Legalized Sports Betting
story by Gil Martinez, design by Katrina Nolan
Think your March Madness bracket is killer? Now you can actually cash in on those predictions. Legalized sports betting is sweeping the nation, with billions of dollars being wagered every year. The practice of sports betting is going mainstream, with apps, websites and in-person locations popping up all over. However, with this easy access comes a need for responsible gambling and understanding the potential risks.
The Sports Betting Scene
What is the sports betting scene in the U.S. like? It's practically mainstream thanks to a 2018 Supreme Court decision that gave states the green light to legalize sports wagering. Thirty-eight states and Washington D.C. have jumped on the bandwagon, creating a massive industry that raked in over $100 billion in wagers, plus nearly $2 billion in tax revenue for state and local governments according to taxfoundation.org. This rapid growth has a flip side. There's a rising concern about problem gambling, especially among young people. With online platforms so easy to access and marketing campaigns in overdrive, it's easier than ever to get in over your head.
Sean Green, the voice behind "The Sports Gambling Podcast,” has answers as to the impacts of legalized betting on sports. What exactly is sports betting? Green breaks it down simply, stating that it’s "wagering money on a specific outcome." That outcome could be anything from who wins the Super Bowl to whether the next pitch is a ball or a strike. Green emphasized the sheer variety of bets you can make. It's a whole world of possibilities, from predicting final scores and point spreads to guessing which player will score the first touchdown.
Speaking of different bets, here's a quick crash course:
Straight bets: The simplest form, you're just picking the winner.
Parlays: Feeling bold? Combine multiple bets for a potentially huge payout. But remember, higher risk, higher reward. If one leg of your parlay fails, you lose the whole thing.
Point spreads: This is where things get strategic. The sportsbook gives one team a point advantage to even the odds, making it interesting to bet on the underdog.
Over/unders: Forget who wins; this bet is all about the total points scored in a game. Will it be over or under the number set by the sportsbook?
Prop bets: These are the fun ones. Want to bet on who scores the first touchdown, how many three-pointers a player makes, or even what color Gatorade gets dumped on the winning coach? Prop bets are where it's at.
Unlike many other states where you can place a bet online or at a casino, Washington state decided to keep sports betting within tribal casinos only. Kelly Main from the WSGC (Washington State Gambling Commission) explains that this is rooted in "Washington's history with gambling and its conservative approach to regulation." They're taking a cautious approach, trying to find that sweet spot between economic benefits and potential social costs. Another Washington quirk is that it's illegal to bet on local college teams. Troy Kirby, also from the WSGC, explains this rule came about through collaboration between the Gambling Commission and the tribes. It's all about protecting the integrity of college sports and preventing any conflicts of interest. Some might see it as a bummer, but it shows how seriously Washington takes responsible gambling.
The Risks Of Gambling:
While sports betting can be fun, it's crucial to remember it is still gambling and that comes with risks. Addiction is a serious concern. The excitement of winning can be a powerful pull and it's easy to get caught up chasing losses or betting more than you can afford. Sean Green is upfront about this, saying, "There is a percentage of the population that has addiction issues." And with online platforms making it so convenient, it's even easier to fall into unhealthy habits.
The good news is that according to Main and Kirby, the WSGC is on top of this. They offer resources for people struggling with gambling addiction and have even set up self-exclusion programs, where you can basically ban yourself from gambling, either for a while or permanently. It's a proactive way to help people stay in control.
Green had some wise words about recognizing the signs of a problem. He said to ask yourself if gambling is "impacting your life in a bigger sense," such as affecting your finances, relationships or overall well-being. He put it this way: "If it's impacting your life or just impacting your life outside of just ‘oh, hey this is a hundred dollars,’ like win or lose it either way, doesn't ruin my day. Ruin my life. Hey, if I win, that's fun." Basically, if it stops being just a bit of fun and starts to take over, it's time to take a step back. Remember, there are no guarantees in gambling. Even the experts have losing streaks. The key is to be responsible, set limits and never bet more than you can afford to lose.
Green’s advice for college students? Keep it fun and responsible. Don't get sucked in by those "free bet" offers or think you'll get rich quick. Treat it like entertainment and only bet what you can afford to lose, such as the money you'd spend on a night out with friends. Lastly and most importantly, if you feel like it's becoming a problem, don't hesitate to reach out for help.