You hear about addictions in mainstream media and perhaps you know someone going through it yourself. Maybe you are even facing challenges of your own. Whether it’s substance abuse like drugs and alcohol, or behavioral addictions such as watching porn and compulsively lying, addiction runs rampant in society. In recent years a new addiction has been quietly becoming more prominent than you probably realize, and little light is shed on it. I’m talking about sports gambling. In a matter of only a few short years it went from illegal in most areas of North America to plastered all over your television screens, and even the ads at your bus stop. I couldn’t tell you how many times while I’m watching a hockey game a commercial will come on, advertising a platform to gamble on the game. It feels as though every second commercial is telling me to sign up for Bet365 or get free wagers on Betway. Even on the overlaid ice and board ads they’re advertising it. It begs the question as to what caused this shift? The short answer is revenue.
Americans are spending more on sports betting than on investment, total monthly wagers have reached $14B pic.twitter.com/WVOdlmMqxL
— My Mixtapez (@mymixtapez) August 27, 2024
The sports betting craze has even made national headlines recently as people across America have been pulling money out of the stock market and putting it into gambling on their favorite football team. Aside from the legalizations and a few ads what has caused the sudden rise in the market though? I’d answer with the current state of the economical world. People are struggling and looking for any way to make some quick cash, especially the younger demographic. With most regions setting the legal age to bet at 18, kids are now starting to gamble before they’ve even graduated high school. What better way to be introduced into the world of gambling than sports? Sports are a source of hope for many people in their lives when they might not have much else. Especially for younger men and women who are just entering the real world and are potentially feeling lost or hopeless with the current state of the world. Adding the hope of winning money on top of the game and it makes for an appealing impression.
We bet you didn’t know that 1 in 10 college students suffer from gambling addiction. The consequences can be devastating financially and emotionally.
Let’s all draw a line on sports betting. Let’s stay focused on the game, not the odds ➡️ https://t.co/haWkSLPHg6 pic.twitter.com/azwOVceHZM
— NCAA (@NCAA) September 7, 2024
Now I’m no different, and I can tell you firsthand how addicting the thrill of sports gambling really is. As someone who likes to believe they’re quite knowledgeable when it comes to sports, it feels like it should be easy money every time I pick up the app, however that couldn’t be further from the truth. That’s one of the main lies that sports gamblers tell themselves, that we know sports and so it should be easy cash. In reality gambling is gambling and as much as you may think you know, sports are unpredictable for a reason. It’s what makes them worth watching in the first place. Moreover the ability to gamble is so accessible. The days of having to travel to the casino are over, and you can place a bet at the click of a button on your phone. With most apps having the minimum bet amount set at just two dollars it’s easier than it’s ever been to start gambling your money away. You can even do it mid game, experience the rush of predicting a comeback, or maybe you’re doing it socially with friends who have money on the game. Because of the rise in online gambling, lots of people will now get together to put money on games similar to socially drinking which leads to peer pressure to get involved yourself. If you’ve ever sport bet with a group of friends, you’ll know the image that people will bring up when you’re unsure of locking in a bet.
https://twitter.com/Crelykss/status/1676591777694793728
According to the National Post the number of people signing up for sports betting has been nearly doubling every year since 2020. On top of the mainstream marketing these apps use, they also consistently offer promotions to bring new customers in daily. Some of these offers include a free first 25 dollars to give the gambler a taste of what they could be missing, or “Bet Boost” days where the app will automatically double the bets placed as an incentive for maybe those who are unsure of gambling that day. These apps rely on and make their profit on the addiction of the vast majority of sports gamblers. That in itself is an issue that isn’t talked about enough. The way sports gambling ads are shoved in everyone’s face everywhere and that these companies rely on our addiction. That’s the first red flag. The second is that most athletes are banned from gambling as a whole. These same athletes are being paid millions of dollars to promote it on national television to kids. That should be a consumer’s second red flag. Just last year Shane Pinto of the Ottawa Senators was suspended for half the season for gambling on a sport that wasn’t even his own. Doesn’t make a lot sense and seems to be pretty backwards right?
Shane Pinto will be suspended for 41 games after violating NHL gambling rules, multiple sources told Sportsnet. pic.twitter.com/z93zQ7xRfb
— Sportsnet (@Sportsnet) October 26, 2023
One of the bigger problems surrounding the sports betting epidemic is the lack of resources available to addicts. When it comes to substance addictions there are a ton of prominent and readily available resources to help people recover, that gambling and more specifically sports gambling doesn’t have. As put by John Holden, an associate professor of management at Oklahoma State University who studies sports gambling regulation: “Many states naively or some other way went about legalizing sports betting without adequately estimating the costs on problem gambling resources”. The market is moving at a pace that policy makers more than likely couldn’t have predicted. The user count is rising at an unprecedented pace, and the legality and restrictions surrounding it are just as hazy. Are the laws up to the standard they should be? Do you think that 18 is too young to begin gambling? What can be done to minimize the risk of potentially life altering repercussions? There needs to be more restrictions as to who can bet and how, as well as the way it is promoted. As said earlier, many kids are seeing their favorite athlete promote these sports bookies, incentivising them to bet on themselves, when in reality, how mature is an 18 year old kid? Do you think you’d be mature enough to control your gambling at that age, and make responsible decisions? There is a reason why substances aren’t available till you’re older and gambling should be the same. The glorification of it in commercials also needs to be toned down as well as some of the borderline false advertising. Most importantly, help centers for people who are struggling with gambling need to be more accessible and public. We’re living in a time where people are doing anything for extra money, and public pressure is a big factor. As a society it’s important to address these issues and shine light on them. Gambling itself is an individual’s decision, however it needs to be done safely and responsibly. As the market continues to grow, the policies and regulations around it also need to so that we are encouraged and the people closest to us are provided with all the information and tools to be safe.