LegalShield and IDShield CEO offer legal plans and solutions for individual protection and empowerment. Let me admit that I am a huge sports fan. Sports were a big part of my childhood, culminating in my soccer career, and are still one of my favourite things to do. Like most sports fans, I welcome new developments that make watching sports more enjoyable and appealing. However, there is a new threat that seeks to profit from this enthusiasm regardless of the consequences, and that threat is the online sports betting threat.
You can increase your emotional and financial involvement by watching every game or match and always using your phone, but you can also take dangerous risks. If you watch the game on game day by scrolling through social media feeds, you’ve probably been bombarded with promotional “risk-free” and “no brainer” sportsbook betting opportunities on https://22bet.com.gh/line/Wrestling/. Sports betting is portrayed in your advertising as a fun and easy way to play and socialize with friends, similar to the fantasy soccer league you are in.
But this isn’t a game. It affects millions of people worldwide, and we need more education, regulation, and accountability to keep people safe. We should not wait for an issue with online sports betting to arise, but rather encourage operators and the government to take proactive measures.
Profits are high, and there are few rules in place.
Since the Supreme Court overturned a federal sports betting ban in 2018, each state has the option of legalizing it. To date, 25 states and the District of Columbia have done so, and many will benefit from the newly formed legal industry.
This year, 23.2 million Americans have announced plans to spend $4.3 billion on the Super Bowl. 7.6 million people said they would bet online, a 63 percent increase from the previous year.
By 2020, the sports betting market in the United States https://22bet.com.gh/line/Wrestling/ had generated $1 billion in revenue, more than six times what was expected by 2023. If sports betting is legalized in all 50 countries, annual sales will exceed $19 billion. As media and technology start-ups compete for consumer awareness, new multimillion-dollar marketing niches will emerge.
Sport betting benefits many people, but there are few laws and other safeguards in place to protect consumers from disappointing or predatory marketing tactics. And how much will it cost?
Dangerous Technological Crossroads
The National Council for Problem Gaming issued a statement after reviewing more than 140 studies and reports on game addiction and sports betting, stating that “recent research shows that problems with gaming can grow as sports games explode, while mobile and online technologies develop to create seemingly endless wagering opportunities.”
Here are a few highlights from your research:
• Sports bettors have twice the rate of betting problems as other players, and online betting problems are on the rise.
• Online sport betting now accounts for 45 percent, owing to the convenience and privacy afforded by online gambling.
• Mobile sports bettors are more prone to developing a game problem.
• Young gambling problems are more common than adult gambling problems; according to 2018 data, 75% of students have gamed.
If we do not take decisive action now, these problems may worsen as online sports betting becomes more accessible and socially acceptable, particularly among younger supporters.
What will be the next step?
Many sports fans are simply unaware of the dangers of online sports betting. More research on the dangers of financial, mental, and sports addiction is required. This research, in my opinion, should be funded by a direct tax on sports betting income, as well as education assistance and treatment programmes. In the United Kingdom, there is a growing demand for this type of mandatory industry tax to fund the treatment of gambling addiction.
To conclude some selected betting companies such as https://22bet.com.gh/line/Wrestling/, in my opinion, should be allowed to sponsor programmes on ESPS or other influential sports channels that discuss betting odds, spreads, or other gambling data. Operators should be required to disclose harsh facts such as financial or mental health risks, as well as actual winning and losing odds, in the absence of a clear prohibition.