BenFred: Some numbers to know as Missouri embraces legalized sports betting

Few actually earned the phrase as thoroughly as Missouri’s Amendment 2 before it passed last week.

Fitting, perhaps, that those for and against legalized sports betting in the Show-Me State sweated it out into overtime before fewer than 5,000 votes pushed the effort across the finish line and it is set to be implemented next year barring some unexpected longshot recount challenge changing the outcome.

Missourians will be placing legal sports bets and doing so from the comfort of their own couches or even at games via on-site sportsbooks and mobile apps. No more driving across the river to lock in picks. To those who dive in, good luck.

Remember, you’re going to need it.

There’s a reason the revenue earned from legalized American sports betting reached nearly $11 billion in 2023, per the American Gaming Association’s annual report. The bookies, even the legal ones, tend to win big.

I’m not a sports betting hater. I thought the issue belonged in the hands of voters, and now that the majority — barely — says it wants to embrace the trend, so be it. But please be aware of the risks, because continued evidence suggests they are a lot bigger for sports fans, especially for young men.

In sports (and sports betting, for that matter), everything boils down to the numbers. You can bet on them or against them. You can buy them or sell them. But you tend to get into trouble when you misread them.

Here are some numbers that should be digested fully as Missouri becomes the 39th state to legalize sports betting.

10: It’s the percentage of men between the ages of 18 and 30 in the United States who demonstrate behavior indicative of a gambling problem, according to a study done by Fairleigh Dickinson University. That is more than three times the general population.

28: That’s the percentage increase of the likelihood of bankruptcy in states that legalized and enabled online sports gambling, according to research published recently by UCLA and the University of Southern California. The same data showed credit scores and traditional investments in those states dropped while debt collections increased.

58: That’s the percentage of 18- to 22-year-olds who have engaged in at least one sports betting activity regardless of their states’ age restrictions, according to a study the NCAA released in May that queried more than 3,500 people from the age group. The same survey found that 67% of students living on college campuses had bet on sports. The study found age restrictions — Missouri’s will be 21 — did little to stop or slow underage engagement.

60: That’s the percentage self-described “avid” sports fans in America who believe there are too many sports betting related ads shown during sporting events, according to a Seton Hall University poll published in February. Ironically, the same percentage of that group (60%) had placed a sports bet. The ads will keep coming. Why? Because they seem to work.

227: That’s the percentage uptick in calls related to problematic sports betting Ohio’s gambling helpline reported in January 2023 compared to January 2022. The difference? Legalized sports gambling launched in the state in January 2023. The annual increase across the full calendar year was a 56% spike. Nearly two thirds of the calls for help came from males.

2.5 million: That’s the approximate number of American adults who meet the criteria of having a severe gambling problem, according to The National Council on Problem Gaming. It believes four to six million Americans have mild to moderate gambling issues.

119.84 billion: This one is dollars. It’s the mountain of money Americans wagered on legal sports betting in 2023, according to data from the American Gaming Association. That marked a nearly 28% increase from 2022.

Missouri’s embrace of the movement will send the numbers climbing even higher. The winners will continue to benefit. They include not just those who beat the odds with their individual bets, but the teams getting their cuts, the recipients of staggering advertising dollars, and those who cash the tax benefits that will soon flow their way.

The losers? They tend to get overlooked. That doesn’t mean they’re not there.

So, sports fans, please be smart. Parents, talk to your kids, especially your sons. Ignoring numbers you don’t like as if they’re not there is a good way to get burned.