In news that surprised even some US iGaming industry insiders, a study released earlier this month has revealed that a staggering 39% of Americans now engage in betting on sporting events across the country.
The results of the study by the Siena College Research Institute (SCRI) and St. Bonaventure University’s Jandoli School of Communication provide a startling realization of how widespread gambling has become just six years after the 2018 Supreme Court ended the federal ban on sports betting.
However, the study’s findings didn’t shock everyone, as it reflects the general trend of the American sports betting industry – a sector that has seen unprecedented revenue growth since the striking down of the ban.
This is to the tune of $10.92 billion for 2023, according to the American Gaming Association (AGA).
While the study disclosed that the vast majority (93%) of gamblers admitted it was fun and exciting to participate in – with 85% saying it also enhanced their enjoyment of sporting events – the results indicate an undercurrent of anxiety about the consequences of the rise in sports betting.
Sports Bettor Demographics
Accompanying the Siena College and St. Bonaventure University survey were insights into the key demographics of online sports betting, concluding the makeup of gamblers are younger, and male.
Among those who engage in sports betting, 33% are men aged 18-34, and 24% aged 35-49, signaling the compelling draw of gambling amongst younger males.
And, although women were less likely to participate, they still made up a significant proportion of the group demographic, with 15% of women aged 18-34 and 12% aged 35-49 admitting to having placed bets previously.
Perhaps most notably, only about 15% of bettors were over the age of 50.
The data also demonstrates the frequency of betting, with 59% of participants declaring they place bets once a week and 24% betting three or more times a week. This is perhaps reflected in the ease with which bets can be made, with the survey also revealing that 91% of gamblers use a mobile app to place their online wagers.
Attitudes Towards Online Sports Betting
Along with the distinctive groupings of the academic survey, the study also sheds some light on the divided attitudes Americans now have towards the online sports betting industry.
While nearly 40% of Americans engage in sports betting, an astonishing 65% believe its prevalence is likely to lead to the creation of compulsive gamblers, which has the potential to affect not just the individuals but conceivably their families as well.
Supporting this argument, the acknowledgment of the emotional consequences of gambling is weighty, with 40% of bettors admitting to feeling ashamed after losing a bet.
Nearly half (47%) of respondents believed online sports betting could infiltrate and corrupt organized sports. As a result of this, an overwhelming number (59%) support calls for stricter regulations to help protect consumers.
Despite all these concerns, nearly half of Americans (48%) are of the view that online sports betting is a “great form of entertainment allowing fans to gamble responsibly” and are in favor of legalizing online sports betting in all 50 states.