By: Joshua Alvarez
With millions of young Americans placing their bets, there is a new wave called sports betting. It’s no secret sports betting has been around since ancient times. The first Olympic Games in Ancient Greece took place in 776 BC, with people placing their wagers on the lives of gladiators and chariot races. There is even a god called Mercury, to whom the Roman citizens prayed to help them win gambling bets. Now, with technology, people can gamble from their homes on multiple games simultaneously.
Fanduel Sportsbook is ranked number one for sports gambling along with bet365, and BET MGM Sports, which can easily be accessed in the palms of young American hands. Sports betting has become increasingly popular and normalized, especially among young Americans. However, many Americans believe sports betting has become a public health crisis. And with easy access to gambling on sports through a phone, there is a new trend for young adults to gain quick access and easy money – or so they believe.
On one side of the dollar, people are in support of sports betting, and who can blame them? Sports betting provides a level of entertainment value that many Americans find engaging, and intensifies the overall thrill of watching sports. Not only does it have potential profit for anybody who’s willing to risk it, but it also has been known to have a positive return on investment for the economy. This is done through generating tax revenue and creating jobs, which revives economic growth. And of course, with the potential to win big, many are drawn into the sports world with many choices to pick from.
However, it is impossible to ignore the cons that have a direct correlation with sports betting. You cannot have the potential to win big without noticing the likely outcome of losing big as well. It is important for Americans to approach sports gambling with a responsible mindset and only betting with money that they can afford to lose. But with this comes the risk of addiction to the thrill. As a young American, who doesn’t want that feeling? Many people find it hard to control their gambling habits, which can also lead to financial problems, which could lead to further struggles in their personal life as well. And with sports betting gaining new players every day comes the risk of fixed matches and games.
Take the Super Bowl, for example: When a fellow student was asked how much money he was planning on betting for the Super Bowl, he said he was willing to put $3,000 on the Chiefs winning. Not because he has any expertise in football, but because he was convinced that the National Football League was “rigged for the Chiefs to win because of Travis and Taylor.” Another Bergen student who has more knowledge of football gave us his suspicions on the matter: “I’m also betting on the Chiefs around $500 because it is probably scripted. Have you seen the Lions game where the defender had a perfect opportunity to knock out Mahomes but instead went for another defender who didn’t even have the ball?” Another Bergen athlete gave us an alternative perspective on the matter. “Yeah, betting on the Chiefs. The NFL is not rigged; The 49ers were lucky to be there, I’m betting $500.” Students, rather than basing their bets on a team’s overall skill, are now basing it on whether or not they believe the game is fixed, which damages the overall integrity of sports and sports betting alike.
There have also been issues surrounding legality in some states and tough regulation, with even some sports betting apps banned, which opens up the opportunity for people to gamble illegally. But one thing is for sure: sports gambling can potentially act as a gateway drug or feeling for vulnerable young Americans. This is why many critics are pushing for strict regulation to prevent underage Americans from developing gambling addictions.
The Torch has taken an active role in investigating what can either be considered a trend or a crisis. With multiple testimonies and perspectives, we can dive into what young Americans really think as they talk about their own experiences with gambling. After interviewing several Bergen students who bet on sports, we found out that the overall amount of winnings roughly equaled their amount of losses as well. Another Bergen student has given us his history of winnings and losses: “I’m about even with all my sports bets. Sometimes, I would win a big bet and lose a lot of little ones consecutively. It’s bad bro.” A Bergen wrestler adds, “I did it a couple of times, and I lost because Deebo Samuel from the 49ers could not score. I won the most from football, probably around $150. Most I lost was like $50.” When asked how his losses were he told us, “I don’t count losses, only lessons and wins. I bet on football because I have the most knowledge of it.”
A member of the Bergen community — who made a net profit of $6,000 last year — explains to us his method: “Look up MGM.com and look at the bonus they are offering. I think if you start with a $5 bet, they will give you $150 worth of free bets. They will give you 30 days for this and hopefully win with a profit over $60. I would then go to Bet365, and I would bet my $5. They will also give me $150 worth of free bets as well. As a grand newbie, I could bet two $5 bets on the Super Bowl and bet on opposite teams, so I break even and be left with $300 worth of free bets, which I could either withdraw or continue to use to make small bets going forward.”
The advisability of sports betting among young Americans remains controversial. While sports betting can be enjoyable and has the potential to be profitable, it carries inherent risks that need to be managed responsibly.