Sports Betting On The Rise

The business of betting is booming in the U.S. In 2022 Americans legally bet 27 billion dollars on sporting events. In 2023 that number rose to a staggering 120 billion dollars, a 345% increase. The question that is being asked across the country: What caused this boom?

Sports betting was legalized in the U.S. in 2018, and Americans gambled 400 million dollars that year. To put this in perspective, Americans' gross earnings, or winnings, alone grew to 10.2 billion dollars in 2023.

There are two main reasons for this dramatic increase. The first is the fact that online sports betting has been legalized in 36 more states, in addition to the original state (Nevada). The second is that the younger generation has taken an interest in this activity because it enhances the excitement of rooting for their favorite teams or challenges their skill in evaluating the strengths and weaknesses of different teams . While sports betting is illegal for minors, they can still place bets under the name of a parent or an older sibling. Most bets by minors are modest so the monetary risks are insignificant.

It is impossible to avoid exposure to sports betting because no matter what a person watches or listens to, advertisements are everywhere. Social media stars like Jake Paul have created their own betting platforms and promote them all over the internet. National television and streaming platforms constantly air commercials about betting apps and sites. Even radio stations advertise apps during breaks.

Freshman Gabe Lacassio said “I began sports betting after I saw my brother doing it” and “it has become something fun to do with my brother.” Gabe is able to make a sports bet by giving his brother money who then places the bet.

Sam Bergren, a sophomore at Catholic sports bets through an app called prize picks. Sam said “NBA games that I usually would not watch become interesting when there is money on the line.” Sam also enjoys creating parlays with his brothers and watching the games together.

Butler Alumni Cole McKinstry also bets on sports. Cole said “I started betting through my dads account. We would make one parlay together on the Panthers game every sunday.” He is now the legal age and does not need to use his dads account anymore but he said “We still make a bet on the panthers game on sunday.”