In response to high-profile betting scandals involving athletes, seven of the largest U.S. sportsbooks have formed a trade group called the Responsible Online Gaming Association. The goal of this new association is to promote responsible gambling and share best practices and information about customers who have been banned from their platforms due to problematic betting behaviors.
The rise of sports betting in the U.S. has led to significant increases in legal wagering, with Americans wagering nearly $120 billion on sports in 2023, a 28% increase from the previous year. This trend is also impacting fan engagement, as people are now watching games until the end to see if they win or lose money.
Kenneth Shropshire, a sports business expert at Wharton, highlighted the importance of addressing perceptions surrounding irresponsible gambling and addiction, as well as athlete betting scandals that can tarnish the integrity of sports. The formation of the Responsible Online Gaming Association is an effort to enhance consumer confidence in the industry and promote responsible gambling practices.
Economist Victor Matheson from the College of the Holy Cross pointed out that while the sportsbooks participating in the trade alliance are aiming to promote responsible gambling, their main goal is to maximize revenue. By implementing internal rules, they may be seeking to preempt stricter regulations from state governments. Through this partnership, these companies are walking a fine line between profitability and ethical responsibility.
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