America should aim to bet more responsibly, smartly in 2025
Author:
Zach Lutz
Reviewed by:
Published:
Dec 30, 2024
,
09:36 p.m.
ET
Key Points
Parlays account for around 70% of wagers on top platforms like FanDuel, with sportsbooks “hold” rate at a staggering 20-25% for these bets.
"Chasing losses" is a prevalent issue among problem gamblers and is often linked to financial distress and emotional struggles.
The Responsible Gambling guide emphasizes budgeting, tracking and education to foster healthier betting habits.
Birches Health offers specialized teletherapy for gambling addiction, often at low or no cost to patients.
The sports betting industry in the United States continues to expand at an unprecedented rate, fueled by advancements in technology and increased accessibility through legalization. With just a tap on a smartphone, bettors can access live odds, games and promotions across multiple platforms. While this convenience is exciting for some, it also brings significant challenges, such as rising gambling addiction numbers and unhealthy betting behaviors. As we reach the quarter-century mark in 2025, it’s necessary to address these issues and promote more responsible betting practices nationwide.
Takeaways from 2024
Gambling addiction figures rising at alarming rates
American sportsbooks are closing in on taking more than $130 billion in bets in 2024, which would be an 8% increase from 2023. September 2024 was Nevada’s most lucrative month of all time as sportsbooks raked in 80.9 million in revenue.
In 2023, the National Council on Problem Gambling announced that the risk of gambling addiction surged by 30% from 2021-2023. In 2024, more states with legalized gambling reported increasing calls to their helplines.
Even more concerning is the growing number of young male sports bettors seeking treatment for gambling addiction. At Birches Health, clinicians have observed a significant increase in this demographic, underscoring the urgent need for targeted education, prevention and intervention strategies.
This falls in line with recent New Jersey data, which showed that 100% of “recent calls” to their gambling helplines came from individuals ages 25 and under and predominantly male. Overall, there has been a 277% increase in outreach to the helpline in New Jersey since the Garden State legalized sports betting in 2018, with the largest demographic being men 34 years old or younger.
In other states, we’ve seen similar trends:
Virginia: 973% increase in the number of helpline callers between 2019 and 2023
Ohio: 227% increase from January 2022 to January 2023
Florida: 138% increase in first 2 months
Massachusetts: 121% increase from July 2022 to June 2023
Unfortunately, this enlightening information is not too surprising given the research into U.S. sports betting demographics. 39% of sports bettors are under 35 years old, 69% are male and 44% earn more than $100,000 annually. The consequences of unchecked gambling extend far beyond financial losses. Problem gambling often leads to strained relationships, mental health struggles and even criminal behavior.
Economic Costs
Problem gambling costs the U.S. $14 billion annually in social expenses, including criminal justice, healthcare, job loss and bankruptcy. Alarmingly, 90% of problem gamblers relapse, highlighting the need for ongoing support.
The increasing popularity of parlays in the U.S.
Parlays, including the popular Same Game Parlays, are driving a large part of the sports betting boom in America. In 2023, parlays accounted for 70% of all NFL and NBA wagers on top platforms like FanDuel, marking a 65% increase since 2019. In September 2024, New Jersey sportsbooks reported that parlays made up 32.2% of betting handle and 72.5% of gross revenue.
The "lottery ticket" appeal of parlays – turning small wagers into potentially massive payouts – mirrors the lure of state lotteries. However, bettors face long odds: Illinois bettors placed 194.6 million parlays in 2023, generating $580.5 million in revenue for sportsbooks, with only a 17.74% success rate.
Sportsbooks heavily promote parlays with celebrity endorsements, pre-built “quick picks,” and flashy ads. Yet, parlays are not a smart long-term strategy for bettors. Sportsbooks thrive on high "hold" percentages from these bets – around 24% for parlays compared to just 4-5% for single bets. The math overwhelmingly favors the house, and the odds of success plummet with each additional leg. If bettors insist on placing parlays in 2025, they should see these types of bets as entertainment only, not a reliable way to make a profit long term.
Too many bettors are “chasing losses”
One of the most prevalent gambling issues reported by clinicians at Birches Health is the at-risk behavior known as "chasing losses." This is when bettors attempt to recover past losses by placing larger or additional bets, often leading to a dangerous cycle of unforeseen losses and emotional distress.
Research links this behavior to alexithymia, a condition characterized by difficulty in processing emotions. Studies show that individuals with alexithymia are more prone to compulsive gambling as they externalize their problems rather than addressing internal emotional struggles. Chasing losses is the most common at-risk behavior observed among problem gamblers at Birches. Addressing this issue is critical for promoting healthier gambling habits in 2025.
Guide to betting more RESPONSIBLY in 2025
As sports betting continues to evolve, prioritizing responsibility and self-awareness is vital. If you are going to bet, these are some actionable tips to help make better, healthier decisions:
Familiarize yourself with different types of odds – decimal, fractional and money line. Learn about implied probability to assess the true likelihood of an outcome and make informed decisions.
Only wager money you can afford to lose. Separate your gambling funds from everyday expenses and stick to a predetermined budget, no matter what happens.
Keep a record of your wins, losses and total spending. This practice promotes transparency and helps identify patterns that may signal risky behavior.
Losses are inevitable in sports betting. Doubling down to recover them often leads to more significant financial stress. Treat losses as part of the experience and move forward responsibly.
Parlays might seem exciting with their potential high payouts, but they are much riskier. Stick to single bets for a more consistent and strategic approach.
Go beyond basic stats. Dive into team performance, player matchups, injury reports and even weather forecasts. Informed decisions are always better than relying on gut feelings.
While live betting can be thrilling, it comes with heightened risks. Set strict limits before you start and avoid impulsive decisions driven by rapidly changing odds.
Only bet on licensed, regulated platforms. Look for sites with strong user reviews, clear terms and conditions and reliable payout systems.
Analyze the fine print of bonuses, including wagering requirements and restrictions. Generous offers can sometimes come with hidden drawbacks, so ensure you know what you're agreeing to.
Use features like spending limits, self-exclusion options and activity trackers. If you feel overwhelmed or gambling affects your well-being, seek professional help immediately.
Know where to turn: Specialized gambling addiction care
For some individuals, achieving responsible betting requires professional intervention. Gambling addiction is a complex challenge, but recovery is possible with the right resources and care.
Birches Health offers specialized teletherapy treatment for gambling addiction, providing confidential sessions with licensed counselors. With most treatment costs covered by insurance or state funding, help is accessible for anyone ready to take the first step.
If you or someone you know is struggling to control their gambling, reach out to Birches Health by clicking here to book a consultation, calling (833) 483-3838, or emailing hello@bircheshealth.com.
