Since the Supreme Court’s 2018 decision struck down Federal anti-sports gambling law, 38 states have legalized sports gambling, as well as Washington D.C., and Puerto Rico (motto: “Where ‘teaser’ doesn’t just refer to potential statehood”). Sports betting revenue in the U.S. climbed from $430 million in 2018 to $7.56 billion in 2022, according to the website Statistica. The American Gaming Association estimated that from January to November 2023, our fellow citizens wagered $106 billion on sports.
The National Council on Problem Gambling estimates that seven million Americans suffer from gambling addiction. The annual social cost of problem gambling is approximately $7 billion, the NCPG estimates, encompassing healthcare spending, job loss, bankruptcy and gambling-related criminal justice measures. For example, New Jersey’s gambling helpline saw calls more than double between 2019 and 2023, from just over 1,000 to more than 2,300. Connecticut’s gambling helpline saw a 91-percent increase in calls from 2021 to 2022.
As many have pointed out, gambling simply “looked” different not so long ago. Diana Goode, head of the Connecticut Council on Problem Gambling, said in a recent piece on NPR’s Marketplace, “In order to gamble, you had to put clothes on. You had to get up, you had to go out, and now you don’t.”
Wexler is a mite hyperbolic. Plenty of people care, and organizations abound to lend assistance. But the noise and lights and dopamine jolt often overwhelm the safe spaces. And if you point out that the lure of free money, along with cigarettes and booze and weed, are laid out in plain sight with low guardrails, you wouldn’t be wrong. There’s a libertarian streak within American society that reflexively chafes at the idea of a nanny state, that people should be able to bet the Ravens to cover or sink their money into cryptocurrency or to hotbox unfiltered Camels or tattoo the names of future ex-wives on their bodies.
In other words, personal responsibility for decisions, good and bad. Freedom and all that.
One caveat to that is, in a country of 330 million, even a miniscule percentage who behave irresponsibly can amount to hundreds of thousands, if not millions, of people capable of wreaking outsized damage to themselves and society at large. Never mind the notion of taking care of the citizenry who aren’t wired for moderation, or the idea that those who provide the temptations bear at least some responsibility for outcomes, good and bad.
Last month, a pair of Congressional bills – one in the House, one in the Senate – were introduced to address gambling’s effects. The Gambling addiction, Recovery, Investment and Treatment (GRIT) Act would set aside 50 percent of the revenue from the existing Federal sports excise tax (0.25 percent of the amount of any legal wager with a commercial sports book) for gambling addiction and treatment and research. That number ballooned from $38.7 million in fiscal year 2020 to $270 million in FY 2023 due to the sharp increase in gambling outlets and overall wagering. (side note: the excise tax dates back to the 1950s, as a tool for prosecuting illegal bookmaking operations). The Gaming Industry wants the tax repealed, arguing that it unfairly targets legal sports books and potentially pushes those who choose to gamble toward illegal avenues. Good luck with that. Lawmakers are as likely to introduce legislation in Pig Latin as to voluntarily shut off a revenue spigot. Legal folks have taken notice, as well. The Public Health Advocacy Institute at Northeastern University brought a class action suit in December against DraftKings in Massachusetts, alleging deceptive advertising practices. The PHAI, which also parried with the tobacco industry, claims that DraftKings’ offer of a $1,000 sign-up bonus comes with conditions and requirements that the sportsbook does not make clear.
Expect similar stories going forward, as sports gambling broadens its reach and becomes more sophisticated, offering everything from future results (team makes the playoffs) to in-game micro-bets (first goal, next home run, number of Steph Curry 3-pointers). There will be winners and losers, fiscally and socially. Many will navigate the terrain responsibly, while for some it will become a managed obsession, as everyone seeks activities that match the excitement of laundry night.
Posts
14 comments:
OBXD bringing the heat once again. I don't gamble because I don't like to lose and I don't like to lose money and gambling involves lots of both of those things. And I worry that I will grow to like it too much.
The idea that a tax on gambling will push people to illegal avenues is laughable--36 out of 40 Virginia boys had a legal gambling app on their phone. I doubt that the other 4 boys have a guy at the pool hall who takes their action. I also doubt that 36 of those same 40 boys use illegal avenues to buy drugs or alcohol, or to have sex, or to cast mail-in votes. There's no way 90% of 17-year-old boys in Virginia drink or use drugs, or visit prostitutes, or commit voting fraud (at least not based on the guys on my freshman hall). That's the whole point of legalizing prohibited activities, everyone can do it but the government regulates and taxes it. Now, they're probably too young to have the gambling app, which blows up a lot of this paragraph, but there's no way they would be gambling in a back alley to avoid taxes on their Fanduel accounts.
i enjoy taking the occasional punt, mostly on golf, soccer, and college hoops. i rarely wager more than $20, and more often put $1-2 on players to win pga tour events at reasonably long odds. i lose more than i win, but i'm up in the long-term (we're talking like $380 on an initial $100 stake, so not exactly floyd mayweather money) because i've hit on a few fliers. for me, it's a harmless way to add a frisson of excitement to a contest i wouldn't otherwise care about - i had nebraska +0.5 at home against wisconsin the other day, and the huskers' comeback from 18 points down to win had me a whole lot more excited than i otherwise would.
all that said, i certainly see the potential societal downsides to the loosening of the rules we've seen, and it's more than a little questionable to see leagues getting in bed with gambling enterprises. the convergence, she is nigh.
told the proprietor one of the shops that gives my dog treats during our daily walks about the jojo book and before i could ask for anything she got excited and said we had to do a book signing at the shop during one of our town's first friday celebrations. so we got that going for us.
Dat fuggin mutt is faymiz.
Wow. This sentence is among my favorites to ever populate the front page of this webblog: There’s a libertarian streak within American society that reflexively chafes at the idea of a nanny state, that people should be able to bet the Ravens to cover or sink their money into cryptocurrency or to hotbox unfiltered Camels or tattoo the names of future ex-wives on their bodies.
Bravo, OBX Dave.
frisson is your $5.00 gtb word of the day. thanks rob - i learned something today
Frisson, az in dare's a fuggin frisson my kihzhin.
There’s a wocket in your pocket?
not small
Welllllllllll played, robbie
RIP Toby Keith.
I like putting down the occasional wager - mostly CFB and random NBA parlays. The NFL is entirely too close and I don't follow CBB as closely as I once did so I generally stay way. I've been using an offshore account for years and have had no complaints. Florida just recently allowed online sports betting via the Hard Rock Bet app. And boy let me tell you - that thing sucks. Not nearly enough options for props, parlays, etc. I'll likely check it out on Sunday but more than likely will end up betting on my old standby.
Like Zman though, I hate losing money so most of my bets are pretty modest.
speaking of gambling, anyone got any fun props on the superb owl? brock purdy scoring a rushing tuddy at +8000 intrigues me, among others.
today's sentence of dave is gonna set a new record for number of comments.
Post a Comment