GREENVILLE, N.C. (WITN) – Sports betting has exploded in the U.S. since the 2018 Supreme Court decision to legalize sports wagering.
It’s expected to grow even more by the end of the year, reaching $77.87 billion, according to Statista.
ECU Gambling Research Director Dr. Michelle Malkin, says much like other states where it’s legal, North Carolina’s seeing an uptick in wagering.
“Every state that has legalized wagering since the 2018 Supreme Court decision has had a substantial increase in the amount of funds that the state earns from those new forms of legalized sports wagering.” in the state,” Malkin told WITN.
By 2029, Statista reports the sports betting market will reach $94.99 billion, with an average of 206 million users.
Malkin, says advancements in AI and the convenience of betting being at user’s fingertips is driving the spike. “If you use any of the gambling apps or if you’re even searching, your phone is now using AI so when you’re using social media — every second to third ad might be gambling related.”
However, she says there are some concerns.
“Some of those ads are from legitimate sources and some of those ads are social games that include a lot of the ability to put money in that is a newer form of gambling in some ways because people are putting money in to try and get more money out of the game, and some of that is offshore illegal wagering,” Malkin said.
Malkin told WITN that it’s important users do their research before wagering. “They have to do their own research so, if you google ‘North Carolina Sports Wagering Vendors’, you can see the listing of all those vendors that have been approved so you shouldn’t be wagering on anything else.”
As the sports betting market is growing, so is the need for gambling addiction counseling.
Therapist, Chris Gill, says “We have actually seen an increase in clients coming in, looking for help concerning their gambling disorder.”
To help combat the addiction, Gill told WITN it’s vital to know what to look out for. “Preoccupied with all things gambling. You’ll see them increasing their bets over time, they’re chasing their losses. They have a hard time. They say they want to stop but they really can’t do that on their own so that’ll increase to beginning to lie or borrowing money from friends and family, and using the gambling as an escape from the other stressors that they have on their life.”
Gill emphasizes prioritizing safe ways when sports betting. “If we’ve got limits that we’ve got set like ‘hey, I’m only going to use this amount on scratchers or I’m only going to make this amount on sports betting’ then, we’re setting good reasonable boundaries. As long as we adhere to that, there’s nothing wrong with that.”
With Super Bowl LIX just over a week ago, Malkin says the big game also contributed to the increase. That’s because she says more people have access to legalized sports betting. Now, many are getting ready for baseball season which she says will also drive market growth.
To bet responsibly, resources to do so can be found on the National Counsel on Problem Gambling website.
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