Sports Betting Gambling Expert Says Gambling Costs More than Its Earnings

A professor from the University of Illinois Urbana-Champaign said that gambling costs are higher than its gains. Supporters of the new law said it will bring millions of dollars into the state’s budget from licensing charges alone.

Also, the gambling expansion will generate more jobs and tax revenue. However, Professor John Kindt said the expenses connected with the treatment of problem gamblers are higher than the benefits the state gets from it. The professor wants lawmakers to reconsider the gambling expansion before they look at bookie pay per head comparison and launch sports betting in the state.

In fact, the American Psychiatric Association considers gambling as the first behavioral addiction. Lawmakers should consider the acceptability and accessibility factors when it comes to problem gambling.

Gambling Costs More for Illinois

With the gambling expansion, there will be slot machines on every street corner. As a result, the state should expect an increase in the number of problem gamblers. In fact, kids and young adults become more vulnerable than the older generation.

The young ones are more electronically savvy. As a result, there’s an increase in the number of problem gamblers among the younger generation. Each addicted gambler costs the state around $13,000 to $65,000 each year.

Kindt told white label sports betting analysts that ten percent of gamblers develop some type of problem. Also, three percent become addicted. Some of the problems connected with gambling include child neglect, bankruptcies, lost work time, and a lot more.

Kindt told sports betting software solution news reporters that people living near gambling facilities spend less on clothing and food. More than a third of them use their children’s education funds, medical accounts, and bank accounts for their gambling activities.

Problem gamblers who don’t get treatment will either end up incarcerated because they steal to continue gambling or commit suicide. Although statistics of gamblers in prison are difficult to gather, the addicting activity is responsible for crimes such as fraud, embezzlement, and theft.