Problem gambling grows along with revenue, study finds

Sports agent Leigh Steinberg joins LiveNOW’s Austin Westfall to discuss the NBA’s decision on Wednesday to ban the Raptors’ Jontay Porter for life over gambling violations.
LOS ANGELES – With online gambling legalized in 38 states and Washington D.C., a new study reveals concerning trends: regular gamblers are experiencing more harm, betting on a wider range of activities, and showing increased awareness of gambling’s addictive potential. 
As sports betting has become widely available, researchers note a significant uptick in gambling activity across the country.
According to recent data, the number of gamblers facing addiction and financial struggles is growing. In Massachusetts, researchers tracked a rise from 12.7% in 2014 to 25.6% in 2023 among regular monthly gamblers reporting gambling problems—a trend mirrored in other states as online betting platforms proliferate. 
Experts point to the combination of legalization and increased accessibility as driving forces behind this uptick.
The nationwide growth of online gambling has sparked financial and mental health concerns. 
A report from the American Gaming Association showed combined online gambling and sports betting revenues reaching $9.04 billion in 2022, a figure projected to continue growing. 
Meanwhile, lower savings rates, reduced credit scores, and limited available credit have become more common among those impacted by problem gambling behaviors.
The study found a shift in perception among monthly gamblers, with more believing that gambling’s harm outweighs its economic benefits. This trend is especially pronounced in states that recently legalized sports betting, suggesting a growing awareness of the risks among those frequently engaging in online gambling.
This article is based on an Associated Press report and data from recent gambling studies in Massachusetts, with insights from the American Gaming Association and industry experts.