Growth of sports betting benefits US, AGA CEO says

Neha Soni December 16, 2024

SiGMA news

The president and chief executive officer of the American Gaming Association (AGA) has supported the growth of sports betting and said it benefits America, as reported by Newsweek.

Bill Miller expressed his opinions on the rapidly growing sports betting and provided insight into the association’s view of the market. He emphasised that it is a voluntary entertainment option supported by nine in 10 Americans. This is more notable since the repeal of the PASPA, 38 US states and the District of Columbia have launched some form of betting.

He noted that legal gaming is one of America’s most regulated industries as the government and operators want to ensure that the industry is sustainable. Customers of legal operators have access to a variety of tools that helps them moderate their playtime and protect themselves from risk.

Previously, customers would play with unlicenced black market companies that intentionally disregarded player protection safeguards.

He shunned the idea that legal betting leads to widespread financial hardships, stating that research shows otherwise. Americans are more at financial risks from healthcare and housing expenses than from discretionary spending on entertainment, Miller added.

Small fraction spent on entertainment

Data finds that sports betting represents but a small fraction of all spending on entertainment, with average bettors putting a maximum of $100 on the line in a month. He noted that Americans on average spend about $141 a month on phone bills, $300 on dining out, and $734 on car payments.

Miller recognised that a small portion of bettors experience gambling problems. However, the legal market invests almost half a billion a year towards the study of gambling addiction and creation of better responsible gambling tools.

He reiterated that the expansion of betting is good for America due to the significant tax revenue it generates. Another plus point is that bettors have a legal outlet to entertain themselves and do not have to venture towards dangerous offshore companies.

“At its core, legal sports betting reflects a trust in the ability of American adults to make informed choices about how they engage with entertainment.

“The vast majority of sports bettors participate responsibly, enjoying the excitement and camaraderie that come with rooting for their favorite teams,” he said.

He believes demonisation of the industry based on a few worst-case scenarios is counterproductive. The US should instead focus on minimising harm and bringing out safer gambling tools.

The AGA CEO said that legal betting is not a “societal ill or a threat to the fabric of America” but a great success story that would flourish if regulated within a proper framework.