Once upon a time, sports betting was a niche activity, largely confined to a small network of bookies. But in 2018, the Supreme Court’s decision in Murphy v. National Collegiate Athletic Association changed everything. The ruling opened the floodgates for legal sports betting in the United States, and today it is widespread in 38 states. This rapid expansion of sports betting has been accompanied by a surge in advertising, with betting companies spending billions of dollars to lure new customers. These ads often feature celebrities and athletes, and they play on our desire to be winners. They promise us that we can change our fortunes overnight, and they make it seem like betting is easy and risk-free.
The truth, however, is that sports betting is a risky proposition. Most bettors lose money in the long run. And for some people, betting can become an addiction. Research has shown that young men are particularly vulnerable to developing gambling addictions. They are more likely to overestimate their chances of winning and to underestimate the costs of losing. And the advent of legal mobile betting has made it easier than ever for young men to place bets. They can now do it from their phones, anytime, anywhere.
The gambling industry is well aware of the risks that its products pose to young men. And it has been targeting them with aggressive marketing campaigns. In 2022, The New York Times reported that sportsbooks have partnered with universities to inundate students with betting enticements. These ads are often deceptive and they downplay the risks of gambling. They make it seem like betting is a safe and fun way to make money. But the truth is that betting is a risky proposition that can lead to financial ruin and addiction.
It is time for state governments to take action to protect young people from the dangers of sports betting. They can do this by increasing regulation of the industry and by funding public education campaigns about the risks of gambling.
