NEW YORK, NY— As bettors poured money onto the New York Knicks during the NBA Finals, a broader shift unfolded beyond the betting window: Americans increasingly view legal sports gambling as a negative force in society.
BetMGM reported a 21 percent increase in betting handle on Games 1 and 2 of this year's NBA Finals compared with the same stage of last year's championship series. Much of that action centered on the Knicks, whose early success transformed the sportsbook's financial outlook for the series.
"Before the NBA Finals began, the Spurs were the biggest remaining liability on the futures market," Christian Cipollini, BetMGM senior trading manager, said. "The sportsbook was initially hoping for a Knicks win, but that has flipped after bettors jumped on New York following their first two wins. Now the series going seven games and the Spurs winning is the best outcome."
The flood of Knicks wagers included a string of large bets from a single bettor, including $200,000 on New York +4.5, $125,000 on Knicks +3.5 and multiple additional wagers ranging from $20,000 to $50,000.
The betting frenzy reflects a larger transformation in American sports.
Since the U.S. Supreme Court struck down the Professional and Amateur Sports Protection Act in 2018, legal sports wagering has spread across much of the country. Commercial sports betting is now legal in 38 states, Washington, D.C., and Puerto Rico.
Since then, Americans legally wagered approximately $120 billion on sports in 2023, a 27.5 percent increase from the previous year.
Yet as betting grows, so do concerns about its consequences.
A 2025 Pew Research Center survey found 43 percent of U.S. adults now say legalized sports betting is a bad thing for society, up from 34 percent in 2022. Another 40 percent say it is bad for sports, compared with 33 percent three years earlier.
Fewer than one-in-five Americans view legalized sports betting as a positive development for either society or sports.
Nearly two-thirds of Americans say they have heard at least a little about sports betting becoming legal across much of the country, up from 56 percent in 2022.
Despite growing skepticism, participation remains steady.
Pew found that 22 percent of U.S. adults placed a sports bet in the past year, a modest increase from 19 percent in 2022.
The biggest growth occurred online, where 10 percent of adults reported using betting apps, sportsbooks or casinos to place wagers, up from 6 percent three years ago.
Young adults remain among the most active bettors.
Nearly one-third of adults younger than 30 reported placing a sports wager during the past year. Black and Hispanic adults also reported higher participation rates than other demographic groups.
According to the American Gaming Association, the broader gaming industry generated $328.6 billion in economic impact during 2023 and contributed $53 billion in federal, state and local taxes. The association says the industry supports more than 700,000 jobs nationwide.
Critics, however, point to mounting social costs.
The National Council on Problem Gambling estimates problem gambling creates roughly $14 billion in annual social costs through health care expenses, criminal justice costs, lost productivity, bankruptcies and other financial consequences.
Research from the St. Bonaventure University/Siena College Research Institute found signs of financial strain among sports bettors.
Among men ages 18 to 49 who reported betting on sports, 38 percent said they had wagered more than they believed they should.
Nineteen percent said they had lied about the extent of their betting, while 18 percent reported losing money that had been intended for other financial obligations.
The Knicks' playoff run might be the prime example of how major sporting events can drive engagement.
BetMGM data shows Jalen Brunson has become the dominant Finals MVP betting choice, attracting 63.6 percent of total handle.
Brunson also leads all players in ticket percentage and represents the sportsbook's largest liability should he capture the award.
Karl-Anthony Towns and OG Anunoby rank among the other leading MVP selections, reflecting bettors' confidence in New York's championship chances.
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