The American Gaming Association reported that Americans wagered nearly $120 billion on sports in 2023, marking a significant increase from the previous year. This surge in sports betting has also contributed to increased fan engagement, as noted by Kenneth Shropshire, an expert in the sports business at Wharton. Shropshire highlights that people are more invested in watching games until the end to secure their bets, which has become a crucial factor in driving viewership.
However, despite the positive impact on fan engagement, concerns around irresponsible gambling and athlete betting scandals persist. Shropshire emphasizes the importance for leagues and sportsbooks to address these issues to maintain the integrity of sports. In response to these concerns, seven of the largest U.S. sportsbooks have formed a trade group known as the Responsible Online Gaming Association to promote responsible gambling.
The association aims to share best practices and the names of customers who have been banned from their platforms due to problematic betting behavior. This initiative comes in the wake of Major League Baseball and the NBA investigating high-profile betting scandals involving athletes. By working together, these sportsbooks hope to build consumer confidence and establish themselves as responsible players in the industry.
Economist Victor Matheson from the College of the Holy Cross notes that while the primary goal of these sportsbooks is to maximize revenue by encouraging increased betting activity, they may be implementing internal regulations to mitigate potential legal risks associated with irresponsible gambling and addiction. As such, it remains uncertain how effective this association will be in promoting responsible gambling or addressing broader issues related to problematic gaming behavior.
