Has Sports Betting Gotten Out of Control?

In the course of just a few years, online sports gambling has exploded into a multibillion-dollar business — entertaining millions and generating huge tax revenues. But there’s a dark side...

Nevada used to be pretty much the only place in America where you could legally bet on sports. Then a 2018 Supreme Court ruling made it an option for the rest of the country. As of early 2025, 40 states (and Washington, D.C.) have legalized some form of sports gambling, with 34 of them allowing it online.

To say business is booming is an understatement. In 2018, total sports betting revenue in the United States was around $430 million. By 2023, it had skyrocketed to over $11 billion.

However, all that money the gambling companies are bringing in comes from a surprisingly small number of people. In fact, about 50% of their revenue comes from just 3% of their customers.

And for the 10 million or so Americans prone to gambling problems, research shows that having a virtual sportsbook in your pocket is a recipe for disaster.

???? SCRIPT
???? ADDITIONAL READING
✅ SOURCES
AND MORE at https://kiteandkey.media/4nSURJ5

The world is complicated … but the explanations don’t have to be. ⚡ New videos every Wednesday.

SUBSCRIBE to Kite & Key on YouTube:
https://bit.ly/YouTubeKiteAndKey

FOLLOW Kite & Key on your favorite social channel:
https://www.facebook.com/kiteandkeymedia
https://www.twitter.com/kiteandkeymedia
https://www.instagram.com/kiteandkeymedia/
https://www.linkedin.com/company/kite-and-key-media/
https://www.tiktok.com/@kiteandkeymedia
https://www.threads.net/@kiteandkeymedia