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Gambling becomes America’s favorite pastime as Americans spend more on sports bets than movies, arts, museums, and music combined (fortune.com)

submitted 20 hours ago by return2ozma@lemmy.world to c/aboringdystopia@lemmy.world

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[-] brucethemoose@lemmy.world 2 points 1 hour ago* (last edited 1 hour ago)

In other words, the average American adult placed roughly $1,000 in legal bets on sports last year. 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.

But it does point out the vast majority of the losses are absorbed by 5% of gamblers.

this post was submitted on 28 Jul 2026

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