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The rise of online sports betting has led to significant financial challenges for both bettors and the industry. In states where online betting is legal, the likelihood of individuals filing for bankruptcy increases by 25-30% after three to four years. This trend is exacerbated by worsening odds for bettors and the difficulty many betting companies face in turning a profit. The proliferation of parlays on mobile platforms is cited as a major factor contributing to these issues. Additionally, the legalization of online gambling has spurred the growth of a gambling influencer industry, where personalities can monetize their followings, sometimes leading to predatory behavior.
On the heels of legalization, a gambling influencer industry has emerged. Sports betting personalities can grow and monetize their followings in several ways—and recreational advice can quickly tip into predatory behavior. More ⬇️
Paper saying that when online gambling is legalised there is a big jump in the probability of bankruptcy, As someone who often discusses gambling positively this is worth looking square in the face. Link: https://t.co/TWojWucKhT https://t.co/Oy3jykItO9
Sports betting is not going well--not for bettors (losing more as time goes by, and continually getting worse odds) and not even for the books (many still not reliably turning a profit). The golden age is over. Biggest culprit imo: parlays on phones. https://t.co/UKDhsDfXjj
