ATLANTIC CITY, NJ – Everyone who goes to Atlantic City to gamble tells stories about how they ‘broke even’ during their visit. It makes you wonder, if everyone breaks even, how are the casinos raking in billions of dollars in profits annually?
That’s because not everyone is breaking even and nobody who gambles wants to come home and tell their friends they lost their shirt.
A report by WalletHub today suggests there’s more to the story. According to the report, New Jersey is the 6th most gambling addictive state in America. We have Atlantic City, slot machines, poker games, lottery, sports betting, and horse racing.
Chances to gamble your money away are seemingly in every corner of the state. New Jersey is also home to one of the biggest online lottery apps, Jackpocket.
It’s no wonder why the state ranks high on the list.
Nevada, South Dakota and Montana are the three most gambling addictive states in America.
“When the business or pleasure gets out of control, gambling becomes a real medical condition. Gambling disorder, as it’s known, affects about 1-3 percent of all U.S. adults,” WalletHub states.
According to the Mayo Clinic, “Gambling can stimulate the brain’s reward system much like drugs such as alcohol can, leading to addiction.”
Addiction can have severe economic repercussions. Despite the gambling industry making a record $60 billion in revenue last year, U.S. consumers suffered a loss of over $100 billion annually due to gambling. Male gambling addicts, on average, accumulate a debt of $55,000 to $90,000, while female addicts accrue an average of $15,000. The majority of addicts cannot repay their debts, leading them to accumulate more debt, suffer from various health issues, lose their jobs, strain their relationships, or even engage in criminal activity.