In recent news, seven of the largest U.S. sportsbooks have formed a trade group called the Responsible Online Gaming Association with the goal of promoting responsible gambling. This new association involves sharing best practices and information about customers who have been banned from their platforms due to problematic betting behaviors.
The rise of sports betting is impacting fan engagement, with people watching games until the end to see if they win money or lose it. In 2023, Americans legally wagered nearly $120 billion on sports, a significant increase of 28% from the previous year. Major League Baseball and the NBA are currently investigating high-profile betting scandals involving athletes.
Kenneth Shropshire, a sports business expert at Wharton, highlighted the importance of addressing perceptions surrounding irresponsible gambling and addiction, as well as athlete betting scandals that can tarnish the integrity of sports. The formation of the Responsible Online Gaming Association is an effort to enhance consumer confidence in the industry.
Economist Victor Matheson from the College of the Holy Cross pointed out that while the sportsbooks participating in the trade alliance are aiming to promote responsible gambling, their main goal is to maximize revenue. By implementing internal rules, they may be seeking to preempt stricter regulations from state governments. Through the partnership, these companies are walking a fine line between profitability and ethical responsibility.
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