Gambling online? Watch out for these risks, say public health experts

3 hours ago7 min read

The digital landscape has fundamentally reshaped the gambling industry, making it more accessible than ever before. A recent February poll from The Associated Press-NORC Center for Public Affairs Research reveals a telling statistic: 14% of U.S. adults now report betting on professional or college sports online either frequently or occasionally.This surge, catalyzed by the Supreme Court's 2018 decision to strike down the federal ban on sports betting, has led to a rapid legalization wave, with 38 states and Washington, D. C., now permitting it, according to the American Gaming Association. However, this convenience comes with heightened risks that public health advocates and personal finance experts are urgently flagging.Caleb Silver, editor in chief of Investopedia, frames the inherent contradiction well, noting, 'Gambling and ‘responsibly’ seem to be oxymoronic, because if you’re gambling it’s all about risk. But people still do it.Online gambling and sports betting are only becoming more popular. ' The core danger lies in the frictionless nature of digital platforms; as Heather Eshleman, director of operations at the Maryland Center for Excellence on Problem Gambling, explains, losses can accumulate with terrifying speed compared to a physical casino, where the act of handling chips or walking to a cashier creates natural pauses.This environment is further complicated by the rise of prediction markets like PredictIt and Kalshi, which allow wagers on everything from election outcomes to the weather, blurring the lines between speculation, entertainment, and gambling. For the individual, the first line of defense is a personal finance principle as old as budgeting itself: set firm limits on both time and money before you even open an app.Silver insists you must know your 'tap out point'—the exact amount you can afford to lose, treating it as entertainment expense, not an investment. Fortunately, platforms like FanDuel and DraftKings have built-in responsible gambling tools, allowing users to pre-commit to limits on deposits, losses, and session times.Eshleman emphasizes the critical timing of this action: 'The goal is to set those limits before you start, because if you don’t set them in advance, they’re not really going to work for you. Once you’re into the excitement of it, you’re not going to stop.' For those needing a stronger barrier, external apps like GambBan and BetBlocker can completely block access to gambling sites. Recognizing a problem is paramount; the warning signs are when gambling begins to cannibalize your life—siphoning time from relationships and work or diverting funds meant for essentials like rent or groceries.Silver, observing a convergence between sports betting, day trading, and crypto, has even begun adding betting terminology to Investopedia, arguing that fundamental literacy is a prerequisite. 'Before anyone even gets an online account, they should be required to know the fundamental terms and rules,' he states, pointing to concepts like the 'money line' and 'parlay.' Ultimately, the mindset is key: enter with the expectation that you will likely lose, and ensure the activity isn't a coping mechanism for stress. Eshleman advocates for healthier alternatives like exercise, socializing, and proper sleep, noting that solitary gambling is a major red flag.The industry itself acknowledges its role; Cory Fox of FanDuel compares their safeguards to a seatbelt, while Lori Kalani of DraftKings likens them to taking an Uber on a night out. Their commitment to a 'social license' underscores that their long-term viability depends on a sustainable, not predatory, model. In the end, navigating this new world requires the same discipline as managing a personal investment portfolio: know the rules, define your risk tolerance, and never bet the grocery money.

#online gambling

#sports betting

#financial risks

#responsible gambling

#public health

#addiction prevention

#featured

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