Key Takeaways
- Seven of the largest U.S. sports betting companies have formed the Responsible Online Gaming Association to promote responsible online gaming and address problem gambling.
- The group includes BetMGM, bet365, DraftKings, Fanatics, FanDuel, Hard Rock Digital, and Penn Entertainment, which together account for more than 85% of the legal online sports betting and iGaming industry.
- Sports betting is either legal or in the process of being legalized in most of the U.S.
- Sports betting has become a massive industry that has attracted scrutiny of its impact on sports leagues and their fans.
Seven of the largest sports betting companies in the U.S. are joining forces to create a new trade group, the Responsible Online Gaming Association (ROGA), the companies announced Wednesday.
The group includes BetMGM (MGM), bet365, DraftKings (DKNG), Fanatics, FanDuel (FLUT), Hard Rock Digital, and PENN Entertainment (PENN), which together account for more than 85% of the legal online sports betting and iGaming market in the U.S. The companies have pledged at least $20 million in total to fund the group, which will work to promote responsible online gaming and address problem gambling as sports betting becomes more widely legalized and the industry grows.
The group will work to “drive both consumer and industry responsible gaming education and awareness,” as well as fund research on the effectiveness of responsible gaming policies, the companies said. The companies will also share data to create a database to support information sharing to protect consumers.
“By coming together with a clear set of objectives, ROGA and our members will work to enhance consumer protections and help provide easier and more efficient access to responsible gaming tools for consumers to enjoy the entertainment of online gaming,” ROGA Executive Director and Nevada Council on Problem Gambling President Dr. Jennifer Shatley said in a release.
“Together, our members will work alongside researchers, experts, regulators and stakeholders to promote responsible online gaming and maximize our efforts to support additional responsible gaming education and awareness.”
As the sport betting industry grows, it’s attracted scrutiny of its impact on sports leagues and their fans, with sports gambling commanding recent headlines from “March Madness” brackets to Los Angeles Dodgers star Shohei Ohtani’s interpreter being fired for allegedly stealing millions from the two-time MVP to pay sports gambling debts. Cleveland Cavaliers coach J.B. Bickerstaff recently said he had received threats from gamblers who had gotten his telephone number.
Sports betting is legal or in the process of being legalized in most of the country, and an estimated 2.5 million Americans have a “severe gambling problem,” according to the National Council on Problem Gambling, with another 5 million to 8 million people classified as having a “mild” or “moderate” gambling problem.