Nearly 40% of New York residents believe online sports betting is bad for the state.
According to a new Siena Poll released Wednesday, 25% of New Yorkers took part in NY sports betting last year. While 39% believe the industry is not good for the state, 22% believe it is good for New York and a 31% are in the middle.
“Attitudes towards sports betting varies greatly based on one’s participation with online sports betting,” Travis Brodbeck, Siena associate director of data management, said in a release.
Generational gap on NY sports betting
For residents over the age of 50, 46% said online sportsbooks are bad for the state and 29% are in the middle.
“We are seeing a generational gap in those who participate in and support sports betting,” Brodbeck said. “Not only are many young New Yorkers placing bets of their own, but they also view the issues surrounding sports betting through a different lens than older residents.”
The generational gap comes out in the demographics of sports bettors too. Only 12% of those older than 50 have placed a sports bet, while 35% of those under the age have wagered. It also skews toward men 18-49, which saw 53% of that group place a bet.
“Sports betting participation differs greatly by age and gender in New York,” Brodbeck said. “Young adults are more likely than older adults to place sports bets, and men are more likely than women to participate. Sports betting participation is especially concentrated among young men in New York.”
Feelings toward betting ads divided
There is also a divide on how New York residents feel about sports betting advertising.
The poll found that 44% of residents believe sportsbook ads should be allowed during sporting events, while 43% believe they should not be permitted.
More than half of the respondents, however, believe that commenters talking about betting during games is bad.
Survey methodology
Siena University conducted the poll July 1 to 8. The survey was among 814 New York residents through phone, text and an online panel.
Siena said the data was weighted to balance sample demographics from New York’s population from the Census Bureau’s 2023 U.S. American Community Survey.
It has a 3.7% margin of error.
BYU: sports betting hurting investments
A Brigham Young University study found that people are saving less money ever since betting could be legalized by states in May 2018. BYU Marriott School of Business professors Mark Johnson and Jason Kotter recently published a study analyzing transactions of 184,000 households.
According to their analysis, households cut their net investment in brokerage accounts by 20% since legalization began. Rather than seeing a cut in other entertainment spending, the BYU professors saw investments cut to help fund gambling accounts.
“Many people consume sports and feel like they are experts on their favorite teams or players,” Kotter told Phys.org. “This can make them overconfident, leading them to believe they have an informational advantage and a potentially profitable strategy. But very few bettors make money.”
Kotter acknowledged sports wagering is not going away, so more should be done to mitigate the harms of problem gambling and educate bettors on responsible gambling.
