In a recentreport, the spotlight was cast on the expanding sports betting industry in America. While the industry is experiencing unprecedented growth and profitability, an alarming rise in gambling disorders shadows these successes. Since the Supreme Court’s 2018 ruling, , with six more considering its legalization. This means that over two-thirds of American adults, approximately 164 million people, now reside in a legal sports-betting market.

The American Gaming Association’s report on the industry’s financial performance for 2023 revealed record-breaking revenues for the third consecutive year. The total revenue from reached $66.52 billion, marking a 10 percent increase from the previous record set in 2022.

The sports betting boom is propelled by strategic partnerships involving celebrity influencers, professional sports sponsorships, and media outlets, including television networks, radio, and online platforms. Advertising and marketing campaigns are omnipresent, saturating airwaves and social media sites. Commercials often showcase “risk-free” bets, with former athletes endorsing gambling companies. The advent of online apps has made gambling more accessible than ever. Virtually all betting can now be done from a smartphone. The most popular and straightforward form of sports wager is the money line bet, which is placed on the outcome of a game, match, or race, without any point spread or other factors involved.

Despite the increasing legality and popularity of sports betting, the incidence of gambling disorders is reaching an all-time high. The National Council on Problem Gambling estimates that about 2.5 million adults in the U.S. are severely addicted to gambling, with another four to six million people experiencing mild to moderate gambling problems.

Pathological or “compulsive” gambling is recognized as a diagnosable mental disorder by the American Psychiatric Association and the American Medical Association. It is characterized by an obsession with wagers, an inability to cut down or stop, gambling beyond one’s means, borrowing money to finance the habit, or chasing losses by betting more. Like any other addictive condition, a gambling disorder can have severe impacts on a person’s physical and mental health. Newsweek reported last year that the ease of access to new gambling options has corresponded with an increased risk of serious gambling problems, including addiction. This issue appears to disproportionately affect young male adults. Compulsive gambling habits can lead to escalating loans, credit card debt, and pressure to borrow or steal. Alarmingly, among addiction disorders, gambling has a comparatively high suicide attempt rate.

Several state-wide surveys have shown increased numbers in the incidence and prevalence of gambling disorders since 2018. Nearly every state in the U.S. has seen increased demand in recent years for treatment services related to problems caused by gambling.

Currently, there is no federal funding to treat gambling disorders. However, Senator Richard Blumenthal of Connecticut is advocating for change. In January, he introduced the Gambling Addiction Recovery, Investment, and Treatment Act, which allocates federal funds to help prevent, treat, and study gambling addiction.

Senator Blumenthal is not alone in his efforts. Congressman Paul Tonko of New York was the first lawmaker to formally raise concerns when he introduced the Betting on our Future Act last year. This legislation would ban all online and electronic advertising of sports gambling.

Tonko asserts that ads pose a particularly dangerous “threat to young adults unaware of the risks involved in gambling, and to individuals prone to addiction.” Despite most jurisdictions requiring advertisements to include messages that encourage responsible gambling and helplines for problem gamblers, Tonko believes that the sports betting industry has been operating in a “Wild West, largely unregulated environment,” creating a “massive and growing public health crisis involving a known, addictive product.”

As the U.S. grapples with these issues, many nations in Europe are moving to place strict limits on promotions or abolish gambling ads altogether. The experiences of other countries with legal gambling may offer insights into potential future directions for the U.S. Throughout Europe, government authorities are clamping down on gambling commercials, sponsorships, and the participation of celebrities in ad campaigns.

In the U.K., a country with a long tradition of legal gambling, mobile betting became legal in 2005. However, the U.K.'s Committee of Advertising Practice recently banned betting advertisements featuring former sports stars and social media influencers.

The search for a new CEO can be daunting and unpredictable. This is the situation currently faced by Entain as it seeks to fill its vacant CEO position. As the helm of Entain remains unclaimed, one cannot help but wonder why there isn’t a long queue of ambitious leaders ready to steer the ship. The role has been vacant for months, a period long enough to raise eyebrows in the corporate world. It would naturally be assumed that such a position would be seen as a golden opportunity for those with the right corporate profile, those who thrive in boardrooms, basking in the thrill of leadership.

Yet, the role of CEO at Entain seems to lack the allure typically associated with such high-stakes positions.

The question then arises: Why does the role not seem attractive to suitable contenders? Why is there no line of experienced leaders ready to pick up the pieces, to salvage a sinking ship before it is dismantled and sold off in pieces?

The company, which owns Ladbrokes, has been rebuffed by the former bosses of bookies Coral and Sky Bet in its hunt for a new chief executive.

Entain has already approached Andy Hornby, (pictured above), who now runs Wagamama’s parent company, and Richard Flint, who holds a portfolio of roles, about the job. However, both Hornby and Flint have declined the offer. This comes as no surprise given investors’ demands for a leader with extensive gambling sector expertise.

The longer the CEO position at Entain remains vacant, the more challenging it will become to find a suitable candidate. A potential stigma may already be attached to the role, creating a deterrent for prospective applicants. After all, who would willingly step into a situation where they are expected to clean up and reorganize the aftermath of Jette Nygaard-Andersen’s acquisition frenzy? This daunting task is discouraging potential leaders from taking up the role, explained a corporate finance specialist to The search for a new leader therefore becomes not just about finding the right person, but also about overcoming the perceived obstacles associated with the role, he explained preferring to remain anonymous.

Dan Taylor, chief executive of Flutter Entertainment’s international operations, was also among the potential candidates for the role. However, Entain, which has been under mounting pressure from activist investors because of its poor performance, declined to comment on Friday.

Last month, Entain announced that and be replaced by . The company also ousted Jette Nygaard-Andersen, its former chief executive, late last year.

Entain, which has seen its shares nearly halved in the last 12 months, and other non-core operations. As well as Ladbrokes, Entain owns Coral and a stake in BetMGM, a major US betting player.

Entain has also endured a torrid period as activist hedge fund investors have built an increasingly prominent position on its share register. The company has faced a deluge of regulatory problems, triggering sharp criticism of its governance and business practices.

Shares in Entain has been trading at around 797.4p giving the company a market capitalisation of £5 billion. The future of Entain remains uncertain, but one thing is clear: the company’s next leader will have a challenging task ahead.

In South Korea a stern battle is being waged against the rising tide of gambling. The country’s strict regulations cast a wide net, capturing all forms of gambling activities within their grasp.

Imagine a lone casino, Kangwon Land Casino, nestled on the outskirts of Seoul. This is the only place where South Koreans can legally gamble, a privilege protected under the Special Act on the Assistance to Development of Abandoned Mines.

Yet, the allure of online gambling beckons, with overseas sportsbooks offering a forbidden fruit. But the authorities are vigilant, their watchful eyes ever on the lookout for violations. Recent cases involving online sports gambling rings have led to arrests, a stark reminder of the consequences.

The reach of Korean law is extensive, covering all forms of gambling by South Koreans, both domestically and overseas. However, there’s a twist. Tourists and expats can legally gamble at all casinos in the country, and Korean Law does not apply to non-Koreans while they are abroad, except in the most exceptional of crimes.

The definition of “gambling” might seem elusive, but the Korean Supreme Court has provided clarity. or loss through the wager of property on a game or activity based on chance.

At the helm of this regulatory landscape is the National Gambling Control Commission (NGCC), the watchdog that oversees the gambling industry in South Korea.

Despite these stringent measures aimed at controlling the prevalence of gambling and mitigating its potential negative impacts such as addiction and associated crimes, a concern lingers. Illegal gambling activities, particularly among the youth, persist, casting a shadow over these efforts.

As reported by South Korea is witnessing a concerning pattern as the age of underage gamblers is decreasing, while their numbers are on the rise. The South Korea National Police Agency (KNPA) has recently reported a significant increase in the number of Korean juveniles involved in illicit gambling activities. This alarming trend has prompted law enforcement to devise comprehensive preventive measures.

In the past five years, the average age of teenagers caught gambling has consistently decreased, reaching a low of 16.1 years old in 2023. In the same year, a total of 171 teenagers, aged between 14 and 19, were apprehended under suspicion of participating in illegal gambling. This marked a 2.3-fold increase from the previous year’s figure of 74. Boys constituted a staggering 92.4 percent of these individuals.

The KNPA also revealed that a significant 84.8 percent of the suspects were engaged in online gambling activities, such as baccarat and sports betting. Each game typically lasted only about 10 seconds. Furthermore, 56.7 percent of these individuals accessed gambling platforms at internet cafes, predominantly utilizing computers and smartphones.

Law enforcement authorities anticipate a continued rise in juvenile gambling through smartphones, owing to their easy accessibility and the perception among youth that mobile gambling is merely a casual pastime. However, the police have cautioned that underage participation in illegal gambling could lead to various associated crimes, including instances of school violence and fraudulent activities aimed at securing funds for gambling purposes.

National Police Agency Commissioner Yoon Hee-keun has emphasized the serious threat posed by illegal smartphone gambling to the youth. He pledged to combat youth gambling addiction through intensified guidance and efforts to prevent relapses.

In response to this trend, law enforcement agencies plan to launch awareness programs targeting middle and high school students and their parents. These programs aim to educate them about the hazards of gambling. Additionally, collaborative rehabilitation programs with local counselling centres for teenagers will be established. These programs will provide counselling, medical assistance, and legal support to offenders, offering a holistic approach to tackling this growing issue.

Macau's anticipated surge in visitor numbers during the extended Labour Day break fell short of expectations, with just over 604,000 visitors recorded, as reported across multiple media outlets. This figure represented a daily average of around 121,000, notably below the 130,000 forecasted by tourism officials. 

Last month, the Macao Government Tourism Office (MGTO), a surge in inbound tourism to Macau for the Labour Day holiday.  

Unfavourable weather conditions, including rain and gusty winds throughout the Labour Day break, likely contributed to the lower-than-expected visitor numbers. Particularly severe weather conditions were experienced on Saturday, marked by the issuance of the year's first black rainstorm warning. 

Despite the subdued arrival numbers, the total entries and exits recorded at all of Macau's border checkpoints saw a notable 11.6 percent year-on-year increase, totaling 2.43 million. This uptick suggests continued mobility despite challenges in visitor arrivals. 

The total visitor numbers recorded between May 1 and May 5 accounted for nearly 85 percent of the comparable figures from 2019, marking a significant recovery towards pre-pandemic levels. This trend underscores Macau's resilience in rebounding from the impact of Covid-19 on travel and tourism. 

While Labour Day itself is a single-day holiday in Macau, it extends to a three-day break on the Chinese mainland, which constitutes Macau's primary source of visitors. When combined with the weekend, this creates a five-day vacation period for mainland Chinese travellers, traditionally contributing to increased tourism activity in Macau. 

Despite challenges posed by adverse weather conditions, Macau's ability to attract many visitors during the Labour Day break reflects continued interest in the destination and ongoing efforts towards tourism recovery. 

Meanwhile, starting Monday, a  tailored for Chinese nationals participating in package tours will launch, facilitating travel between Macau and the nearby Hengqin. The initiative, unveiled by China’s National Immigration Administration, enables package tour participants to enjoy unrestricted movement between the two regions for up to seven days. 

Upcoming SiGMA event: SiGMA Asia 2024, 2 – 5 June. Find all the details .