Among my college peers, using apps to bet on sporting events has become a dangerous rite of passage. March Madness will only add fuel to the fire.Among my college peers, using apps to bet on sporting events has become a dangerous rite of passage. March Madness will only add fuel to the fire.
What starts out as a seemingly harmless diversion quickly becomes a trap. I’ve had friends who have lost hundreds, lied to their families and pulled away from the team, all while chasing the rush of a winning bet that may never arrive. Sports gambling was a major problem for many of my high-school classmates, but it’s gotten even worse in college. Now, as March Madness ramps up this weekend, when wagering and betting pools are everywhere, the opportunities to get sucked into gambling apps will only increase.
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I have one friend who used money from a part-time job to bet on NBA games. Once that was gone, he got desperate and started using a family member’s linked account, burning through $600 before they caught on. Another teammate convinced his parents to allow him to make a $50 bet for “fun.” After losing, he secretly used a shared credit card to try to try to recoup his losses. Another friend ended up selling his gaming console and a pair of shoes to cover a $500 bet that didn’t pan out.
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The social fallout can be tough, with the heaviest bettors sometimes ghosting friends entirely. One guy who used to be the life of our group chat went quiet as he got caught up in tracking his bets. Others struggle with academic classes, staying up late glued to the apps and skipping homework.
How much of our society's problems are due to an internet designed for mature adults being accessible to children who don't fully understand the consequences of their decisions?
Three thoughts come to mind:
- Who's to say adults make more mature decisions?
- Maybe losing money on gambling early on is what teaches them a lesson.
- Age verification laws don't seem the way to go.
Anyway just food for thought. This seems like an article that'd be of interest to a number of stackers.
(also, rare ~econ / ~Stacker_Sports crossover)
I am not surprised. Gambling is everywhere now. You might be right that losing small amounts of money early on might be a good lesson.
I wish people would learn how to say "Yes, this is a problem. No, we don't need more laws to deal with it."
The cure for being an idiot is being an idiot?
There's a quote from The Once and Future King:
Maybe the cure for being an idiot actually is being an idiot...as long as you must bear the consequences of your own idiocy.
Learn or die, dummies
Honestly all the examples in the article are pretty low grade. Not even a 4-digit loss, and no suicides. They should consider it a pretty inexpensive lesson all things considered.
For sure. Although, if I had lost $600 as an undergrad, it would have taken me years to dig out of that financial hole.
I spent $2800 on a trip to Europe when I was 20 and it felt like I had spent a million dollars. Haha
Tell me those were Canadian dollars at least
Yes. Exchange rate was probably pretty similar to now. That was before the Euro so I had to carry like 5 different currencies.
Agreed.
Young people do dumb shit. The specific shit shifts around a little.
I was wondering if this is something bitcoin might help with, since microbets are feasible and debt financing is harder.
I heard wild alcohol consumption is down in Gen Z. Which was worse, alcohol or gambling? I know what Darth would say, kek.
That’s exactly what I was thinking about as a comparison
It's a really sensitive subject and with major consequences i honesty just wanted that simple tips got more attention
Bankroll - if you can loose $50 your waggers should be $1,50 tops 1-3%, make 50 bets you'll get your "winning" strategy by the end, if you have $51 on your Bankroll you know what your doing 😁
Bet types - long story short
Single bets the split is 55/45 revenue for the bookies
Parlays is 65/35
Cassino slots 80/20
Go single bet for your bets, parlays only if you dominate the sport, 10.000+ hours of study
SHOP THE ODDS - the divergence in lines are mind blowing, don't accept inicial bonus that don't favor quick withdraw
This should be responsible gambling 101
Dumb advice: Go underdogs always, search +150 odds for a winning % of +45 RESEARCH