The Alarming Rise of Sports Gambling Among College Students
Predatory tactics of sports betting platforms has led to a shocking surge of sports gambling addiction among college students with devastating consequences on their mental and financial well-being.
The Facts:
Sports betting has become a widespread phenomenon among Generation Z, with a staggering 58% of 18- to 22-year-olds having placed a sports bet in the past year. In 2018, the modern era of sports gambling commenced when the U.S. Supreme Court invalidated a 1992 federal law that restricted sports betting to specific states and Native American tribal lands. Following this ruling, state legislatures, eager for additional tax revenue, swiftly enacted laws legalizing sports betting. Currently, over 30 states allow sports betting, with many also permitting online wagering.
What has followed is the proliferation of sports betting platforms and their aggressive marketing tactics that have led to a concerning trend of young people becoming financially and mentally enslaved. The rise of legal sports betting has presented both benefits and challenges. On one hand, it has generated substantial revenue for sports leagues, with the NBA projected to receive $167 million from casinos and betting for the 2023-24 season. This influx of funds has the potential to increase athletes' salaries, which could reduce the allure of bribery and other illegal bets among players. Additionally, legal betting companies employ sophisticated monitoring tools to detect and address market manipulations, helping to preserve the integrity of sports.
However, the accessibility and convenience of mobile sports betting have created a perfect storm for young people, who are particularly susceptible to the allure of "free" bets and promises of easy wins. An NCAA survey found that more than 52% of 18- to 22-year-old sports bettors have lost over $50 on a single day, with losses often leading to riskier bets and a vicious cycle of chasing losses. One out of 10 college students is estimated to be a pathological gambler, a far higher rate than the 2-5% of the U.S. general population estimated to have a gambling problem.
"The biggest increases in gambling participation have been among young, educated men," says Keith Whyte, the executive director of the National Council on Problem Gambling, emphasizing that the rise in gambling participation is particularly prevalent among young, educated individuals.
Colleges and universities are struggling to address the issue, as gambling addiction falls between the cracks of existing counseling and substance abuse services. The mental and financial toll of sports betting on young people is significant. "I look at the legalization of gambling like I look at the opioid crisis," says Diana Goode, executive director of the Connecticut Council on Problem Gambling. "I think we're only really seeing the beginning of what's going to happen, especially with our kids with problems." Experts liken the situation to the opioid crisis, with the number of people contacting gambling hotlines doubling since 2019 and the demographic of problem gamblers shifting to include more 20-something males.
"We used to think the problem gambler was a little old lady at the slot machine," Goode said. "Now, it's the 20-something male betting on sports. That is the new demographic of the problem gambler. And I would say 40% of our calls are from that demographic or about that demographic. Because it's not just these kids that are calling, it's their parents."
The proliferation of sports betting platforms will continue because they set the lines for the house to win and own troves of first-party data combined with sophisticated algorithms to keep users engaged. Mobile phones and easy access to loans and credit have exacerbated the problem, as students can gamble anytime, anywhere.
Problem gambling is often correlated with other addictions, mental health issues like anxiety and depression, and an increased risk of suicide. While college students have always gambled, the mobile sports betting apps have found unusual traction on campuses and are creating a new demographic of problem gamblers. Students from low-income families are particularly vulnerable, as they lack the financial safety net to bounce back from losses. The accessibility of mobile sports betting has eradicated the barriers of time and space that once existed, allowing for around-the-clock indulgence and a constant stream of live, real-time wagers. The use of tracking software and targeted advertising further exacerbates the problem, as gamblers are continually followed and enticed to keep betting.
The lack of adequate treatment and support for college students struggling with gambling addiction is also a major concern. Counseling services on campuses often lack the expertise and resources to address this issue effectively, and the stigma surrounding gambling addiction can prevent students from seeking help.
The View:
The unfettered growth of sports betting and its devastating impact on young people is a travesty that demands immediate attention and action. The blatant disregard for the well-being of impressionable individuals, fueled by the greed of sportsbook executives and the acquiescence of governments, is a betrayal of the values that sports are meant to uphold.
These betting platforms are predatory in nature, using sophisticated tactics to lure young people into a vicious cycle of addiction and financial ruin. They shamelessly exploit the vulnerabilities of students, many of whom are already struggling with the financial pressures of college life, by dangling the promise of "free" bets and easy wins. The result is a generation of young people whose futures are being gambled away, their mental and financial well-being sacrificed on the altar of corporate profits.
Federal policy and much more supervision of mobile betting operators are needed to address the problem of problem gambling among young people, as the current efforts by states and online gambling sites are ineffective. Lawmakers and policymakers must act with urgency to rein in the excesses of the sports betting industry, imposing stringent regulations and restrictions that prioritize consumer protection over corporate interests. The deceptive marketing practices, the ease of access, and the lack of effective treatment options must be addressed with the same fervor and determination that were applied to the opioid crisis.
While a total ban on online gambling may be counterproductive, as it could drive the industry underground, the harm caused by online sports betting is quickly outweighing any potential benefits. The current regulatory environment, which purports to prioritize the integrity of sports, is woefully inadequate in protecting the most vulnerable members of society.
The parallels to the opioid crisis are deeply troubling, and the fact that the demographic of problem gamblers is skewing younger and younger is a harbinger of a looming societal catastrophe. Furthermore, educational institutions must take a proactive approach, implementing comprehensive programs to educate and support students struggling with gambling addiction. The current state of affairs, where counseling services are ill-equipped to handle this emerging crisis, is unacceptable and must be remedied.
Sports have long been a unifying force in our society, a source of joy, community, and character-building. The infiltration of sports betting threatens to erode these foundational values, transforming what was once a celebration of human achievement into a breeding ground for financial and emotional devastation. It is time to reclaim the sanctity of sports and protect the futures of our young people, before it is too late.
TLDR:
Sports betting has become widespread among Generation Z, with 58% of 18- to 22-year-olds having placed a bet in the past year.
The legalization of sports betting has generated substantial revenue for sports leagues, but has also created a perfect storm for young people, leading to financial and mental enslavement.
Over 52% of 18- to 22-year-old sports bettors have lost over $50 on a single day, with losses often leading to riskier bets and a vicious cycle of chasing losses.
One out of 10 college students is estimated to be a pathological gambler, a far higher rate than the general population.
Problem gambling is often correlated with other addictions, mental health issues, and an increased risk of suicide.
Colleges and universities are struggling to address the issue, as gambling addiction falls between the cracks of existing counseling and substance abuse service
Know More:
How Online Sports Betting Is Changing The Game
How Online Sports Betting Is Changing The Game - Bloomberg
How a Professional Sports Bettor Really Makes Money
How a Professional Sports Bettor Really Makes Money - Bloomberg
Sports betting boom fuels concerns over problem gambling
Sports betting boom fuels concerns over problem gambling - 60 Minutes CBS News
Raising the Stakes: America's Growing Sports Gambling Addiction
Raising the Stakes: America's Growing Sports Gambling Addiction | CBS News
Insights From:
College Students Hit the (Sports) Books - Wall Street Journal