What is Sports Betting and Event Wagering?

Apr 21, 2023

Basketball arena where spectators are gathering to watch a National Basketball Assocation (NBA) game and may be betting on sports and wagering on events and the outcome of the game

What is Sports Betting?

Sports betting is a form of gambling where players are able to wager on sporting events (this is also known as event wagering). The most common sports betting is on widely-watched sports and athletic events: this includes baseball, basketball, football, boxing, horse-racing, hockey, college basketball like March Madness, and tennis.  Sports betting and event wagering also expands outside traditional forms of sports though, and can include wagering on events unrelated to athletics including: political contests (Presidential and governmental elections), award shows (the Oscars), and even TV shows (who might win the Bachelor this season!).

Sports betting was initially legalized in the US in a selection of states in 2018 and though many states have yet to implement legal sports betting vendors, there are many opportunities for sports bettors to place wagers. These include legal forms of betting: through a brick and mortar or online betting platform (often referred to a betting agency, bookmaker, or sportsbook), or illegally through an off-shore bookmaker. These vendors offer differing odds on the event wagers that may occur. Common outcomes bettors wager on entail:

  • Moneyline bets (also known as fixed odds or American odds): betting on the selected individual or team to win the contest

  • Over-under bets: betting on the total score of both sides in the match

  • Spread betting: betting on the accuracy of the bettor’s prediction (as opposed to moneyline bets that are normally a binary win-loss prediction)

  • Proposition bets (also known as prop bets): betting on a specific aspect of the game. This can often include how many points an individual scores, who scores first, or even what color of Gatorade a player consumes first.

  • Parlay bets: betting on a collection of wagers that give a larger financial win if all wagers are predicted correctly

Sports betting began in brick and mortar locations, but has since transitioned to increasingly online venues. Now, as well as traditional sports (basketball, football, baseball, etc.), bettors can bet on online board games, video games (also known as esports or egaming). As sports betting has moved increasingly online, so too have gamblers - and the rise of online sports betting has increased the risk of gambling addiction.

Potential Signs and Symptoms of Sports Betting and Problem Gambling Addiction: What To Look For in Yourself and Others

Many individuals who regularly place sports bets and event wagers may do so without realizing the extent of their financial actions. Though many Americans participate in recreational sports betting, for others, this may lead to behavior. Below are some common signs, symptoms, and actions to look for to better understand if your sports betting is increasing to dangerous levels in yourself and others:

  • Wagering more money than one is comfortable losing

  • Feeling the need to bet larger and larger amounts to experience the same emotion

  • Refusing to acknowledge the potential of losing

  • Constantly thinking about sports betting, the next opportunity to sports bet, and plotting how to place another bet

  • Feeling anxious, depressed, and restless when not able to place a sports bet or wager on an event

  • Avoiding engaging with others who want to discuss your sports betting

  • Betting as escapism: to escape problems, feelings of stress and anxiety, or to feel relief from stress, anxiety, depression

  • Losing money, and then immediately betting more to attempt to recover lost money (and losing ongoing bets)

  • Becoming a recluse and distant from friends, family, partners, relatives, or work colleagues

  • Committing crimes (theft, fraud) or lying to cover up your problem

  • Asking others for financial assistance or to help getting out of or paying down a debt

Though often sports bettors who are struggling can feel like they are alone, there are opportunities to get help. If an individual you know is displaying any combination of the above signs, there is an opportunity to seek professional help by reaching out to Birches Health today to speak to a problem gambling specialist or take our gambling quiz to better identify and understand your behaviors.

Sports Betting and Problem Gambling Statistics

Many Americans bet on sports. In fact, sports betting is the fastest growing US consumer market with a 40% CAGR from 2023 2033 (Source). Here are some further statistics on sports betting:

  • In 2022, total sports betting revenue exceeded $7.5 billion (Source)

  • The age group with the largest percentage (%) of sports bettors is thirty and forty year olds (from 30 - 44 years of age). 22% of this group stated they participated in event wagering (Source)

  • 20% of American males said they place wagers (vs. only 7% of females) (Source)

  • 45% of Americans have placed a wager on a sporting outcome at least once in their lives (Source)

  • Why do Americans place wagers on sports or engage in sports betting? 45% said they found it made the games and outcomes more interesting, 33% enjoyed it as a social activity and a way to compete with friends and families, and 29% thought it added excitement and a specific thrill to the games (Source)

  • While only 24% of online gambling happens in casino affiliated platforms and gaming, 45% of online gambling comes from sports betting (Source)

  • Many US sports leagues are popular to bet on: the sports with significant betting interest are entail National Football League (NFL) (61%), National Basketball Association (NBA) (58%), Major League Baseball (MLB) (53%), Boxing (42%), Horse Racing (35%), National Hockey League (32%), National Association for Stock Car Auto Racing (NASCAR) (28%), Esports (23%), Major League Soccer (MLS) (21%), Women’s National Basketball Association (WNBA) (16%) (Source)

How Birches Health is Able to Work with Sports Bettors to Avoid, Prevent, and Treat Problem Gambling (also known as Gambling Addiction, Gambling Disorder, or Compulsive Gambling)

Sports Betting and Gambling Addiction can ruin lives and quickly have disastrous consequences. It can destroy family and friend relationships as well as cause individuals to go into debt and worse. 

As a leading, mission-driven provider of accessible and affordable virtual care, Birches Health ensures sports bettors are able to get the care they need from licensed clinicians. Our providers confidentially evaluate patients, offer personalized treatment plans, and work with you to make sure treatment fits into your day to day.

Learn more about how to stop sports betting and begin your financial recovery.

Managing Gambling Addiction Relapses

Apr 12, 2024

Jonathan

U.S. Sports Betting Statistics April 2024: Legalization, growth & addiction rising

Apr 12, 2024

Jonathan

My Mom Has a Gambling Addiction: What to Do

Apr 8, 2024

Jonathan

Understanding In-Network and Out-of-Network Providers for Behavioral Addictions

Apr 1, 2024

Jonathan

Has America become a “society of gamblers”?

Mar 28, 2024

Jonathan

How Can I Stop My Child From Gambling

Mar 27, 2024

Jonathan

Birches Health Partners with BettorEdge

Mar 20, 2024

Jonathan

Birches Health Announces Partnership with SaharaBets

Mar 19, 2024

Jonathan

Gambling Addiction Rates Hit All-Time High in U.S.

Mar 13, 2024

Jonathan

Signs of Teen Gambling

Mar 13, 2024

Jonathan

Free Gambling Addiction Treatment

Feb 29, 2024

Jonathan

SNL Sports Betting sketch spotlights real Gambling Addiction issues 

Feb 26, 2024

Jonathan

New U.S. Gambling Stats: Record figures as Addiction also grows

Feb 22, 2024

Jonathan

What will be the social costs of increased gambling? Who will pay them?

Feb 19, 2024

Jonathan

Is it Legal to Bet on the Daytona 500?

Feb 16, 2024

Jonathan

Media Takes Note of America's Increase in Problem Gambling

Feb 15, 2024

Jonathan

What are the Psychological Effects of Gambling?

Jan 31, 2024

Jonathan

Is Day Trading Gambling?

Feb 11, 2024

Jonathan

What are the Different Types of Gamblers?

Feb 12, 2024

Jonathan

Understanding Behavior Disorders

Jan 23, 2024

Jonathan

The Gambling Addiction Recovery, Investment, And Treatment (GRIT) Act

Jan 14, 2024

Jonathan

What is the Cycle of Addiction and How to Break It

Jan 9, 2024

Jonathan

I Lost All My Money Gambling. What Now?

Dec 29, 2023

Jonathan

Your 2024 New Year's Resolution: Stop Sports Betting and Online Gambling

Dec 24, 2023

Elliott

Why Do Addicts Relapse?

Dec 20, 2023

Jonathan

Is Gambling a Sin?

Dec 18, 2023

Jonathan

Staging a Gambling Intervention for a Loved One

Dec 13, 2023

Jonthan

Signs of Gambling Addiction in a Spouse

Nov 30, 2023

Jonathan

Gambling and Divorce: Statistics and Information

Nov 26, 2023

Jonathan

What is DFS Gambling?

Nov 19, 2023

Jonathan

Addiction Specialist: Helping You Overcome Addiction

Nov 18, 2023

Jonathan

Exploring the Different Types of Gambling

Nov 8, 2023

Jonathan

Technology Addiction: Signs and Treatment

Oct 30, 2023

Jonathan

Is Options Trading Gambling?

Oct 23, 2023

Jonathan

Gambling Addiction and Treatment

Oct 16, 2023

Jonathan

Sex Addiction Treatment and Therapy Options

Oct 14, 2023

Jonathan

Signs of Gambling Addiction

Oct 7, 2023

Jonathan

Is the Stock Market Gambling?

Sep 25, 2023

Jonathan

Tips for Finding a Gambling Rehab Center

Sep 24, 2023

Jonathan

Cognitive Behavioral Therapy for Pathological Gambling

Sep 23, 2023

Jonathan

What Causes Porn Addiction?

Sep 18, 2023

Jonathan

Video Game Addiction

Sep 16, 2023

Jonathan

Porn Addiction Signs & Symptoms

Sep 11, 2023

Jonathan

Gambling Addiction Withdrawal Symptoms & Signs

Aug 29, 2023

Jonathan

How to Stop Online Gambling

Aug 27, 2023

Jonathan

Does Medicare Cover Gambling Rehab?

Aug 19, 2023

Jonathan

Gambling and Dopamine

Aug 12, 2023

Jonathan

Porn Addiction Counseling

Aug 7, 2023

Jonathan

Is Fantasy Football Gambling?

Jul 24, 2023

Jonathan

Signs of a Day Trading Problem

Jul 19, 2023

Jonathan

Why is Gambling Addictive?

Jul 18, 2023

Jonathan

The Arizona Lottery and Gambling

Jul 16, 2023

Jonathan

Is Poker Gambling?

Jul 15, 2023

Jonathan

Is Crypto Gambling?

Jul 14, 2023

Jonathan

Gambling and Sports Betting Among College Students

Jul 8, 2023

Jonathan

Updates made to gambling disorder across the DSM-III, DSM-IV, DSM-5

Updates Made to Gambling Disorder Clinical Criteria Between DSM-III, DSM-IV, and DSM-5

Jul 8, 2023

Cara Anderson

Combatting Gambling and Alcohol Addiction

Jun 30, 2023

Jonathan

Medication for Gambling Addiction

Jun 27, 2023

Jonathan

The Seven Types of Gamblers: Are You One of Them?

Jun 25, 2023

Elliott Rapaport

10 Questions to Ask If You Think Your Loved One Has a Gambling Problem

Jun 24, 2023

Cara Anderson

Las Vegas - often called the gambling capital of the world

Exploring the History of Gambling in the US

Jun 17, 2023

Elliott Rapaport

Gambling Treatment in Arizona

Jun 15, 2023

Jonathan

Voluntary Self Exclusion to Stop Online Gambling

Jun 15, 2023

Cara Anderson

Does Blue Cross Blue Shield Cover Gambling Treatment?

Jun 13, 2023

Jonathan

Gambling Addiction Hotline

Jun 5, 2023

Jonathan

How to Stop Gambling

Jun 1, 2023

Jonathan

Can Gambling Addiction Be Cured?

May 31, 2023

Jonathan

problem gambler worried about addiction

Why Is Gambling So Addictive?

May 30, 2023

Elliott Rapaport

Medication that can cause gambling

Abilify and Compulsive Gambling

May 26, 2023

Cara Anderson

A man who has regained control of his life by stopping gambling and online sports betting

How to Stop Gambling: Strategies for Regaining Control

May 21, 2023

Cara Anderson

This man stopped gambling by recognizing his online sports betting problem

How to Stop Gambling and Save Money

May 18, 2023

Cara Anderson

People celebrating being free of a gambling addiction

How to Help Someone with a Gambling Addiction

May 16, 2023

Elliott Rapaport

The Growing Phenomenon of Cryptocurrency Addiction: What Traders Need to Know About Crypto Addiction

Cryptocurrency Addiction

May 9, 2023

Tobias Jackson

The stock market graph of a day trader who has a day trading addiction

How Day Trading Can Create a Dangerous Addiction

May 4, 2023

Elliott Rapaport

Younger individuals gathered around a computer talking about a gambling addiction meme

How Addictive Memes Have Fueled Problem Gamblers

May 2, 2023

Elliott Rapaport

Man in the middle of taking a Do I have a Gambling Problem Quiz

Clinical Screening Tools and Quizzes to Answer the Question: "Do I have a Gambling Problem?"

May 1, 2023

Tobias Jackson

Insurance paperwork that Birches clients do not need to go through as Birches Health handles all administrative and payment matters for them!

Insurance Coverage for Gambling Addiction in 2023

Apr 29, 2023

Elliott Rapaport

Couple hugging as the man has a gambling addiction and the woman, his loved one, is able to support him through it.

Helping a Loved One with a Gambling Addiction

Apr 27, 2023

Cara Anderson

Man actualizing self care and manifesting his recovery journey from problem gambling and gambling addiction

Self Care for Problem Gamblers

Apr 26, 2023

Cara Anderson

Bad effects of glamorization of gambling in the media in films, tv shows, and podcasts

Glamorized Gambling and What To Be Aware Of

Apr 24, 2023

Elliott Rapaport

Therapist offering a problem gambler gambling addiction counseling and treatment

What is Problem Gambling?

Apr 20, 2023

Elliott Rapaport