Sports bettors in US lose money needed for living expenses on gambling

The impact of sports gambling legislation on social issues such as indebtedness and gambling addiction has been difficult to establish. At best, it has been a moving target with the results stilted by research methodology, bias, or favoritism. Now, though, a new study out of Siena College Research Institute and St. Bonaventure University’s Jandoli School of Communication suggests that 18% of all sports bettors may be spending money they need for living expenses instead.

Yet, not all the study’s findings suggest a social disintegration at the seams brought on by the mass legalization of sports gambling in the country. In fact, 93% of sports bettors confirm that the activity is fun and something that they genuinely enjoy. The study also found that for 85% of those people who gamble on sports, this makes the contests more enjoyable to watch, and some 80% admit that they share a belief that they may actually end up earning more.

The survey also points to general trends among American adults, with a record number now set to bet on the Super Bowl. Still, 40% of sports fans think that online betting will corrupt sports contests, said Aaron Chimbel, the dean of St. Bonaventure University's Jandoli School of Communication.

"That said, nearly half the country (49%) supports legalized online sports betting in all 50 states while only 29% call for it being illegal," he added.

Betting ads are actually a very strong motivator and usually result in players pulling the trigger and making a bet. Yet, the survey also wanted to explore the full extent of the potential downsides and sought to hone in on whether people who already wagered knew someone who had developed an issue with the activity to any extent. Some 30% said that they indeed knew people who had at one time, or another seemed to run into trouble with the activity.

The 18% that spent money otherwise earmarked for living expenses are not necessarily the number of people who have an issue with sports gambling in general, but the findings are another worthwhile insight into how bettors are triggered and prompted to make decisions about their gambling habits.

Indeed, some 40% of all sports gamblers have confirmed in the study that they felt shame after losing a bet. The biggest mismatch though comes from the number of sports gamblers who arguably report or admit to a problem – in whatever degree – but have mostly failed to reach out for help.

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