Sports gambling: A losing streak

Gambling is a widespread activity that is gaining popularity as it becomes more accessible, especially in sports. While sports betting might seem harmless, it can lead to immense financial loss and addiction. A Baylor College of Medicine psychiatrist explains the issues with sports gambling.

“Gambling is something in which you put your money (or something of value) for the intent of winning something,” said Dr. Asim Shah, professor and executive vice chair in the Menninger Department of Psychiatry and Behavioral Sciences at Baylor. “The theory behind gambling is that it brings thrill and adrenaline rush, which leads to dopamine release of neurotransmitters.”

People enjoy sports gambling for the exhilaration, engagement and financial gains. According to Shah, there is a huge amount of money involved because sports gambling causes excitement among sports lovers. Companies that market sports gambling websites and apps create hype around the hobby, which improves the chances of more gamblers getting involved with sports betting.

“People love sports and like to bet on underdogs because they associate themselves with that,” Shah said.

Those who do not normally sports bet usually start small. This often starts in a group setting where people gather to watch a big game. They start to do it for fun, then they win and decide to bet more, and it becomes a habit.

“People start it as something fun or with a little peer pressure, then it grows and can become pathological: betting online, spending excess money and using the credit card more than you should,” Shah said.

Warning signs of sports gambling issues include:
•    Betting more money than you have.
•    Becoming dishonest about spending habits. 
•    Preoccupied with bets: Only focusing on sports and the outcome. 
•    Financial losses. 
•    Poor functionality: Neglecting work and home life.
•    Depression and irritability.

“It has become easier to gamble because of technology. People who are into gambling may not be able to come out of it and can lose everything,” Shah said.

If considering sports betting, Shah urges people to understand the warning signs before starting. Sports betting is available at your fingertips and can be done from anywhere, which can lead to addiction.

While gambling is regulated in many states, it is illegal in Texas.

Learn more about gambling addiction here.