The impact of online sports betting...

[Harpy Eagle]

https://www.cnbc.com/2024/08/21/the-explosion-of-online-sports-betting-is-taking-a-toll-on-how-people-invest.html

The authors found that sports betting has exploded since the Supreme Court overturned a federal law prohibiting it in 2018. Since then, 38 states have legalized it and it has become a growth industry, generating more than $120 billion in total bets and $11 billion in revenue in 2023 alone.

That has put considerable sums into state coffers, but it has come at a notable personal expense to gamblers and their families. Those who participate tend to invest less and have higher debt levels.

“Our results show that not only does sports betting lead to increased betting activity, but it also leads to higher credit card balances, less available credit, a reduction in net investments, and an increase in lottery play,” the authors concluded.


Well who did not see this coming?

I agree with the SCOTUS ruling, the Fed Govt has no basis to make it illegal, but the outcome was pretty much predictable.

 

[Tommy Tainant]

https://www.cnbc.com/2024/08/21/the-explosion-of-online-sports-betting-is-taking-a-toll-on-how-people-invest.html

The authors found that sports betting has exploded since the Supreme Court overturned a federal law prohibiting it in 2018. Since then, 38 states have legalized it and it has become a growth industry, generating more than $120 billion in total bets and $11 billion in revenue in 2023 alone.

That has put considerable sums into state coffers, but it has come at a notable personal expense to gamblers and their families. Those who participate tend to invest less and have higher debt levels.

“Our results show that not only does sports betting lead to increased betting activity, but it also leads to higher credit card balances, less available credit, a reduction in net investments, and an increase in lottery play,” the authors concluded.


Well who did not see this coming?

I agree with the SCOTUS ruling, the Fed Govt has no basis to make it illegal, but the outcome was pretty much predictable.

Its a problem in the UK as well. The gamblling industry owns several MPs on order to stifle any measures to reguate the industry.
They are a modern day scourge.

 

[martybegan]

Its a problem in the UK as well. The gamblling industry owns several MPs on order to stifle any measures to reguate the industry.
They are a modern day scourge.

Just because you can't control you gambling addiction doesn't mean the rest of us who can gamble responsibly should suffer.

 

[martybegan]

https://www.cnbc.com/2024/08/21/the-explosion-of-online-sports-betting-is-taking-a-toll-on-how-people-invest.html

The authors found that sports betting has exploded since the Supreme Court overturned a federal law prohibiting it in 2018. Since then, 38 states have legalized it and it has become a growth industry, generating more than $120 billion in total bets and $11 billion in revenue in 2023 alone.

That has put considerable sums into state coffers, but it has come at a notable personal expense to gamblers and their families. Those who participate tend to invest less and have higher debt levels.

“Our results show that not only does sports betting lead to increased betting activity, but it also leads to higher credit card balances, less available credit, a reduction in net investments, and an increase in lottery play,” the authors concluded.


Well who did not see this coming?

I agree with the SCOTUS ruling, the Fed Govt has no basis to make it illegal, but the outcome was pretty much predictable.

My lottery play hasn't increased. $32 a week for my tax on people bad at math.

It's enough baseline action to keep my happy until football season, with my 2 fantasy leagues, 1 weekly pool, and occasional game bets.

 

[Tommy Tainant]

Just because you can't control you gambling addiction doesn't mean the rest of us who can gamble responsibly should suffer.

Govt should protect the vulnerable.

 

[martybegan]

Govt should protect the vulnerable.

Not by banning something the rest of the people can handle without issue.

 

[Rambunctious]

Just say no... gambling is stupid....

 

[shockedcanadian]

https://www.cnbc.com/2024/08/21/the-explosion-of-online-sports-betting-is-taking-a-toll-on-how-people-invest.html

The authors found that sports betting has exploded since the Supreme Court overturned a federal law prohibiting it in 2018. Since then, 38 states have legalized it and it has become a growth industry, generating more than $120 billion in total bets and $11 billion in revenue in 2023 alone.

That has put considerable sums into state coffers, but it has come at a notable personal expense to gamblers and their families. Those who participate tend to invest less and have higher debt levels.

“Our results show that not only does sports betting lead to increased betting activity, but it also leads to higher credit card balances, less available credit, a reduction in net investments, and an increase in lottery play,” the authors concluded.


Well who did not see this coming?

I agree with the SCOTUS ruling, the Fed Govt has no basis to make it illegal, but the outcome was pretty much predictable.

It's just another vice and a complicated issue for sure.

I believe people should be free to do what they want. I experienced first hand the addiction of a gambler and it wasn't a happy time for me, nor was my safety secure.

 

[martybegan]

Just say no... gambling is stupid....

Gambling above your means is, gambling within them is just another form of entertainment.

 

[Harpy Eagle]

Govt should protect the vulnerable.

It is not the job of the Govt to keep up safe from ourselves.

 

[Tommy Tainant]

It is not the job of the Govt to keep up safe from ourselves.

Why cnt you get a drink till you are 21 then ?

 

[Tommy Tainant]

Not by banning something the rest of the people can handle without issue.

Im not calling for a ban. But guard raiils need to be in place.

 

[Harpy Eagle]

Why cnt you get a drink till you are 21 then ?

It is stupid you cannot get one at 18. Protecting children makes sense, having different levels of adulthood does not

But our Govt does a lot of things that are not really its job

 

[Rambunctious]

It is stupid you cannot get one at 18. Protecting children makes sense, having different levels of adulthood does not

But our Govt does a lot of things that are not really its job

Protecting children?... what a joke... what about the 35,000 kids from the border who are being trafficked as slaves and sex slaves Biden Harris has lost track of....

 

[martybegan]

Im not calling for a ban. But guard raiils need to be in place.

When progressives talk about "guard rails" they mean bans.

 

[Tommy Tainant]

When progressives talk about "guard rails" they mean bans.

No. I am talking about betting firms managing their own business. For example by noting when people are losing larger than usual amounts of cash. Or changes to their usual habits.
They have all that info.

 

[martybegan]

No. I am talking about betting firms managing their own business. For example by noting when people are losing larger than usual amounts of cash. Or changes to their usual habits.
They have all that info.

Babysitting then by government mandate.

And when the companies do that then gamblers will then go back to the illegal bookies, who offer credit at street rates, and have far more persuasive ways to recollect debts.

 

[Tommy Tainant]

It is stupid you cannot get one at 18. Protecting children makes sense, having different levels of adulthood does not

But our Govt does a lot of things that are not really its job

Its the same priniple though. My girlfriend was refused a glass of wine in Fort Lauderdale because she was 18.
But the same hotel had no problem when she sucked me off in our hotel an hour later.
In the UK we have betting shops. The staff are supposed to monitor problem gamblers but they rarely do. They ply them with tea and biscuits.. Gambling is as much an addiction as drugs or alcohol.

 

[Harpy Eagle]

Its the same priniple though. My girlfriend was refused a glass of wine in Fort Lauderdale because she was 18.
But the same hotel had no problem when she sucked me off in our hotel an hour later.

Did the hotel watch her doing it?

But yes, in the US we are stupid, we have levels of being an adult. That is stupid. We need to pick an age and stick with it

 

[Tommy Tainant]

Babysitting then by government mandate.

And when the companies do that then gamblers will then go back to the illegal bookies, who offer credit at street rates, and have far more persuasive ways to recollect debts.

Its a problem. In the UK the betting firms were taxed until they moved to Gibralter and the treasury got nothiing..
But you hold out your hands saying nothing can be done. i dont believe that is true.
Gambling companies are basically scum. They should be regulated.