The industry is only poised to grow from here, not only in revenue, but also likely expanding legal gambling legislation to still-untouched areas of the country as well. 

“When people ask me who’s most addicted to gambling, I usually say it’s the government,“ says Derevensky. “They’re addicted to the revenues that are being brought in by the gambling industry.”

Gambling, anywhere and anytime

 Casinos have long been the face of the gambling industry, but when it comes to sports betting, today’s high-rollers aren’t necessarily resigned to having to trek to the nearest gaming hub or rustle up a trustworthy bookie to play the odds—they just need a smartphone. 

“It used to be that you had to actually transport yourself to a gambling venue,” says Lia Nower, a professor and director of the Center for Gambling Studies at Rutgers University. “Now you have gambling 24/7 on your cell phone. You have a sports book or a casino in your pocket, and you can be sitting there eating dinner with your family, gambling away the house.” 

Still, while some individuals may choose to never roll the proverbial dice, others may only need to be persuaded to give it a try. Simple online sportsbook services like BetMGM or DraftKings make it easy to sign up and start betting, going so far as to offer an array of payment options through various banking platforms like PayPal to ensure both easy payments and quick withdrawals.

But those unfamiliar with the lay of the land could find themselves losing more than expected. Features like microbetting, which involves playing the odds on specific or smaller aspects of a game, or same game parlays, bets on multiple events within a single game, are attractive incentives to both newcomers and seasoned gamblers, though each risky in their own ways. Same game parlays, for instance, tend to rely heavily on your powers of prediction, and if a single leg in the bet is wrong, the entire wager is lost. 

“The overall majority of [the] sports betting handle is taking place online,” says Joe Maloney, the senior vice president of the American Gaming Association (AGA), a national trade group that represents the U.S. casino industry. “Obviously that’s reflective of operators in the legal and regulated market meeting consumers where they are increasingly in today’s society.” 

The ubiquity of virtual betting doesn’t mean in-person gambling has gone away—in fact, more than ever, opportunities can be found almost anywhere you spend free time—including bars, bowling alleys, and sports venues. Even restaurants have since opened their doors to popular kiosk-style gambling machines, all hoping to get in on the action. 

Who is gambling—and when does it become a problem?

The majority of sports bettors tend to be young male adults, but according to the AGA, the market has been quickly diversifying since the repeal of PASPA. 

In 2023, according to the association, 6 percent of sports bettors were between 21-24 years old, while 34 percent were between 35-44 years old. The same data suggests that 64 percent of sports bettors in the same year were male.