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Does sports betting need guardrails?
Does sports betting need guardrails?
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Subtitle (65)
0:00
This weekend's World Cup was one of the
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biggest betting events in history, which
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also means it alerted a lot of
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first-time gamblers and some seasoned
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ones, too. US addiction experts and
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researchers [music]
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are very concerned about the data
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they're seeing from all this new
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gambling.
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>> We see it in the number of phone calls
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to gambling helplines. We see it in the
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number of inquiries for people calling
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for treatment-related gambling problems.
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[music] The end result has been a clear
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surge in the uptake of gambling problems
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related to online sports betting.
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>> We've created a world where technology,
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sports, and allowing sports betting has
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essentially normalized that activity to
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the point where it's available 24/7.
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Think about the opioid crisis when there
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was essentially just more [music]
0:41
heroin and more fentanyl and more opioid
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pills, it created more patients with
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opioid use disorder. It's the same way I
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think for gambling disorder.
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>> Since the Supreme Court removed the
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federal ban on sports betting in [music]
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2018, the gambling industry has
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exploded. Early numbers are in for
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states that have legalized sports
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betting, and these two data points
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really stood out to me. First, in states
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that legalized sports betting, sports
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book spending increased about tenfold.
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>> higher rates of delinquencies on car
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notes and higher bankruptcy filings,
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higher credit card debts, more signs of
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financial strain.
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>> Second, this new debt is pretty
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concentrated among younger borrowers and
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new bettors.
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>> You look at a lot of the gambling
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advertising, you see a lot of imagery
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that's very much geared toward young
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people. You see a lot of imagery related
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to parties and making money and fun and
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all these wonderful things, [music] but
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it's not the product. When you advertise
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in a way that minimizes the potential
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harm of your product, it's false.
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>> So, now that we've opened Pandora's Box
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on sports betting, what can be done to
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prevent the slide into a potential
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addiction crisis?
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>> Advertising, getting a handle on the
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unregulated market, and teaching people
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at an early age and [music] when they
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start gambling on sports about what
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exactly this product is that they're
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getting into. There are also mobile apps
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out there that folks can use to kind of
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get more informed about their own
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gambling behaviors before things develop
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and get more serious.
