The college athletics industry is worth a billion dollars. College Sports Betting was a cash cow that could only tap legally recently. This terrain is in flux.
In 2018, the United States Supreme Court invalidated a federal ban barring sports betting. According to the American Gaming Association, 36 states and the District of Columbia have legalized sports betting. In contrast, five others have “active legislation” pending. According to research by Custom Market Insights, the online gambling market will be worth more than $145 billion by 2030. The sports betting industry is a major contributor.
With tens of thousands of students and potentially millions of followers, major colleges have become a particularly enticing market for sports betting organizations. Especially in this age of increased digital technology. Colleges see a potential to earn millions of dollars and recuperate lost revenue from the COVID-19 outbreak. Forming partnerships with sports betting organizations.
Experts believe that there are associated concerns that kids and their parents should consider while evaluating potential entertainment and financial gain channels.
Keith Whyte, executive director of the National Council on Problem Gambling, a national advocacy organization. He predicts that the number of institutions with partnerships with sports betting companies will continue to increase. In addition, according to The New York Times, “at least a dozen sports departments and booster clubs have struck contracts with land-based casinos.”
These relationships enable sports betting companies to advertise college sports betting in athletic venues. In some cases, directly into students’ email accounts. The Times stated that sure students at Louisiana State University—Baton Rouge struck an agreement with Caesars Sportsbook in 2021. Received an email urging them to “make your first bet (and collect your first bonus).” It includes individuals under Louisiana’s legal betting age of 21.
According to reports, other schools that have signed partnership agreements have used similarly attractive language to get students to download a sports betting app. Concerns are raised regarding the morality of these relationships. Some believe they are incompatible with the objective of higher education. They prey on a vulnerable demographic and expose students to potentially addictive behavior through additional channels.
Greater Risk for Students
According to Whyte, these relationships increase the probability of gambling issues among college students. Although it prohibits underage casino gambling in most states, online gambling age regulations differ. According to the non-profit International Center for Responsible Gambling, approximately 6% of U.S. college students report serious gambling problems.
Experts are concerned that college students frequently have little financial resources and that gambling can exacerbate this problem.
Recognizing Addictions
It is not the first time the so-called “vice industry” has been promoted on college campuses. Often includes products with addictive potentials, such as drugs, alcohol, and gambling. Experts highlighted parallels between university collaborations with alcohol corporations and university connections with credit card firms, which can lead to financial difficulties for students.
Parents frequently teach their children about the dangers of substances like drugs, alcohol, and even credit card offers that are predatory. According to Michelle Malkin, an associate professor of criminal justice at East Carolina University in North Carolina who studies problem gambling and gambling-motivated crime, people are naive about gambling addiction.
The conclusion
According to experts, it begins with parents demonstrating how to gamble or engage in any potentially addictive activity properly. They should illustrate when and how to walk away, set limitations, and resist peer and social pressure to continue participating when they have reached their limits.
