Many gamblers will have trusted their money to illegal operators
Sports betting is a fast-growing industry with some stats suggesting it is already worth more than US$100 billion globally with Canada’s share of the market exceeding $2 billion and set for growth of more than 15%.
But with wagers in the lead-up to yesterday’s Super Bowl showing the strong desire of both Canadians and Americans to gamble on the result (no spoilers here!) there is concern about the way bets are made and how gambling can spiral out of control.
The Toronto-based Responsible Gambling Council commissioned Leger research into Ontarians’ plans for Super Bowl wagers and found that 48% of respondents said they intended to bet and that a third had initiated a bet after seeing a TV advertisement for gambling, rising to 42% for those under 44, and to 44% among those identifying as Black, Indigenous, and People of Colour.
Men are more likely to believe they can accurately predict the outcome of sports events due to their knowledge. But this can lead to overconfidence and, when paired with persuasive advertising, can lead to people making larger bets than they can afford.
“Gambling is random but your plan shouldn’t be,” says Sarah McCarthy, CEO, Responsible Gambling Council. “Perceived knowledge of the game, persuasive advertising, and substance use can all influence how we gamble. A smart plan includes being mindful of the illusion of control and remembering that even with sports expertise, understanding the game, players or stats won’t boost your chances of predicting a random outcome.”
Illegal sites
While gambling can become addictive – something advisors can be on the look out for – there is also risk from the way bets are made.
A report from American non-profit Campaign for Fairer Gambling estimated that American wagers on the Super Bowl would reach $6.4 billion this year but that $4.8 billion (75%) would be via illegal operators.
The research was conducted by market intelligence firm Yield Sec which estimated that women would be more engaged in Super Bowl betting this year than in 2024, perhaps enticed by novelty bets such as 'Will Taylor Swift be showing a pregnancy bump at the Super Bowl?'
"As an evidence-based gambling reform advocate, I want to understand the truth about the entire online gambling market,” said Derek Webb, founder of the Campaign for Fairer Gambling. “Yield Sec has an exceptional ability to estimate the total market, including legal and illegal participation. This report shows that the illegal industry continues to grow and that legalization proponents are misrepresenting the benefits of legalization. The American economy and American consumers are paying the price."
