With legalized sports wagering allowed in 30 states and the District of Columbia, networks that specialize in programming like VSiN and Audacy’s BetQL Network are finding their audiences and providing a service they crave.
Coupled with continued advertising from sports books including Draft Kings, Bet MGM, and FanDuel across traditional radio stations in markets where sports wagering is legal, sports betting is showing no signs of slowing down.
These networks and sports books are apt to transparently issue disclaimers and even programs about responsible gaming. Former WFAN New York host Craig Carton was named a Responsible Gaming Ambassador for FanDuel, and even went on a “Responsible Gaming College Tour” last year to raise awareness and educate young adults about the risks of problem gambling. Now hosting a morning show on FS1, Carton still hosts the “Hello, My Name is Craig” responsible gambling show and podcast for WFAN (Saturdays, 9-9:30am).
Two recently released papers add heed to networks and sports books that program and target sports bettors to continue reminding gamers of the possible dangers.
Households in states where gambling was legalized saw significantly reduced savings, as well as lower investments in assets like stocks that are generally considered more financially sound, according to a study by Northwestern University’s Kellogg School of Management. States that legalized sports betting saw their residents’ aggregate credit scores decrease, while bankruptcies increased, the papers show, according to NBC News.
The authors of the papers estimate total monthly wagers have climbed from an average of $1.1 billion per month in 2019 to $14 billion in January 2024.
“While many consumers get real enjoyment from legal gambling, and states benefit in the form of additional tax revenue, there is a corresponding concern that the introduction of sports gambling and the ease at which consumers can now bet online are negatively harming consumer financial health,” UCLA’s Anderson School of Management wrote. “Our paper provides evidence that this concern is well founded.”
“Everyone at FanDuel understands the importance of protecting our customers who are also our family, friends, neighbors, and community members,” FanDuel Group Chief Marketing Officer Mike Raffensperger said in 2021 when Carton, who spent time in prison for running a Ponzi-like scheme to cover his gambling debts, was announced as the company’s Responsible Gaming Ambassador. “Craig’s powerful personal story will help fuel our mission of making sure no bet placed results in hurting a loved one.”
