Indianapolis, Indiana – The exhilaration of perhaps winning a sizable monetary sum from a sports wager can come at a steep price.
In the state of Indiana, sports betting generates a monthly economy worth millions of dollars.
“Maybe $700 million or so going into sports wagering every month,” said Ed Feigenbaum, editor of Indiana Gaming Insight.
And younger age groups are becoming more interested in it. The NCAA only recently revealed its research on collegiate students’ involvement in sports betting.
“I think everybody was surprised by the high rate of prevalence of gambling among the 18-22 demographic,” said Feigenbaum.
It revealed that 51% of women and 2/3 of men have bet on sports, with most of their wagers falling between $10 and $20.
“Anywhere between 90 and 95% of the sports wagers in the state are placed on a mobile application,” said Feigenbaum.
Due to how accessible betting applications are, experts warn that more people are at risk of developing an addiction.
Indiana legalized sports betting in September 2019. The National Council on Problem Gambling reports a 30% increase in gambling addiction since then.
“A gambling addiction can be so strong because the payout, if you will, it is not continuous,” said Kimble Richardson, a licensed Mental Health Counselor at Community Health Network.
According to Richardson, there should be greater education about the prize’s gold rush.
“I think it is too easy to access, and we don’t have enough education and measures in place to alert people that it might be a problem,” said Richardson.
The Indiana Council on Problem Gambling has resources to assist if you or someone you know needs assistance.
