RICHMOND — Football season has begun and runs from September through February. The sport is projected to bring in $35 billion in legal wagers this season, according to the American Gaming Association.
According to the latest information on Virginia Lottery games, this is one of the most popular sports betting options in Virginia. Sports betting began in Virginia in 2021. Approximately $69 million in taxes were generated in fiscal year 2023, according to a congressional report.
That revenue is piling up coffers totaling billions of dollars in U.S. states.
According to a 2023 report from the American Psychological Association (APA), more people are now gambling on sports, and the fastest growing group of gamblers are people in their early 20s. Nearly two-thirds of youth ages 12 to 18 report having gambled.
According to the APA, experts are concerned that early exposure to gambling can lead to gambling addiction and increase the risk of psychological distress.
Representative Paul Tonko (D-N.Y.) and Sen. Richard Blumenthal (D-Conn.) recently introduced legislation to address problem gambling, known as the Safe Gambling Act.
The bill calls for a 12-month national study to better provide data on the scope of “gambling problems and gambling-related harms experienced by individuals who engage in online sports betting.”
Qualified researchers collected the data and this study is not sponsored by the gambling industry. According to the bill, the findings will be made available to the public.
The bill also proposes a national self-exclusion list that would allow individuals to restrict sports betting operators from placing sports bets, as well as a process for individuals to add or remove themselves from the list.
Sports betting does not require bettors to visit a casino and there are no set opening hours. You can place bets at any time of the day, from your couch or from your mobile phone. Advertising is also unregulated, so people take advantage of sports betting promotions on social media and television.
The Virginia Lottery’s recently released numbers for August show a 30.6% increase over the previous year. Virginia bet more than $416 million in August and won more than $376 million.
Jaleel Patterson, a senior at Virginia Tech, bets several times a week, always on Sunday. “Because NFL season is here.”
He made a profit, but not enough to make it a sustainable income. Sports betting can be enjoyed with friends who enjoy playing competitive games, he said.
“If my favorite team was playing my favorite team, I would gamble and say, ‘Oh, my team is going to beat your team,'” Patterson said. “I feel like it’s more fun when you’re with friends than when you’re alone.”
He said it’s important for bettors to decide what they want to spend and even how much time they want to spend on the app.
“Only play with what you’re willing to lose,” Patterson says.
Brendan Dwyer is the Director of Research at the Virginia Commonwealth University Sports Leadership Center.
“(Sports betting) is a potentially fun activity if done responsibly,” Dwyer said.
He expects the amount of money wagered on sports across the U.S. to slow eventually, but not soon.
“I don’t think we’ve fully penetrated the market,” Dwyer said. “I think we will continue to bring new sports fans a comfortable sports betting experience.”
Dwyer said men under 25 are most likely to be problem bettors, including betting money they don’t have and acting irresponsibly.
“I don’t think this is unique to sports betting,” Dwyer said. “This is something we see in any activity that involves alcohol consumption, drug use, or the regulation of behavior. Sports betting is an extra activity that facilitates such fraudulent activity.”
Sports betting isn’t as emotional as gambling at a casino, Dwyer said. But if a bettor has a special attachment to a sports team, it can become more emotional.
“If you watch a football game without making a bet, you’ll get emotional about how your favorite football team is playing,” Dwyer said. “Sports are generally more emotional.”
Carolyn Hawley is a professor at VCU and president of the Virginia Council on Problem Gambling, which runs the helpline. She is also a former member of the board of directors of the National Council on Problem Gambling.
According to the August newsletter, the helpline received 967 calls from January to June 2024. This exceeds last year’s total of 898 people.
Hawley previously said in an interview with Capital News Service that the age of callers on the state’s helpline is changing, and previously it was mostly older people who had been gambling for years before getting into trouble. It is said that it was.
According to Hawley, signs of a gambling problem can occur when it’s a certain priority in your daily life.
“Do you spend a lot of time thinking about gambling or planning your next gambling activity?” Hawley said. “Are you spending more time gambling than other activities you used to enjoy? Do you need more of it to get the same level of excitement?”
Anyone who believes they have a gambling problem can contact our confidential, toll-free helpline at 1-888-532-3500 or visit our website at https://vcpg.net/ please.
Capital News Service is a program of the Virginia Commonwealth University Robertson School of Media and Culture. Students in this program provide state government coverage to a variety of Virginia media outlets.
