The sports betting industry has experienced an unprecedented rise following the Supreme Court's 2018 decision to overturn the Professional and Amateur Sports Protection Act. This allowed numerous states to legalize sports betting, resulting in massive advertising and a surge in wagering. Last Week Tonight's John Oliver addressed these developments, highlighting concerns related to rampant advertising, gambling accessibility, and the social implications, including a notable increase in bankruptcies. The expansion of online betting apps facilitates constant gambling on various sports, even lesser-known ones such as table tennis, prompting a reflection on responsible gaming practices and industry regulation.
Over the last several years, no gambling vertical experienced as big of a rise in popularity as the sports betting industry.
Sports betting companies spent over $430 million on national TV ads last year, and they can do that because this is now a massive industry.
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