That’s money they’re not spending in other parts of the economy, or worse, money they borrowed that they may not be able to pay back.
In just one month last year, sports gamblers wagered $7 billion - a 20-fold increase from three years earlier. And the amount of money some Americans now blow on sports bets should raise concerns about their financial health. Online gambling has become prevalent among high school students, even though the age for legal betting ranges from 18 to 21 depending on the state. Many of the more than 30 states that permit sports betting - including Michigan, Virginia and Connecticut - have seen spikes in demand for services to help people addicted to gambling, often without resources to respond adequately.
Supreme Court ruled in 2018 that states can allow sports betting, legal gambling has exploded across America - leaving some predictable problems in its wake.
