Problem Gambling Advocates See Problem's With New York's Sports Betting Law
New opportunities to wager on sporting events in New York are raising plenty of red flags, according to a group dedicated to increasing public awareness about problem gambling.
The New York Council on Problem Gambling said they are concerned about the 18- to 40-year-olds who will be recruited every day to join mobile sports betting.
Several sports betting companies are vying to operate in what is expected to be a $470 million industry in New York.
The state plans to set aside $6 million from online betting revenues each fiscal year to combat new and existing gambling addiction.
The council said it won’t even come close to covering what could be a dramatic increase in problem gambling in New York.