Gambling has become more than just a trip to the casino; it has become a part of college-aged students’ daily lives. Betting on sporting events has become as accessible as ever. With more than 40 legal sporting betting apps operating in the United States, it is easy to pick up your phone and put money on sports or play in online casinos.
As popularity rises among students, so does the risk of financial instability and addiction.
Some of these betting apps include different platforms like PrizePicks, DraftKings, FanDuel and Fliff.
In 2018, the United States Supreme Court voted against a federal law banning sports betting. Since then, the industry has continued to expand, and the online Gambling industry is projected to be worth $145 billion dollars by 2030.
The number of available apps varies by state, depending on regulations and laws. Wisconsin sports betting laws are supposedly one of the strictest in the country. In Wisconsin, sports betting is considered generally illegal with the exception of nine casinos where you can place in-person bets. However, apps like PrizePicks and Fliff allow for online use in this state, making sports betting only one click away.
A study by professors at the University of Buffalo found that 10% of college students have a gambling problem.
This percentage largely reflects in the tactics these companies use to lure students into placing bets. This can be seen through advertisements promising “free plays” or easy wins, leading young people to spend more. For students who are in need of money, online gambling is a way to try and make fast cash. Most are already relying on financial aid, student loans, part-time jobs and help from their parents to survive. For some students, a simple $10 bet turning into $100 on a parlay bet seems like an easy choice.
A 2021 National Council on Problem Gambling survey found that 27% of adults ages 18 to 34 said that after they gambled online for the first time, they continued to do so more frequently.
These highly marketable advertisements are starting to have real consequences for betting apps.
DraftKings, an online sports betting app, is facing a recent lawsuit. Dr. Kavita Fischer, a Pennsylvania psychiatrist, is suing the company for negligence and intention for emotional distress. Fischer claimed that DraftKings VIP program continued to give her momentum after she spent over $400,000 on online casino games, ignoring signs of addiction.
When Fisher reached out to DraftKings expressing her distress and need to quit gambling, the company responded by giving her $500 in credit to place more online bets.
On college campuses, the rise of sports betting could lead to detrimental effects that last throughout students’ lifetime.
Young people’s prefrontal cortex, which is responsible for decision making, is not fully developed until their mid-20s. This underdevelopment makes young people more likely to make impulse decisions, such as reckless bets without fully understanding the consequences.
For many people, sports betting is a way people can be entertained and get lucky. But odds are that will not happen.
If you or someone you know is concerned or experiencing a gambling addiction, there are resources for students to explore:
The UWL Counseling and Testing Center:
Call: 608-785-8073
National Problem Gambling Helpline
Call: 1-800-GAMBLER
In-State Resources:
Wisconsin Problem Gambling Helpline
Call: 1-800-GAMBLE-5
Text: 850-888-HOPE
