Since the Supreme Court ruling in 2018, which found PASPA unconstitutional, states that have authorized online sports betting are experiencing an uptick in bankruptcy filings, highlighting concerns about the financial ramifications of gambling. As Americans are estimated to place $35 billion in legal sports bets this NFL season, the rising trend of bankruptcies in these states raises questions about the sustainability of such a gambling expansion.
The legalization of online sports betting has led to significant economic activity, but it's also accompanied by a troubling rise in bankruptcy among those engaged in betting activities. The sheer scale of $35 billion projected bets this season may contribute to unsustainable gambling behaviors, prompting financial distress for many individuals who are drawn in by the prospect of winning.
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