center (PGRC):