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Sports betting apps prod and entice fans as gambling exacts a growing financial toll
CBS News • • business
Key Points:
- Florida attorney Jennifer Hoekstra has filed 15 lawsuits against major sports betting apps FanDuel and DraftKings, alleging these platforms are designed to create gambling addiction similar to Meta's social media apps.
- Online sports gambling has surged, with $167 billion wagered last year, but studies show increased bankruptcies and problematic gambling behaviors linked to legalized online betting.
- Insider reports and lawsuits claim sports betting companies use aggressive tactics, including VIP perks and targeted notifications, to keep users engaged despite financial harm, raising concerns about predatory practices.
- FanDuel and DraftKings deny fueling addiction, highlighting their investments in responsible gaming tools, customer monitoring, and employee training to promote safe gambling.
- Experts and advocates emphasize that while most bettors gamble responsibly, problem gambling remains a serious issue, with resources available for those needing help.
