Last year, Americans legally wagered $148 billion on sports betting, a 24% increase, revealing the nation's gambling trend. However, concerns over gambling addiction, especially among young men, have surged. High-profile scandals have triggered lawmakers, particularly in New York, to consider stricter controls on betting limits and advertising. Federal regulations are also being contemplated. Meanwhile, the push for online casino legislation has stalled, leaving the industry seeking growth avenues, particularly in betting predictions and new markets, as 2025 approaches a pivotal point for regulation and consumer protection in gambling.
Culturally, there's been a growing sense that maybe the expansion of gambling 'was too much too fast,' Chris Grove, a prominent industry investor with Acies Investments, told Business Insider.
Some lawmakers have sought to rein in gambling companies. New York, which took more money on sports bets than any other state last year, is considering new guardrails on how much a person can bet in a day.
Several industry insiders said it feels like these issues, which have been brewing for the last year or more, are all coming to a head in 2025.
Meanwhile, expansion of online casino legislation has screeched to a halt, leaving operators wondering where their next phase of growth will come from.
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