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The gambling industry in the United States brought in a record $60 billion in revenue last year, and with the Kentucky Derby just around the corner, personal-finance website WalletHub has released its report on 2023’s Most Gambling-Addicted States. The report, along with expert commentary and an infographic on Kentucky Derby facts and history, was released on Monday.
Wisconsin ranked 41st out of 50, with a moderate gambling addiction rate. WalletHub compared all 50 states across 20 key metrics to identify the states where gambling addiction is most prevalent. The metrics ranged from the presence of illegal gambling operations to lottery sales per capita to the percentage of adults with gambling disorders.
According to the Mayo Clinic, gambling disorder, which affects approximately 1-3% of all U.S. adults, can have serious medical consequences, with gambling stimulating the brain's reward system much like drugs such as alcohol can, leading to addiction. The consequences can also be economic, with U.S. consumers experiencing over $100 billion per year in total gambling losses. On an individual level, a male gambling addict can accumulate an average debt of between $55,000 and $90,000, whereas a female addict averages $15,000. Most cannot afford to pay back what they owe, leading to even more debt and potential health issues, job loss, strained relationships, or even criminal behavior.
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While Wisconsin has a moderate rate of gambling addiction, the report highlights the need for individuals and state governments to be aware of the risks and consequences of excessive gambling.
Click here to view the full study via the WalletHub website.
