"The American sports betting industry posted a record $13.71 billion in 2024 revenue, up from 2023’s record of $11.04 billion, according to the American Gaming Association’s annual report issued Wednesday." This is going to end so badly. - ThreadSky

edburmila.bsky.social • 2 days ago

"The American sports betting industry posted a record $13.71 billion in 2024 revenue, up from 2023’s record of $11.04 billion, according to the American Gaming Association’s annual report issued Wednesday."

This is going to end so badly.

Comments

themikewallace.bsky.social•2 days ago

We’re getting dumber by the hour. Trump is the perfect carcicature of the country. Stupid, selfish and arrogant.

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joebaldwin.me.uk•2 days ago

We’re living the dream of rampant gambling here in the UK and I don’t think “unalloyed good” is quite the term I would use to describe it, no

irontuna.bsky.social•2 days ago

America saw a kid on a bike outside the otb waiting for his dad to come out and said

sharktopussy.bsky.social•2 days ago

I hate the ads for these apps, and the people in them.

I've been bombarded with these ads, it shouldn't be legal.

cmerit13.bsky.social•2 days ago

Pairs well with this.

https://wallethub.com/edu/cities-with-the-most-people-in-financial-distress/133346

vegasjohnny.bsky.social•2 days ago

And yet I still can’t play the lottery in Nevada.

candystrata.bsky.social•2 days ago

I recently saw stats that in 2025 some kids will graduate university with more gambling debt than student loans.

burningpants.bsky.social•2 days ago

I've lived all my life in a country where betting is legal,yet have only twice put a bet on. Once for a chum and once where a friend was having a bet so I had one too, with the loose change in my pocket. Gambling is harmful like smoking. So to see multi millionaires hawking it is distasteful.

sidewalkslam.bsky.social•2 days ago

West Virginia legalised little hole-in-the-wall slot machine places as the last gasp of the coal industry collapsed in the and now it's probably the worst off state of all 50 economically. It's the vampire coming in to take whatever's left when they've made it impossible to win any other way.

junchoo.bsky.social•2 days ago

Good news is that it’s the crypto Ponzi profits fueling this so there’s no way that money runs out.

klezmerstyle.bsky.social•2 days ago

beating even the 1919 record!

clarityforusa.bsky.social•2 days ago

The impact on professional sports is already obvious.

And the impact on individuals and their families is only going to increase. It’s heartbreaking. Gambling is an addiction.

grandpatz.bsky.social•2 days ago

They definitely have the technology to spot problem gamblers, but instead of stopping them, they just encourage them and make them VIPs. I wish them all a happy bankruptcy.

phaseolus.bsky.social•2 days ago

Assets sucked right out of the economy, most of it never to be seen again

tryingtohelp.bsky.social•1 day ago

It will for the kids now addicted to gambling

brightey.bsky.social•2 days ago

We’ve had an unrestricted industry in the UK for years and the impact is horrific.

When the reigns come off in the US market it’s going to be like the fentanyl crisis x1,000.

edburmila.bsky.social•2 days ago

The UK has a long history with this, right? "Betting shops" on every corner by the 1970s? I wonder if that takes some of the edge off the spread of online gambling - it's not the novelty there that it might be in the USA.

pnlchelsea.bsky.social•2 days ago

There is currently a concerted campaign against gambling in the UK, including at government level. A multi million pound industry has sprung up highlighting the harms .

And the hysteria against gambling in the UK has become ridiculous, quite frankly.

brightey.bsky.social•1 day ago

I’m not sure the widows of gambling addicts who have taken their own lives because of it would agree.

Nobody is calling for a ban but more safeguards are needed.

The current ones are insufficient.

pnlchelsea.bsky.social•1 day ago

We're currently at the safeguarding stage where people are having to provide the kind of financial information normally required to get a mortgage, just to continue betting.

So when do people start to come up with solutions that actually tackle the addiction instead of penalising the majority?

pnlchelsea.bsky.social•1 day ago

Safeguards in place before affordability checks, have been tools to self exclude, deposit limits and a ban on being able to use credit cards to deposit funds. When they inevitably don't work because you're dealing with compulsive behaviour here, the anti gambling lobby push for more.

brightey.bsky.social•1 day ago

With respect, that’s not quite right.

Credit checks for mortgages are much more detailed, though I can tell you’re being hyperbolic.

The KYC checks are pretty lax. I could just lie and say I’m a lawyer on £800k a year. Ladbrokes et al would just believe me.

Your ‘majority get penalised’…

brightey.bsky.social•1 day ago

Betting shops now are basically conduits for roulette machines.

They used to be called ‘the crack cocaine’ of gambling because you could spin $200 every 20 seconds.

You can only have five machines per shop so they just open multiple shops.

Those machines are more heavily regulated now.

brightey.bsky.social•1 day ago

But most bettingis done online.

We don’t have the same state-by-state contradictions: Everyone can bet on any hundreds of markets on any event around the world 24/7 on their phone.

The US prop bet market is actually pretty good. When it descends into our system you’ll have major problems.

shorty-jibz.bsky.social•2 days ago

Prolly make more money if they start allowing people to bet on the future of the U.S.A.

edburmila.bsky.social•2 days ago

Estimates claim as many as 1 in 3 junior high boys have gambled online and some children as young as 10 are regularly using gambling apps.

derrelldurrett.bsky.social•2 days ago

I guess we need to start taking bets on when this will finally collapse in on itself....

October 2026?

atomenthusiast.bsky.social•2 days ago

Going to be thinking for a longtime about how our elites had a national meltdown over kids doing remote school prior to vaccines, but not the entire tech industry coming together to pillage and torture them from the time they’re babies.

morganstringer.substack.com•2 days ago

I don’t know when litigation against sports gambling sites will happen, but I’m willing to gamble that it will.

rootrot1519.bsky.social•2 days ago

and if you point any of this out, site and district administration call you hysterical! "focus on what you can control" as they ensure that it is out job to control nothing

eschatonblog.com•2 days ago

not including crypto "investing" which is samesies, really

burdsandwurds.bsky.social•2 days ago

retail day trading too

eschatonblog.com•2 days ago

at least there's usually *something* real underneath listed stocks

burdsandwurds.bsky.social•2 days ago

there is. but, day trading is treated like gambling these days and i see a lot of people sharing a lot of bad information and encouraging behaviors that could lead to getting burned quite easily. it’s not serious investing and it’s financially precarious.

edburmila.bsky.social•2 days ago

You're right, but for the purpose of day trading there might as well not be.

eschatonblog.com•2 days ago

ya access to a margin account fucks the whole thing

717pete.bsky.social•2 days ago

Addiction recovery will be a growth industry.

central146.bsky.social•2 days ago

It's horrendous and replicated in the UK, albeit with lower numbers. But will it end at all? So much money equates to so much political influence.

nominalnews.com•2 days ago

Unfortunately, there is also significant evidence that it does reduce saving as well (i.e. it's not replacing other forms of consumption).

Prize-linked Savings Accounts could be a partial mitigation strategy.

https://www.nominalnews.com/p/sports-betting-investments-costs

jeff-notheotherone.bsky.social•2 days ago

[squid game face slap.gif]

brunhilde2525.bsky.social•2 days ago

Scam economy all the way down.

kduffchicago.bsky.social•2 days ago

I can't wait to go watch the As in Las Vegas with a sparse crowd that's mostly tourists. Gonna drink a $23 beer while I contemplate killing myself because Rob Manfred let a GAP heir failson take a team from a city and make it a sideshow for the sports gambling industry.

emanzaman.bsky.social•2 days ago

Blood-sucking industry

crmeek.bsky.social•2 days ago

Way back when I first read 1984 as a kid, it seemed odd Orwell talked so much about lotteries and the proles' obsession with gambling.

roddlyyours.bsky.social•2 days ago

Stupidity tax

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