(InvestigateTV) — Sports betting is on the rise across the country as more than two dozen states now allow online gambling.

According to a NerdWallet survey, one in five Americans says they bet on sports in the last year, and the average gambler spent several thousand dollars. But experts say those wagers can quickly get out of hand and tip over into addiction.

“The addiction takes hold of you, and you can’t really control it,” said a longtime Arizona sports bettor who asked to have his identity disguised.

He doesn’t want to hide what he went through, betting on games every week for more than five years, losing tens of thousands of dollars.

“I didn’t feel like I needed help, didn’t feel like I had an issue and it took my marriage being on the line to really open my eyes to fact that I had to correct things in my life,” he said.

He says with all the ads and apps out there, it has become way too easy to place a bet.

“The amount of marketing and advertising they do is overwhelming,” he said.

For the first time ever, NerdWallet took a close look at the explosion in sports betting. Respondents to its survey say they’ve spent an average of $3,284 on gambling in a 12-month time period.

Elizabeth Ayoola, a personal finance writer at NerdWallet, says the survey also found 65 percent of participants say they are doing this to make extra money.

A lot of people said they love gambling. Ayoola says if that’s the case, it’s something you should be budgeting for, so you have a set amount to spend.

“At NerdWallet, we suggest the 50, 30, 20 budget, which is that 50% of your income goes to needs, 30% to wants, and then 20% to debt and savings. So ideally, the gambling money should come out of that 30% bucket, which is your wants in spending,” Ayoola said.

Before you decide to gamble, Ayoola says there are three things to really consider.

First, be aware of your financial snapshot — that’s your income, expenses, assets and debt, so you know your true financial health. Second, set a strict budget. And third, remind yourself of your financial goals.

“While when you win you may earn extra money, people should remember that there are other ways to bring in extra income. So, one of those is considering a side hustle,” Ayoola said.

Addiction specialist Rick Zehr says most people won’t develop a gambling addiction, but for some, the accessibility of sports betting apps can be an issue.

“The problem is that if you’re a pathological gambler, you no longer control the gambling. It’s controlling you,” Zehr said. “While you might put those safeguards in place, you can also take them out of place, and you can continue to gamble in many other ways.”

DraftKings Chief Responsible Gaming Officer Lori Kalani says the gambling company is making efforts for people to game more responsibly.

“We launched something called My Stat Sheet, and that was the first of its kind in the industry,” Kalani said. “My Stat Sheet will show my individual play by time, dollar spent, wins, and losses, and I can look at that over the course of this month, last month, the full year, or the lifetime of my account.”

Kalani said the app also lets users set budgets, time limits, and time reminders while gaming.

“I hear people say, ‘Oh I don’t have a problem gambling, therefore, I don’t need to use your responsible gaming tools,’ and it’s actually quite the opposite. The responsible gaming tools are there to just give people the levers, controls, and setup to keep it responsible,” Kalani said.

For the former sports betting addict in Arizona, he’s not speaking out to tell people to stop gambling. He just wants to warn others how easily it is to get hooked, and that there is help available if your betting gets out of control.

“Be honest with yourself, recognize what you are doing to yourself and people around you,” he said.

NerdWallet notes in its survey, nearly three out of 10 sports bettors say they plan to increase the amount they bet in 2025 compared to 2024, and more than one in five says their significant other doesn’t know how much they spend gambling.

If you’re concerned that you or a loved one potentially has an addiction, the National Problem Gambling Helpline offers free and confidential help.

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