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Jonathan D. Cohen Quotes

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When someone engages in a pleasurable activity like gambling, their brain releases dopamine, a neurotransmitter that processes rewards. Dopamine is what makes these activities feel pleasurable. Psychiatrist Anna Lembke explains that pleasure and pain act on an equilibrium, encouraging limits on the activity in question, no matter how enjoyable. Over time, repeated exposure to pleasure means the brain requires more of that activity—gambling with more money, for example—to receive the same amount of dopamine. Once someone has built up a tolerance, they are susceptible to addiction and, with their equilibrium imbalanced in favor of pain, they will need ever-increasing amounts to experience even a modicum of pleasure—or simply a break from pain.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Winning money felt different, providing a hit of dopamine no biweekly direct deposit ever could. Unlike a salary, winning said something about the gambler as a person. It marked them as a winner. The lottery lets bettors feel they are lucky or blessed. Sports betting lets gamblers feel smart. Of course, luck plays an important role in sports, and by extension in sports betting. However, because gamblers make their own picks, they can imagine sports betting as an exercise in intelligence.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Problem gambling has a higher suicide rate than any other type of addiction. According to a 2023 Rutgers study of New Jersey bettors, almost 30 percent of individuals with a gambling disorder reported thoughts of suicide, 25 percent had engaged in self-harm, and 20 percent had attempted suicide. An important factor is gender. Men are already much more likely to die by suicide than women, and heavy gamblers, especially sports bettors, are predominantly male. Gambling studies scholarship offers two additional reasons for the high prevalence of suicide among problem gamblers. First is indebtedness, the understanding that the gambler’s debts would disappear with them. The second is shame. Gambling addiction has not been destigmatized nearly as much as other substance addictions.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Modern sports betting is so dangerous specifically because it is available online.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Young men across the globe have a documented appetite for risky behavior that might predispose them to gambling, especially for large stakes. In the United States, this appetite for risk is augmented by a relative decline in income for all but the top-earning men and by lower rates of enrollment in higher education compared to women. For many, gambling presents a seemingly rational alternative way to try and get rich. The sportsbooks know all this.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
People who have lost their savings or have developed an addiction need to know that they are not solely at fault and that support is available. Given the high suicide rate among problem gamblers, American families and educational institutions need to do everything they can so that if someone runs into trouble with gambling, they know to come forward before their life is in danger.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Seven states have legalized iGaming — online casino games like slot machines and blackjack. From personal experience, these games are terrifying in how addictive they are. They offer much better margins than sports betting, so major gambling companies will leverage their sportsbooks to dominate this market, just as they leveraged DFS to dominate sports betting. While sports betting can be tweaked to be made safer, iGaming needs to be stopped in its tracks until it can be proven that the games are designed with player safety in mind. And even these games are just the beginning, as young people are caught up in a range of online gambling-adjacent activities, from stock trading and cryptocurrency to video-game skin gambling and loot boxes.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
By the time someone recognizes the need for a deposit limit, their dopamine pathways may already be rewired in a way that makes it difficult to slow their gambling -- and therefore makes them unwilling to opt into a program to do so.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
While sportsbooks contract with their fair share of athletes from active players like LeBron James to recent retirees like Rob Gronkowski to old-timers like Charles Barkley they select actors and comedians in an attempt to strike a broader appeal. It likely comes as no coincidence that Hart, Smoove, and Foxx and many of the former athletes are Black. African Americans are more likely to have a sports betting account, more likely to check their account at least daily, and twice as likely to say they typically bet more than $100.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
In April 2021, forty-year-old Luke Ashton died by suicide after sinking £18,000 into debt, primarily through gambling with Betfair, a part of Flutter. Ashton had utilized numerous RG [Responsible Gaming] tools, including self-exclusion and deposit limits. But in the ten weeks prior to his death, he ramped up his gambling. In March 2021, he made 1,229 bets and deposited £2,500 into his account. Ashton received eight generic RG emails from Betfair, whose algorithm labeled him “low risk” for problem gambling. In a landmark move, the coroner listed gambling disorder as a cause of death, noted that RG tools are “inadequate” for protecting gamblers, and castigated the company for not adopting practices that would meaningfully prevent harm.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
The classification of gambling as an addictive activity means that at some point, problem gamblers are not choosing to gamble. The road to addiction is smoothed for them by sportsbooks. The design of the app interfaces, the nonstop stream of betting options, the relentless advertising, and the auspiciously timed bonus offers all serve to keep people like Kyle engaged, maximizing their “customer lifetime value,” the industry’s holy grail metric dating back to the days of DFS. If sportsbooks have smoothed bettors’ paths to heavy losses and gambling disorder, then states have smoothed sportsbooks’ paths to products that let them do so.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
67% of sports bettors said they watched more than usual when they had bet on an NFL game. While a quarter of all sports bettors said they watched more than usual when they had bet on an NFL game, watching a game that was a blowout, just 10 percent said they would do so if they had money on the line. This was music to the league’s ears. As a former DraftKings employee observes, gambling is “scratching the itch of people who are competitive . . . or somebody that just wants a reason to watch a Thursday night Titans/Texas game.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Gambling addiction is not an addiction to winning money. Problem gamblers’ brains do not release any more dopamine when they win a bet than non-problem gamblers’ brains. The largest difference—when problem gamblers release markedly more dopamine than non-problem gamblers—comes at moments of high uncertainty. These instances provide the rush and the fleeting pleasure/pain equilibrium to which problem gamblers are addicted.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Many sports fans—especially young men—feel they have a unique understanding of the games they watch. Sports betting capitalizes on this unearned confidence, daring fans to prove that they know sports better than their friends, their coworkers, and the hosts of their local sports talk radio station. When their intuition is wrong, these same fans have a remarkable ability to maintain their confidence, convinced that their wins are the result of their knowledge of the game and their losses are due to unlucky bounces.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Isaac Rose-Berman explains, many professional bettors purposefully engage in betting behaviors that make them look irresponsible, such as logging in at odd hours or withdrawing money and then canceling the withdrawal to keep money in their account (to give the appearance that they can’t resist betting). These sharp players know that sportsbooks don’t want to cut off bettors like Andrew. They reason that the longer they can make the sportsbooks think they have an addiction, the longer they will be allowed to bet without limits on their account.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Little needs to be done to persuade people that stealing to support a gambling habit is wrong. But what about a sportsbook identifying a bettor who is trying to quit and targeting them with promotional credits? What about an app interface with limitless betting options designed to satiate bettors’ constant need for action, where one can lose multiple mortgage payments in a matter of seconds? What about an industry whose entire business model relies on a small percentage of players losing large amounts of money?
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Sports betting today bears little resemblance to the smoke-filled sportsbooks tucked inside Las Vegas casinos. Players can bet on almost everything, from how the Jacksonville Jaguars will do next season (probably poorly) to the speed of the next pitch or which team will score the next basket. Online sports betting offers almost no friction, providing little to encourage players to slow down and take stock of their play. Instead, the apps present an endless stream of action at the touch of a button.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Tobacco companies have long insisted that smoking is a choice. They do so even as they have adjusted their cigarettes to ensure just the right balance between ammonia and nicotine to keep smokers chemically hooked.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
No matter how small they make the font, RG [Responsible Gaming] messages are exactly what the sportsbooks want. RG reinforces to bettors that playing safely is up to them and them only. As historian Sarah Milov explains, warning labels were nominally placed on cigarettes to warn customers about the risks to their health. However, they also served to protect the tobacco industry from tort litigation, as “Americans could no longer claim they had not been warned about the risks” of smoking. Though hardly as prominent or as morbid as cigarette warning labels, responsible gaming messages serve much the same purpose, inoculating the industry in the event bettors get carried away.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
The purpose of the ads is to create a nation of sports bettors, “a massive market for a previously nonexistent product category.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
The first lawsuits against tobacco companies by smokers were filed in the 1950s, but the industry maintained an undefeated record in these cases for four decades. The opioid crisis began in the 1990s but took until the mid-2010s to gain national media and political attention, and a similar (albeit shorter) lag plagued lawmakers’ response to fentanyl. The Senate’s passage of the Kids Online Safety Act sponsored by Richard Blumenthal in 2024 came only after a leak of incriminating Facebook files and years of warnings about the deleterious effect of social media on young people’s mental health. Federal action on sports gambling regulation will likely face a similarly protracted timeline.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Too many young people and some not-so-young people are getting caught up in gambling without understanding how easy it is to get carried away or to become addicted. Some of these people likely would have run into trouble gambling anyway—a curious fact about American problem gambling is that rates have generally remained consistent for decades, even as states have expanded the menu of legal betting options. But many people like Kyle, only started betting because it was legal and, more importantly, because it was available on their cell phone.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
The current sports betting regime is defined by insufficient regulations to protect gamblers, with too many states relying on the impossible dream of sportsbooks regulating themselves.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
For decades, the [NFL] had a strict ban on all televised gambling references. Some announcers, like Jimmy “The Greek” Snyder or Al Michaels, would cheekily skirt this rule. If the outcome of a game was in hand but the losing team scored a touchdown that affected the over/under or the game spread, Michaels might note that the touchdown was “significant to some.” Such insider comments notwithstanding, the NFL’s stance on gambling ensured its broadcasts were gambling-free zones. These days, Al Michaels does DraftKings ad reads for Amazon Prime’s broadcast of Thursday Night Football.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
When someone engages in a pleasurable activity like gambling, their brain releases dopamine, a neurotransmitter that processes rewards. Dopamine is what makes these activities feel pleasurable. Psychiatrist Anna Lembke explains that pleasure and pain act on an equilibrium, encouraging limits on the activity in question, no matter how enjoyable. Over time, repeated exposure to pleasure means the brain requires more of that activity—gambling with more money, for example—to receive the same amount of dopamine. Once someone has built up a tolerance, they are susceptible to addiction and, with their equilibrium imbalanced in favor of pain, they will need ever-increasing amounts to experience even a modicum of pleasure—or simply a break from pain.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Winning money felt different, providing a hit of dopamine no biweekly direct deposit ever could. Unlike a salary, winning said something about the gambler as a person. It marked them as a winner. The lottery lets bettors feel they are lucky or blessed. Sports betting lets gamblers feel smart. Of course, luck plays an important role in sports, and by extension in sports betting. However, because gamblers make their own picks, they can imagine sports betting as an exercise in intelligence.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Problem gambling has a higher suicide rate than any other type of addiction. According to a 2023 Rutgers study of New Jersey bettors, almost 30 percent of individuals with a gambling disorder reported thoughts of suicide, 25 percent had engaged in self-harm, and 20 percent had attempted suicide. An important factor is gender. Men are already much more likely to die by suicide than women, and heavy gamblers, especially sports bettors, are predominantly male. Gambling studies scholarship offers two additional reasons for the high prevalence of suicide among problem gamblers. First is indebtedness, the understanding that the gambler’s debts would disappear with them. The second is shame. Gambling addiction has not been destigmatized nearly as much as other substance addictions.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Modern sports betting is so dangerous specifically because it is available online.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Young men across the globe have a documented appetite for risky behavior that might predispose them to gambling, especially for large stakes. In the United States, this appetite for risk is augmented by a relative decline in income for all but the top-earning men and by lower rates of enrollment in higher education compared to women. For many, gambling presents a seemingly rational alternative way to try and get rich. The sportsbooks know all this.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
People who have lost their savings or have developed an addiction need to know that they are not solely at fault and that support is available. Given the high suicide rate among problem gamblers, American families and educational institutions need to do everything they can so that if someone runs into trouble with gambling, they know to come forward before their life is in danger.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Seven states have legalized iGaming — online casino games like slot machines and blackjack. From personal experience, these games are terrifying in how addictive they are. They offer much better margins than sports betting, so major gambling companies will leverage their sportsbooks to dominate this market, just as they leveraged DFS to dominate sports betting. While sports betting can be tweaked to be made safer, iGaming needs to be stopped in its tracks until it can be proven that the games are designed with player safety in mind. And even these games are just the beginning, as young people are caught up in a range of online gambling-adjacent activities, from stock trading and cryptocurrency to video-game skin gambling and loot boxes.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
By the time someone recognizes the need for a deposit limit, their dopamine pathways may already be rewired in a way that makes it difficult to slow their gambling -- and therefore makes them unwilling to opt into a program to do so.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
While sportsbooks contract with their fair share of athletes from active players like LeBron James to recent retirees like Rob Gronkowski to old-timers like Charles Barkley they select actors and comedians in an attempt to strike a broader appeal. It likely comes as no coincidence that Hart, Smoove, and Foxx and many of the former athletes are Black. African Americans are more likely to have a sports betting account, more likely to check their account at least daily, and twice as likely to say they typically bet more than $100.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
In April 2021, forty-year-old Luke Ashton died by suicide after sinking £18,000 into debt, primarily through gambling with Betfair, a part of Flutter. Ashton had utilized numerous RG [Responsible Gaming] tools, including self-exclusion and deposit limits. But in the ten weeks prior to his death, he ramped up his gambling. In March 2021, he made 1,229 bets and deposited £2,500 into his account. Ashton received eight generic RG emails from Betfair, whose algorithm labeled him “low risk” for problem gambling. In a landmark move, the coroner listed gambling disorder as a cause of death, noted that RG tools are “inadequate” for protecting gamblers, and castigated the company for not adopting practices that would meaningfully prevent harm.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
The classification of gambling as an addictive activity means that at some point, problem gamblers are not choosing to gamble. The road to addiction is smoothed for them by sportsbooks. The design of the app interfaces, the nonstop stream of betting options, the relentless advertising, and the auspiciously timed bonus offers all serve to keep people like Kyle engaged, maximizing their “customer lifetime value,” the industry’s holy grail metric dating back to the days of DFS. If sportsbooks have smoothed bettors’ paths to heavy losses and gambling disorder, then states have smoothed sportsbooks’ paths to products that let them do so.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
67% of sports bettors said they watched more than usual when they had bet on an NFL game. While a quarter of all sports bettors said they watched more than usual when they had bet on an NFL game, watching a game that was a blowout, just 10 percent said they would do so if they had money on the line. This was music to the league’s ears. As a former DraftKings employee observes, gambling is “scratching the itch of people who are competitive . . . or somebody that just wants a reason to watch a Thursday night Titans/Texas game.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Gambling addiction is not an addiction to winning money. Problem gamblers’ brains do not release any more dopamine when they win a bet than non-problem gamblers’ brains. The largest difference—when problem gamblers release markedly more dopamine than non-problem gamblers—comes at moments of high uncertainty. These instances provide the rush and the fleeting pleasure/pain equilibrium to which problem gamblers are addicted.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Many sports fans—especially young men—feel they have a unique understanding of the games they watch. Sports betting capitalizes on this unearned confidence, daring fans to prove that they know sports better than their friends, their coworkers, and the hosts of their local sports talk radio station. When their intuition is wrong, these same fans have a remarkable ability to maintain their confidence, convinced that their wins are the result of their knowledge of the game and their losses are due to unlucky bounces.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Isaac Rose-Berman explains, many professional bettors purposefully engage in betting behaviors that make them look irresponsible, such as logging in at odd hours or withdrawing money and then canceling the withdrawal to keep money in their account (to give the appearance that they can’t resist betting). These sharp players know that sportsbooks don’t want to cut off bettors like Andrew. They reason that the longer they can make the sportsbooks think they have an addiction, the longer they will be allowed to bet without limits on their account.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Little needs to be done to persuade people that stealing to support a gambling habit is wrong. But what about a sportsbook identifying a bettor who is trying to quit and targeting them with promotional credits? What about an app interface with limitless betting options designed to satiate bettors’ constant need for action, where one can lose multiple mortgage payments in a matter of seconds? What about an industry whose entire business model relies on a small percentage of players losing large amounts of money?
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Sports betting today bears little resemblance to the smoke-filled sportsbooks tucked inside Las Vegas casinos. Players can bet on almost everything, from how the Jacksonville Jaguars will do next season (probably poorly) to the speed of the next pitch or which team will score the next basket. Online sports betting offers almost no friction, providing little to encourage players to slow down and take stock of their play. Instead, the apps present an endless stream of action at the touch of a button.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Tobacco companies have long insisted that smoking is a choice. They do so even as they have adjusted their cigarettes to ensure just the right balance between ammonia and nicotine to keep smokers chemically hooked.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
No matter how small they make the font, RG [Responsible Gaming] messages are exactly what the sportsbooks want. RG reinforces to bettors that playing safely is up to them and them only. As historian Sarah Milov explains, warning labels were nominally placed on cigarettes to warn customers about the risks to their health. However, they also served to protect the tobacco industry from tort litigation, as “Americans could no longer claim they had not been warned about the risks” of smoking. Though hardly as prominent or as morbid as cigarette warning labels, responsible gaming messages serve much the same purpose, inoculating the industry in the event bettors get carried away.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
The purpose of the ads is to create a nation of sports bettors, “a massive market for a previously nonexistent product category.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
The first lawsuits against tobacco companies by smokers were filed in the 1950s, but the industry maintained an undefeated record in these cases for four decades. The opioid crisis began in the 1990s but took until the mid-2010s to gain national media and political attention, and a similar (albeit shorter) lag plagued lawmakers’ response to fentanyl. The Senate’s passage of the Kids Online Safety Act sponsored by Richard Blumenthal in 2024 came only after a leak of incriminating Facebook files and years of warnings about the deleterious effect of social media on young people’s mental health. Federal action on sports gambling regulation will likely face a similarly protracted timeline.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Too many young people and some not-so-young people are getting caught up in gambling without understanding how easy it is to get carried away or to become addicted. Some of these people likely would have run into trouble gambling anyway—a curious fact about American problem gambling is that rates have generally remained consistent for decades, even as states have expanded the menu of legal betting options. But many people like Kyle, only started betting because it was legal and, more importantly, because it was available on their cell phone.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
The current sports betting regime is defined by insufficient regulations to protect gamblers, with too many states relying on the impossible dream of sportsbooks regulating themselves.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
For decades, the [NFL] had a strict ban on all televised gambling references. Some announcers, like Jimmy “The Greek” Snyder or Al Michaels, would cheekily skirt this rule. If the outcome of a game was in hand but the losing team scored a touchdown that affected the over/under or the game spread, Michaels might note that the touchdown was “significant to some.” Such insider comments notwithstanding, the NFL’s stance on gambling ensured its broadcasts were gambling-free zones. These days, Al Michaels does DraftKings ad reads for Amazon Prime’s broadcast of Thursday Night Football.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
When someone engages in a pleasurable activity like gambling, their brain releases dopamine, a neurotransmitter that processes rewards. Dopamine is what makes these activities feel pleasurable. Psychiatrist Anna Lembke explains that pleasure and pain act on an equilibrium, encouraging limits on the activity in question, no matter how enjoyable. Over time, repeated exposure to pleasure means the brain requires more of that activity—gambling with more money, for example—to receive the same amount of dopamine. Once someone has built up a tolerance, they are susceptible to addiction and, with their equilibrium imbalanced in favor of pain, they will need ever-increasing amounts to experience even a modicum of pleasure—or simply a break from pain.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Winning money felt different, providing a hit of dopamine no biweekly direct deposit ever could. Unlike a salary, winning said something about the gambler as a person. It marked them as a winner. The lottery lets bettors feel they are lucky or blessed. Sports betting lets gamblers feel smart. Of course, luck plays an important role in sports, and by extension in sports betting. However, because gamblers make their own picks, they can imagine sports betting as an exercise in intelligence.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Problem gambling has a higher suicide rate than any other type of addiction. According to a 2023 Rutgers study of New Jersey bettors, almost 30 percent of individuals with a gambling disorder reported thoughts of suicide, 25 percent had engaged in self-harm, and 20 percent had attempted suicide. An important factor is gender. Men are already much more likely to die by suicide than women, and heavy gamblers, especially sports bettors, are predominantly male. Gambling studies scholarship offers two additional reasons for the high prevalence of suicide among problem gamblers. First is indebtedness, the understanding that the gambler’s debts would disappear with them. The second is shame. Gambling addiction has not been destigmatized nearly as much as other substance addictions.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Modern sports betting is so dangerous specifically because it is available online.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Young men across the globe have a documented appetite for risky behavior that might predispose them to gambling, especially for large stakes. In the United States, this appetite for risk is augmented by a relative decline in income for all but the top-earning men and by lower rates of enrollment in higher education compared to women. For many, gambling presents a seemingly rational alternative way to try and get rich. The sportsbooks know all this.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
People who have lost their savings or have developed an addiction need to know that they are not solely at fault and that support is available. Given the high suicide rate among problem gamblers, American families and educational institutions need to do everything they can so that if someone runs into trouble with gambling, they know to come forward before their life is in danger.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Seven states have legalized iGaming — online casino games like slot machines and blackjack. From personal experience, these games are terrifying in how addictive they are. They offer much better margins than sports betting, so major gambling companies will leverage their sportsbooks to dominate this market, just as they leveraged DFS to dominate sports betting. While sports betting can be tweaked to be made safer, iGaming needs to be stopped in its tracks until it can be proven that the games are designed with player safety in mind. And even these games are just the beginning, as young people are caught up in a range of online gambling-adjacent activities, from stock trading and cryptocurrency to video-game skin gambling and loot boxes.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
By the time someone recognizes the need for a deposit limit, their dopamine pathways may already be rewired in a way that makes it difficult to slow their gambling -- and therefore makes them unwilling to opt into a program to do so.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
While sportsbooks contract with their fair share of athletes from active players like LeBron James to recent retirees like Rob Gronkowski to old-timers like Charles Barkley they select actors and comedians in an attempt to strike a broader appeal. It likely comes as no coincidence that Hart, Smoove, and Foxx and many of the former athletes are Black. African Americans are more likely to have a sports betting account, more likely to check their account at least daily, and twice as likely to say they typically bet more than $100.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
In April 2021, forty-year-old Luke Ashton died by suicide after sinking £18,000 into debt, primarily through gambling with Betfair, a part of Flutter. Ashton had utilized numerous RG [Responsible Gaming] tools, including self-exclusion and deposit limits. But in the ten weeks prior to his death, he ramped up his gambling. In March 2021, he made 1,229 bets and deposited £2,500 into his account. Ashton received eight generic RG emails from Betfair, whose algorithm labeled him “low risk” for problem gambling. In a landmark move, the coroner listed gambling disorder as a cause of death, noted that RG tools are “inadequate” for protecting gamblers, and castigated the company for not adopting practices that would meaningfully prevent harm.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
The classification of gambling as an addictive activity means that at some point, problem gamblers are not choosing to gamble. The road to addiction is smoothed for them by sportsbooks. The design of the app interfaces, the nonstop stream of betting options, the relentless advertising, and the auspiciously timed bonus offers all serve to keep people like Kyle engaged, maximizing their “customer lifetime value,” the industry’s holy grail metric dating back to the days of DFS. If sportsbooks have smoothed bettors’ paths to heavy losses and gambling disorder, then states have smoothed sportsbooks’ paths to products that let them do so.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
67% of sports bettors said they watched more than usual when they had bet on an NFL game. While a quarter of all sports bettors said they watched more than usual when they had bet on an NFL game, watching a game that was a blowout, just 10 percent said they would do so if they had money on the line. This was music to the league’s ears. As a former DraftKings employee observes, gambling is “scratching the itch of people who are competitive . . . or somebody that just wants a reason to watch a Thursday night Titans/Texas game.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Gambling addiction is not an addiction to winning money. Problem gamblers’ brains do not release any more dopamine when they win a bet than non-problem gamblers’ brains. The largest difference—when problem gamblers release markedly more dopamine than non-problem gamblers—comes at moments of high uncertainty. These instances provide the rush and the fleeting pleasure/pain equilibrium to which problem gamblers are addicted.
From Losing Big: America's Reckless Bet on Sports Gambling
Avg Rating: --Rate This Quote
Many sports fans—especially young men—feel they have a unique understanding of the games they watch. Sports betting capitalizes on this unearned confidence, daring fans to prove that they know sports better than their friends, their coworkers, and the hosts of their local sports talk radio station. When their intuition is wrong, these same fans have a remarkable ability to maintain their confidence, convinced that their wins are the result of their knowledge of the game and their losses are due to unlucky bounces.
From Losing Big: America's Reckless Bet on Sports Gambling
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Isaac Rose-Berman explains, many professional bettors purposefully engage in betting behaviors that make them look irresponsible, such as logging in at odd hours or withdrawing money and then canceling the withdrawal to keep money in their account (to give the appearance that they can’t resist betting). These sharp players know that sportsbooks don’t want to cut off bettors like Andrew. They reason that the longer they can make the sportsbooks think they have an addiction, the longer they will be allowed to bet without limits on their account.
From Losing Big: America's Reckless Bet on Sports Gambling
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Little needs to be done to persuade people that stealing to support a gambling habit is wrong. But what about a sportsbook identifying a bettor who is trying to quit and targeting them with promotional credits? What about an app interface with limitless betting options designed to satiate bettors’ constant need for action, where one can lose multiple mortgage payments in a matter of seconds? What about an industry whose entire business model relies on a small percentage of players losing large amounts of money?
From Losing Big: America's Reckless Bet on Sports Gambling
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Sports betting today bears little resemblance to the smoke-filled sportsbooks tucked inside Las Vegas casinos. Players can bet on almost everything, from how the Jacksonville Jaguars will do next season (probably poorly) to the speed of the next pitch or which team will score the next basket. Online sports betting offers almost no friction, providing little to encourage players to slow down and take stock of their play. Instead, the apps present an endless stream of action at the touch of a button.
From Losing Big: America's Reckless Bet on Sports Gambling
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Tobacco companies have long insisted that smoking is a choice. They do so even as they have adjusted their cigarettes to ensure just the right balance between ammonia and nicotine to keep smokers chemically hooked.
From Losing Big: America's Reckless Bet on Sports Gambling
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No matter how small they make the font, RG [Responsible Gaming] messages are exactly what the sportsbooks want. RG reinforces to bettors that playing safely is up to them and them only. As historian Sarah Milov explains, warning labels were nominally placed on cigarettes to warn customers about the risks to their health. However, they also served to protect the tobacco industry from tort litigation, as “Americans could no longer claim they had not been warned about the risks” of smoking. Though hardly as prominent or as morbid as cigarette warning labels, responsible gaming messages serve much the same purpose, inoculating the industry in the event bettors get carried away.
From Losing Big: America's Reckless Bet on Sports Gambling
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The purpose of the ads is to create a nation of sports bettors, “a massive market for a previously nonexistent product category.
From Losing Big: America's Reckless Bet on Sports Gambling
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The first lawsuits against tobacco companies by smokers were filed in the 1950s, but the industry maintained an undefeated record in these cases for four decades. The opioid crisis began in the 1990s but took until the mid-2010s to gain national media and political attention, and a similar (albeit shorter) lag plagued lawmakers’ response to fentanyl. The Senate’s passage of the Kids Online Safety Act sponsored by Richard Blumenthal in 2024 came only after a leak of incriminating Facebook files and years of warnings about the deleterious effect of social media on young people’s mental health. Federal action on sports gambling regulation will likely face a similarly protracted timeline.
From Losing Big: America's Reckless Bet on Sports Gambling
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Too many young people and some not-so-young people are getting caught up in gambling without understanding how easy it is to get carried away or to become addicted. Some of these people likely would have run into trouble gambling anyway—a curious fact about American problem gambling is that rates have generally remained consistent for decades, even as states have expanded the menu of legal betting options. But many people like Kyle, only started betting because it was legal and, more importantly, because it was available on their cell phone.
From Losing Big: America's Reckless Bet on Sports Gambling
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The current sports betting regime is defined by insufficient regulations to protect gamblers, with too many states relying on the impossible dream of sportsbooks regulating themselves.
From Losing Big: America's Reckless Bet on Sports Gambling
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For decades, the [NFL] had a strict ban on all televised gambling references. Some announcers, like Jimmy “The Greek” Snyder or Al Michaels, would cheekily skirt this rule. If the outcome of a game was in hand but the losing team scored a touchdown that affected the over/under or the game spread, Michaels might note that the touchdown was “significant to some.” Such insider comments notwithstanding, the NFL’s stance on gambling ensured its broadcasts were gambling-free zones. These days, Al Michaels does DraftKings ad reads for Amazon Prime’s broadcast of Thursday Night Football.
From Losing Big: America's Reckless Bet on Sports Gambling
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