Sports Betting During the Pandemic

Sports+Betting+During+the+Pandemic

Isabella Winograd, Writer

Sports betting has increased significantly since the start of this pandemic. There are many different websites for sports gambling. Some examples are ‘DraftKings Sportsbook’, ‘William Hill Sportsbook’, ‘Bet MGM Sportsbook’, etc.

Stats

According to CBS news, “About 7.6 million people placed bets on the game through platforms like FanDuel and DraftKings, a 63% increase from 2020. Meanwhile, more than 47 million Americans have placed bets on March Madness, the association said. The number of online bets on the tournament has tripled since 2019.” Forbes also says “The sports betting market in the U.S. generated $1 billion in revenue in 2020, and that number is projected to grow sixfold by 2023. If betting becomes legalized in all 50 states, estimated revenues will exceed $19 billion a year.” As well as this, Daily Sundial states, “For Super Bowl 51, $4.7 billion was spent on American betting, according to the American Gaming Association. This number is actually an 11 percent projected increase over the 2016 Super Bowl gambling totals, which featured the Denver Broncos and the Carolina Panthers.”

Risks

Other than the obvious facts of losing money while betting/gambling, you can also get addicted. Most sports betting organizations are online, which makes it easy to gamble anytime and anywhere. This then leads to addiction, the constant urge to bet your money on something because there is a chance to win. When people develop a betting addiction they are always gambling; this leaves gamblers with less and less money until they win. However, gamblers always have a chance at winning, so they are always putting their money out on the table. 

This addiction to gambling makes families suffer. It is important people clearly understand what you are betting. Always be aware of your money.