This is a bit misleading in my opinion… 90% of the money is returned to the bettors per article.
Which is actually more than I expected and a pleasant surprise to me. I’m glad the USA is no longer imprisoning/fining gamblers, it’s a sin. Haha get it
with the intellectual level they have displayed in the last few years, this is no surprise
Hmm… I don’t recall spending any (possibly a scratcher or two)
I wonder what the breakdown by demographics would look like.
Okay, yeah sure. That looks bad. But how much did those Americans win back?
Handle is gross throughput, not consumer expenditure: over 90% of what is wagered gets returned to bettors in the form of winnings. That $1,000 in bets translates to roughly $100 in average losses per adult.
The market is big, but less than the more clickbaity headline would suggest.
over 90% of what is wagered gets returned to bettors in the form of winnings
As someone who has gambled once or twice, this seems like a wild overestimate.
I’m shocked that so little winds up with the house.
You have to keep your clients thinking that they are almost there, maybe the next hand will be the one, that loss wasn’t so bad… You don’t gut the fish, you slowly raise the temperature.
I would guess the mean and the median are very different. How many people taking out a mortgage on their house does it take to counteract a hundred grannies playing the penny slots?
My vices are many but thank god gambling isn’t among them.
This makes me sad. =(
Well, look at it this way. This is only sports betting, and doesn’t include other forms of gambling like casino betting, crypto, day trading, art speculation, etc.
That’s about $553.33 each. Somebody else is def. carrying my share, ya wanna bet?
