Sports Betting Rose During Pandemic – Experts Warn of Gambling Problems

Sports Betting Rose During Pandemic – Experts Warn of Gambling Problems

Last updated on May 15th, 2021 at 10:30 am

The United States is experiencing a legal sports betting boom. Case in point, sports betting rose during pandemic. Also, it started when the Supreme Court overturned the PASPA in 2018. In 2020, five states and Washington DC made sports betting legal.

At present, there are 21 states with legal sports wagering market. Online gambling took a sharp increase during the pandemic as casinos closed to prevent the spread of the virus. According to sports betting software reports, Americans had to stay home and only bet on sports through apps and websites.

Despite the rise of online gambling, state and federal governments devoted few resources to monitor and treat people with gambling problems. Some critics of the sports betting bookie software industry said that it is a ticking time bomb. Authorities need to act before the situation is too difficult to handle.

Sports Betting Rose During Pandemic

Sports Betting Rose During Pandemic – Experts Warn of Gambling ProblemsSports betting firms such as DraftKings and FanDuel increased their brand presence by sponsoring major events. Also, they placed ads on TV and social media. Thus, more people are aware of sportsbooks than ever before.

According to sports betting software solution sources, gambling companies implemented features to prevent problem gambling. Also, they allow players to set spending and deposit limits. Players can also restrict access to sportsbooks for specific periods.

The gambling industry is a highly regulated one. Companies need to follow the rules and regulations to prevent paying fines and other penalties. Some infractions include activating accounts for players belonging on self-exclusion lists and offering unapproved games.

However, some advocates worry that the gambling industry lacked guidelines to protect problem gamblers at risk of suicide. Also, they want stricter rules to stop illegal activities, such as money laundering.

As online gambling firms compete against each other, there are concerns that they put little effort into preventing problem gambling.