“Much about today’s gambling boom should be celebrated as an expansion of people’s freedom to lead their lives as they choose […]. Freedom is measured not only by freedom of speech and politics, but also by the ability to spend your money as you wish,” says the Economist text.
According to research cited by the Economist, the profile of the average sports bettor in the United States makes the action less financially dangerous for families. They state that 44% of gamblers are young men who earn more than US$100,000 annually.
This financially stable profile of gamblers makes the growth in the number of games less harmful to American society and to gamblers, who are expected to bet almost US$150 billion in 2024, up from US$7 billion in 2018.
Up to US$630 billion is expected to be spent on online sports betting and casinos by the end of the decade.
The growth is not unique to the United States. The Philippines, Poland and China have all decided to regulate the gambling industry rather than ban it.
According to the British magazine, this is a good thing because it reduces the chances of addicted gamblers becoming addicted to an underground market that could potentially put them at risk.
“Criminalizing gambling would deprive tens of millions of people of entertainment and drive the most compulsive gamblers underground, where they would be more vulnerable to abuse,” the publication says.
Source: GMB
