NEW YORK (AP) — The stunning indictment that led to the arrest of more than 30 people, including Miami Heat guard Terry Rozier and other NBA figures, on charges of illegal sports betting has drawn new scrutiny of the booming business of professional sports gambling across the U.S.
Since widespread legalization, the multibillion-dollar industry has made it easy to place wagers on everything from the outcome of games to that of a single play with just a few taps of a cellphone. It’s just about impossible to go to a basketball, football, baseball or other pro game today — or watch a matchup on TV — without seeing ads for sports betting.
Fans can place wagers from their stadium seats, while “Bet” tickers scroll on TV sports broadcasts. Star athletes are frequently at the center of ads promoting it all.
Regulating sports wagering has proven to be a challenge — and experts warn about the ramifications for gamblers who typically lose money. Professional leagues’ own role in promoting gambling has raised eyebrows.
Sports betting also faces criticism for opening the door to addictive gambling.
“The fact that it’s normalized, the advertising is aggressive, it’s available 24/7, the micro bets — all of this is adding up to tremendous increase in usage across individuals,” Wayne Taylor, a professor of marketing at Southern Methodist University, told the Associated Press, citing algorithms and other incentives betting platforms use to increase engagement.
Isaac Rose-Berman, whose research focuses on sports betting as a fellow at the American Institute for Boys and Men, noted that platforms make the most off of returning “biggest losers.” Recent research suggests that young men in low-income communities are particularly affected by financial consequences tied to sports gambling.
“Upwards of 90% of sports bettors are not really going to experience significant negative impacts — but it’s really concentrated among those big losers and it’s going to be devastating for them,” he said.
So, how do you know if you have a gambling problem?
If you’re hiding the fact that you gamble to your friends and family, do it when you’re stressed and experience mood changes, you may be showing warning signs of a gambling addiction. The Associated Press explains in the video below: