Bloomberg published a piece examining the spending of sports bettors in Massachusetts since the state legalized online gambling. The focus on deposits attempts to show how a small group of bettors accounts for a large portion of sportsbook revenues.
However, there are plenty of assumptions made and a lack of examination of the causes behind the heavy gambling losses.
In an analysis of 2,441 sports bettors, Bloomberg found that 149 people placed bets at least once a day on average.
In the first year, these 149 heavy bettors lost an aggregate of $1.82 million, while the remaining 2,292 casual bettors lost $1.73 million. Thus, 6.1% of bettors accounted for 51.3% of the total net losses.
Over the course of three and a half years since Massachusetts launched online sports betting in March 2023, the heavy bettor group racked up average losses of $56,589.80.
