It is no secret that online sports betting is rapidly growing in New York, but its increasing popularity could be bad news for local bettors. In a recent Shanley Olszowy, the program manager for Western Problem Gambling Resource Center, spoke about problem gambling. Currently, New Yorkers are losing US$4 million every day on mobile sports wagering apps.
The Empire State’s prominent mobile sports wagering market debuted in January 2022 but it quickly transformed into one of the top jurisdictions for legal online sports betting. In its first 12 months, it produced over US$700M in tax revenue to the state from bets alone. But its rapidly increasing popularity has raised some concerns among experts.
Numbers are Mind-Boggling
In a recent interview, Ms. Olszowy said a few words on sports gambling, in an attempt to protect consumers. She noted the mobile sports betting numbers are staggering as New Yorkers placed more than US$16 billion and lost US$1.4 billion on mobile sports betting apps in the first 12 months of the new market, which is quite concerning.
Furthermore, the New York State Gaming Commission also shared that there has been a 26% uptick in problem gambling-related calls to the Office of Addiction Services and Supports from 2021 to 2022. It also reminded bettors that there are free resources to help them build better playing habits. They can be found on nyproblemgamblinghelp.org, oasas.ny.gov/gambling, or calling 1-877-8-HOPENY.
Some of the warning signs of a gambling problem include becoming increasingly obsessed with the idea of placing bets, becoming hooked on the highs of gambling, and gambling more and more money, more and more often over time. Other indicators are when one uses gambling as a way of escaping everyday problems and starts to lose interest in normal activities.
The list of red flags continues with trying but failing, to suspend or control gambling habits, acting restless and irritable when not gaming, or having an attitude that no win is ever good enough. More signs are when one lies about losses and exaggerates their wins, bets until their money is gone, or tries to borrow, or steals money to use on gambling or pay off gambling-related debts.
Comptroller’s Findings
Just recently, New York State Comptroller Thomas DiNapoli issued a report assessing the impact of the mobile sports betting sector which led to an increase in problem gambling. Mr. DiNapoli added that the rise in calls should lead to more attention on the impact of mobile sports betting, especially on younger demographics due to the 24/7 availability and easy access to the online option.
However, the Empire State has also taken some measures to tackle problem gambling. In June 2023, the state launched a new voluntary self-exclusion support program allowing local gamblers to freely enroll and take a break from wagering. Meanwhile, a study from 2020 finds that 4.4% of New York’s adults are at-risk gamblers while 0.7% are problem or pathological gamblers.
Source: Fuss, Breanna “New York sees increase in problem gambling; what to look for” Spectrum News 1, October 26, 2023
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