Since its nation-wide legalization in May 2018, there has been a boom in the online sports betting industry. and a steady rise in the number of Americans seeking help on gambling hotlines.
College students and young male sports fans are a particularly vulnerable age group as men 18-24 are most at risk of developing gambling addictions.
“I lost a month’s worth of rent so it was a wake up call,” said a young said man when asked about his sports betting addiction and what got him out.
He was drawn to betting apps through his love of sports. “I love watching sports and who doesn’t love winning extra money? I wanted to test my knowledge of different sports and see if I’d be right and hopefully win some money.” said the young man.
Sports fans would have a hard time avoiding gambling advertising as sports betting sites spend billions to advertise with the NFL, NBA, MLB, and other leagues.
Sports bettors never have to leave home now that they can play via mobile apps. Sports gambling can be done at any time, anywhere through mobile devices — making it one of the most accessible forms of gambling.
Nearly 95% of all people gambling using sports betting apps are losing more money than they are making. Yet many young men view sports betting as a way to make easy money or test their knowledge in their favorite sport.
Many students fall for the guise of free money and financial success if they win, however, many young adults don’t have the funds to net their losses. This cycle leads to frequent gambling, with nearly 1 in 10 college students having become habitual sports gamblers.
The results of winning or losing are near immediate as you can bet quickly on things like the next play in a sport. Americans are often left unaware of the risks they are taking with gambling and how easily it is to become addicted to it.
The ease of access and fast-paced betting has led to nearly 2.5 million Americans who show signs of sports betting addiction.
Now that sports betting apps are required to promote gambling hotlines, they have seen huge jumps in their numbers and according to the National Problem Gambling Helpline, nearly 52,370 people are calling into the hotline for help. As Americans become aware that help is out there, the percentage of people calling the hotline has steadily increased.
Since 2018, Americans have spent over $450 billion in sports bets.
____________
Get Help for Problem Gambling
For problem gambling, there are many local and national resources:
- Maryland Center of Excellence on Problem Gambling: mdproblemgambling.com
- Maryland Coalition of Families: mdcoalition.org/get-help-now/Gambling
- Maryland Council on Problem Gambling: marylandproblemgambling.org
- Maryland Problem Gambling Helpline, 1-800-GAMBLER (1-800-426-2537)
- National Council on Problem Gambling: ncpgambling.org
- Gamblers Anonymous International Maryland Hotline: 855-222-5542, gamblersanonymous.org
- Gam-Anon Family Group, 888-230-1123, gam-anon.org/meeting-directory