legal sports betting market as a whole already pulled in just over $900 million in revenue in 2019, and that’s with less than half of states having legalized the practice. Being home all that time just leads people to have this kind of susceptibility to do short-term fixes, to get some kind of instant gratification.”Įstimated to generate between $7 billion and $8 billion in annual revenue by 2025, the U.S.
“This time has been extremely vulnerable for people who’ve already had an addiction or mental health issue, and for people that haven’t had one, they now may be at risk for developing one. “Throughout the pandemic, there’s definitely been a sharp increase in mental-health issues and addiction,” says Eric Fields, a psychologist who specializes in addiction therapy. These offers have exploded as a pandemic-weary public has proved the perfect target for betting startups, many of which are rushing to exploit ever-loosening state rules on betting. Offers such as “Bet $20, win $125 if Aaron Rodgers throws for one passing yard” or “Place your first bet up to $500 risk free” have become ubiquitous, as sportsbooks continue to dangle the prospect of essentially free money in hopes of acquiring a customer base that will bet and-more often than not-lose money over the long haul.
