The legalization of online gambling increases state revenues but also leads to irresponsible betting, especially among lower-income gamblers, a report has found
The legalization of online gambling increases state revenues but also leads to irresponsible betting, especially among lower-income gamblers, a report from UC San Diego’s Rady School of Management has found.
As the Paris Summer Olympics approaches, researchers believe activity will increase on gaming sites such as DraftKings and FanDuel. A total of 16 states have launched legal sports betting markets in the three years since the 2021 Tokyo games. California does not allow online sports betting. However, 30 states currently permit online sports betting, with seven of them also allowing online casino gaming. The paper’s authors looked at data from 32 states over five years — comparing 18 states that changed online gambling policies to 14 that did not.“Of the more than 700,000 gamblers that we studied, 96 percent appeared to lose money to online gambling,” Wilbur said. “Only 4 percent made money from online betting. That is by design.
Canada advises gamblers to spend less than 1 percent of monthly income on gambling. However, the data revealed that 43 percent of gamblers studied exceeded 1 percent of income in gambling months, with 5 percent spending more than 10 percent of their income on gambling and 3 percent spending more than 15 percent of their monthly pay.The researchers seek to provide the data to state legislatures as some — such as New York and Illinois — consider expanding legalized gambling.
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