On the night of the 2023 Super Bowl, gamblers settled into their homes to determine if the sizable bets they placed were worth it. In the last eight seconds of the heated game, the Kansas City Chiefs triumphed with a three point lead. Not only were the Chiefs and the Philadelphia Eagles faced with high stakes that night, but so were 50 million American gamblers.
The phenomenon of sports betting has become increasingly popular over the past few years. This year, the number of Americans planning to participate in these bets has risen by 56%, with 73 million planning to place a bet on an NFL game this season, according to ESPN.
Sports betting was legalized in Maryland in 2021 for participants at least 21 years old. However, many younger sports fans participate illegally. Bettors can wager in a variety of ways through their phones, computers or in person at certain locations. A gambler can bet on the outcome of a game, the amount of points a team wins or loses by and player statistics.
“People like when the stakes are high,” senior and co-president of the sports analysis club Ethan Safra said. “It’s totally natural with sports to feel that the stakes are high. But it [sports betting] can make the stakes higher.”
Increased advertisement for betting has played a big role in the rise of sports betting. Additionally, television networks have begun to offer advice to fans on bets to make for the best outcome. There are currently 12 legal online betting platforms for fans, the most popular of which are FanDuel, DraftKings and BetMGM.
In general, betting platforms have generated large amounts of money for states governments. Platforms controlled by the state profit from winning bets which can boost local economies.
As betting increases in popularity, so does education on it. Assistant Athletic Director and alumnus Matthew Landy (‘18) studies sports betting at Georgetown University as part of his Master’s degree in sports management.
“I wanted to get a better understanding of the betting market,” Landy said. “It has become a huge part of the sports industry and will only continue to grow within the industry as more states continue to legalize it.”
Despite the appeal associated with sports betting, it has had negative impacts on mental health. According to Landy, betting is highly addictive, even from a screen. Placing large wagers can cause anxiety because, when not careful, bettors can easily lose money which can affect their financial situation.
A high school student who requested anonymity thinks betting can be fun when one is not addicted and if it is managed in a controlled environment. The student bets with their father a couple times a week but does not bet by themselves as it is illegal.
“I feel like I have a very advanced knowledge of sports,” the student said. “And this is a way that all my sports knowledge could potentially make me money. I feel like some sports are a bit rigged, and I know about it, so I can take that to my advantage and make a bit of money.”
Ultimately, the student thinks that by understanding how to bet safely as a teen, they can be more prepared for the future when legally betting by themselves.
“It’s important that if you do feel like it’s necessary to begin betting, that you do so in a safe way and have someone that is more knowledgeable about it and more experienced to help guide you through the entire process so that you’re making informed decisions,” Landy said.
