With sports betting now legal in 39 states in the U.S. and nearly $150 billion wagered in 2024, it’s a growing industry. But with different tax rates, markets offered and regulations in different states, there is also a growing concern about problem gambling with all of that money thrown around.
With over 90% of bets in some states (like New Jersey) made on mobile devices, placing wagers is easier than ever – but that also makes it more dangerous than ever for consumers who may struggle with problem gambling.
Problem gambling is defined by the National Council on Problem Gambling as gambling behavior that is damaging to a person or their family, often disrupting their daily life and career. It is a recognized mental health diagnosis and can include some warning signs like:
- Thinking about gambling all the time
- Feeling restless or irritable when trying to stop or gamble less
- Going back to try to win your money back (“chasing losses”)
The most important point is that there isn’t a strict dollar amount threshold that qualifies as problem gambling. When it interferes with aspects of a person’s life, including their job, physical or mental health, it is problematic behavior that should be addressed.
At some point, there likely will be stricter regulations put forth from state regulators on deposit limits, frequency of gambling advertisements and other areas of sports betting. But in 2024, several sportsbooks made a concerted effort to get ahead of and address problem gambling concerns by introducing tools to help their players track spending, net win/loss over their lifetime, and results by sport.
Let’s take a look at how DraftKings, FanDuel and Underdog addressed responsible gaming concerns in 2024:
DraftKings added My Stat sheet
In March 2024, DraftKings released the tool My Stat Sheet – a gaming tool that allows its players to track and interact with their personal gambling stats and “therefore promote responsible gaming,” according to the press release.
Customers can view the time spent on the DraftKings platform, along with their deposits, withdrawals, net win/loss across yearly, monthly and lifetime, and wagers placed.
“Responsible gaming has always been a core priority at DraftKings,” Paul Liberman, DraftKings President of Global Product and Technology, said in the release. “We are constantly innovating to find new ways to apply technology that enhances our responsible gaming initiatives, and My Stat Sheet is an important milestone for us as an industry leader.”
FanDuel Introduces My Spend
In December 2024, FanDuel introduced My Spend – a personalized responsible gaming dashboard that is “designed to help customers track spending patterns and manage their budget,” according to the press release.
Customers are able to view their personal statistics relating to engagement with FanDuel, including how much they deposit and net winnings over certain time periods. The My Spend dashboard also “encourages customers to utilize the existing suite of responsible gaming tools FanDuel offers, including deposit limits and wager limits.” FanDuel developed the tool based on internal research and external research, which revealed players’ interest in personalized insights and a richer understanding of how they were interacting with the FanDuel platform.
In addition to the launch of the dashboard, FanDuel released an advertising campaign encouraging customers to use the dashboard and monitor their betting and deposit habits.
Underdog creates GuardDog fund
Unlike the other bigger operators, Underdog has chosen a different route to address responsible gambling by creating GuardDog – a responsible gaming innovation fund that invests in the “prevention, detection and treatment of problem gaming.”
The investment initiative supports the growth of future startups in the responsible gaming space and looks to help future sports betting and fantasy players have a safer and more enjoyable time playing those games.
Companies can apply to GuardDog and if accepted receive numerous benefits, such as investment from Underdog and connections to top investors and advisors.