Gambling online? Watch out for these risks, say public health experts

Gambling online is more accessible than ever.

Online betting is more accessible than ever, with 14% of U.S. adults saying they bet on professional or college sports online either frequently or occasionally, according to a February poll by The Associated Press-NORC Center for Public Affairs Research. It’s also in the news, with a growing list of sports betting scandals making headlines.

Public health advocates and personal finance advisers say it’s important to know the risks if you’re going to gamble online.

“Gambling and ‘responsibly’ seem to be oxymoronic, because if you’re gambling it’s all about risk,” said Caleb Silver, editor in chief of personal finance site Investopedia. “But people still do it. Online gambling and sports betting are only becoming more popular.”

Since the Supreme Court struck down a ban on sports betting in 2018, 38 states and Washington, D.C., have legalized gambling, according to the American Gaming Association.

For those new to online gambling, it can be helpful to set limits in advance on how much you’re willing to lose and how much time you’re willing to spend. Many of the platforms and apps that offer gambling, such as FanDuel and DraftKings, include optional safeguards to limit time or losses. Other apps can block access to the platforms for set amounts of time.

Here’s what to know: