Online sports betting is bringing in significant revenue for New Jersey, but it comes with a few challenges. One concern is the harmful effect this could have on Atlantic City casinos which depend on in-person gamblers. Another major concern is gambling addiction.
Impacts of sports betting
The New Jersey state legislature recently held a hearing to determine the impact of New Jersey’s online sports betting. Over 90% of sports betting in New Jersey takes place online. Testimony at the hearing related to both sides of the issue – praising its economic benefits and raising concerns about its potential for harm.
Positive effects on the economy
The Sports Betting Alliance Group consists of sports betting operators who have nearly 90% of New Jersey’s sports betting market. President Jeremy Kudon spoke about the extra revenue and jobs online sports betting has brought to the state.
Christina Renna, president of the Chamber of Commerce Southern New Jersey, acknowledged this but also noted that land-based casinos haven’t rebounded to the levels before the COVID-19 pandemic. She said that the casino jobs at these casinos also need focus, care, and attention.
Responsible gambling concerns
Felicia Grondin, executive director of the Council on Compulsive Gambling of New Jersey, spoke about an increase in addiction problems. While 1% to 3% of gamblers nationwide have addiction problems, the figure is as high as 6% in New Jersey. Calls to gambling helplines have increased since the introduction of online gambling.
Online casino operators stressed that they were committed to making sure players play responsibly. Their employees will contact customers if their behavior shows they could have a problem and offer help. It is easy and convenient for players to pay using digital payment methods. In some serious cases, online casinos will even suspend or terminate user accounts.
Bets on college athletes
There is legislation pending in New Jersey to ban bets on the statistical performance of college athletes. This could help protect them from online threats and harassment. Players have been harassed by sports bettors over their performance, such as not making enough rebounds in a game for bets to win.
Dangers of live betting
Lia Nower, director of the Center for Gambling Studies at Rutgers University, brought up the dangers of live betting. As it is in-the-moment, it can be impulsive, and can also be affected by alcohol use. One of the reasons people drink is because of social influences. Young people may get together to watch the game and place live bets. They may drink too much and bet irresponsibly. Some sports bettors end up having suicidal thoughts and some go through with it.
