New Trade Group Vows to Promote Responsible Gambling in Sports Betting Industry Amid Scandals and Growing Market

In the wake of high-profile betting scandals involving athletes, seven of America’s largest sportsbooks have formed a trade group called the Responsible Online Gaming Association. This new association aims to promote responsible gambling by sharing best practices and information about customers who have been banned from their platforms for problematic betting behavior.

The development comes as Major League Baseball and the NBA are investigating these scandals. According to the American Gaming Association, Americans will bet nearly $120 billion legally on sports in 2023, a significant increase of 28% over the previous year. The rise of sports betting also affects fan engagement, as people watch games to the end to see if they win or lose money.

Kenneth Shropshire, a sports business expert at Wharton, emphasized the importance of addressing perceptions of irresponsible gambling and addiction, as well as sports betting scandals that can undermine the integrity of sports. The formation of the Responsible Online Gaming Association is an effort to increase consumer confidence in the industry.

Economist Victor Matheson of the College of the Holy Cross pointed out that while sportsbooks participating in the trade alliance aim to promote responsible gambling, their main goal is to maximize revenue. By implementing internal rules, they may want to prevent stricter regulations from state governments. Through partnership, these companies walk a fine line between profitability and ethical responsibility.

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