March Madness is fast approaching. The men’s and women’s college basketball teams, 68 of each, are gearing up for three weeks of frenzy on the court, as each team dreams of reaching the Sweet Sixteen, the Elite Eight or the Final Four. A few even have their sights set on being crowned the national champion.
Yet the “madness” of the tournament pales by comparison to the persistent growth of online sports gambling that is ravaging the country.
Sports gambling is now available in more than three-quarters of states, and for good reason. The revenue that states are generating from such activities is measured in the billions of dollars each year. Such a windfall permits states to close budget gaps and increase revenue without raising taxes.
This sounds great. The opportunity to place a few bets on games is cheap entertainment and a revenue creator for states. For most people, this is true. The problem is that there is a sector of the population that does not engage in gambling as entertainment. These gamblers are addicted to it, with little or no control over when they gamble and how much they gamble.
Such compulsive gamblers place bets far beyond their means, creating a financial mess that may lead to lost jobs, lost homes and lost families. They look like everyone else, and when not gambling, act like everyone else. Yet once they place a bet, their addiction takes hold, and they lose control.
Sports and gambling have become synonymous. ESPN Bet makes it easy for gamblers to place bets on games. Numerous gambling sportsbooks such as Fan Duel and DraftKings entice gamblers to open an account with bonus bets, hoping they will continue to place their bets with them.
Old-school gambling used to be on who would win a game. Today, with the availability of online gambling apps, every play in a game is an opportunity to place a bet. Will the first points scored be a three-pointer? Who will score it? Who will get the first rebound? The list of possibilities is near endless.
Gambling sportsbooks are quick to note that they caution problem gamblers to not gamble too much. They may list a help hotline on their websites for this purpose and to deflect future liabilities. Yet those who bet occasionally do not need such information and help. The people who gamble frequently and uncontrollably need it yet are not visiting the gambling sportsbook for the encouragement to seek help.
In fact, sportsbooks need gambling addicts to remain profitable. There are simply not enough casual gamblers to keep them in business.
With March Madness, a highly vulnerable group is male college students. Many love sports in general and know a lot about different teams. They believe placing a few dollars on games makes the events more interesting to watch. A few wins give them confidence that picking winners is an easy way to make a few extra dollars. In fact, it is not.
Sportsbooks tilt the odds and payouts in their favor, so over time, the only winners are the sportsbooks themselves. Gambling addicts dig financial holes for themselves, hoping for wins to overcome the gambling debt they accrue.
March Madness office pools are not the problem. Most who participate enjoy the camaraderie of the tourney and the opportunity to exchange pleasantries about the upset they picked or the one that busted their bracket.
The gambling addict uses March Madness to amplify their daily gambling activities. A game somewhere is an opportunity to place bets anywhere and at any time.
The online sports gambling industry has exploded since the Supreme Court legalized sports gambling in 2018. Given that a smartphone is a de facto direct line to sportsbooks, access to gambling is now a 24/7 activity. Plus with states turning a blind eye to gambling addiction, given the revenue gains they are reaping, the end result of gambling addiction will be no different than the opioid addiction crisis, as indicated by the high rate of suicide among problem gamblers.
Sports is not the problem. Smartphones are not the problem. States turning a blind eye to sports gambling is not the problem. Even online sports gambling is not the problem. The problem is the synergy of all these coming together. The volume of bets that can be made every hour in real time facilitates an environment of gambling frenzy that is uncontrollable. This is seeding gambling addicts at an alarming rate. The group most affected is young men, a demographic that some believe is in crisis. And young men grow up, creating a crisis for society.
Until sportsbooks and states recognize their role in this situation and become willing to forgo some revenue for the greater good, particularly for gambling addicts yet to be recognized, the greatest madness in March Madness will not be on the court. It will reside in the heads of gambling addicts, as they place bets on games and specific plays, chasing dreams that will always remain out of reach.
If you feel like you can’t stop placing bets, help is available. Call or text 1-800-GAMBLER or visit the National Problem Gambling Helpline at www.ncpgambling.org/help-treatment/.
Sheldon H. Jacobson, Ph.D., is a professor of computer science in the Grainger College of Engineering at the University of Illinois at Urbana-Champaign. He is the founder of Bracketodds, a learning lab showcasing the mathematics of March Madness.
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