Los Angeles Times

The costs of online betting

Re “The highs and lows of a sports gambler,” March 31

The key passage in your article on sports gambling addiction is this: “[David Leong’s] father paid his bookie $10,000 to settle his account, and Leong declared bankruptcy, absolving himself of $90,000 he owed to various credit card companies.”

A 2022 review in the scientific journal Addiction found that 1 in 400 adults in the U.S. has sought help for a gambling problem, but the actual prevalence of gambling addiction is much higher since the vast majority with a problem don't get help. The Milken Institute has estimated that for every dollar a typical sports bettor wagers, they lose 7.7 cents.

Using Milken’s estimate and the American Gaming Assn.’s finding that legal U.S. sports betting hit $7.5 billion in 2022, the losses for that year alone would be $577.5 million. The associatio­n estimates that the U.S. betting market will be worth more than $40 billion by 2030.

The data are there for legislator­s to rein in online betting immediatel­y before it incurs astronomic­al costs to society.

People who use credit responsibl­y should not bear the costs of bankruptci­es filed by gambling addicts. The costs should be borne by the betting sites and the gamblers. A solution could be requiring sites to have cash-on-hand accounts for each bettor, thus eliminatin­g the use of credit cards. Michael N. Antonoplis

Sherman Oaks

Activities such as gambling and prostituti­on have been around forever. Since we cannot ignore the obvious, regulating them with reasonable laws is the only answer.

As with alcohol, prohibitio­n doesn’t work. Appropriat­e government oversight and taxation do.

I don’t believe my government should be in the business of gambling or prostituti­on. The government-sponsored lottery is a bad example for our citizens, particular­ly children.

Making money at all costs (sponsored gambling) is not a government activity that serves my best interest. Edward Gilbert Studio City

In today’s economic reality for the American masses — with the side hustle being a way of life for many and a bachelor’s degree just a very expensive ticket to the middle class — many young people apparently aspire to lucrative careers as social media influencer­s.

Given this, I have to wonder how many 25- to 34-year-olds view online sports betting as a possible supplement­al income source.

This is us in the year 2024 — Mr. Potter’s America, not George Bailey’s. Greg Melton Kansas City, Mo.