Americans Spent Over $30 Billion on Sports Betting in Q3, Up 30%

On December 17, the U.S. Senate Judiciary Committee convened a public discussion on the impacts of legalized sports betting across states. According to Next.io, the event brought together lawmakers, sports officials, and healthcare professionals to weigh in on the issue.

Illinois Senator Dick Durbin highlighted the industry’s exponential growth, noting that Americans wagered over $30 billion in the third quarter of 2024 — a 30% increase compared to the same period last year.

Meanwhile, advertising spending by bookies has also seen a significant rise, with projections for 2024 suggesting operators will spend approximately $1.3 billion on marketing. This trend has sparked concerns about the potential negative effects of such advertising on vulnerable groups.

Keith Whyte, Executive Director of the National Council on Problem Gambling (NCPG), pointed out that an estimated 9 million Americans currently face gambling-related issues.

He cited aggressive advertising and technological advances, including AI, as key contributors to the rise in problem gambling, warning about the normalization of betting culture among young people due to highly targeted marketing.

Former Massachusetts Governor and current NCAA President Charlie Baker addressed the harassment of athletes by bettors. Baker estimates that 10–15% of Division I athletes have faced abuse or threats tied to betting outcomes. He suggested that the inclusion of performance-specific bets on individual athletes is a major factor driving this issue.

To tackle the concerns raised during the Senate discussion, participants proposed several actions:

• Retaining state-level regulation of the industry;
• Implementing federal measures to prevent gambling addiction;
• Prohibiting bets on individual player performances nationwide;
• Strengthening enforcement against illegal operators.