Posted: December 3, 2024, 08:16.
Last updated: December 4, 2024, 10:34 am.
Former Democratic president and New York City mayoral candidate Andrew Yang believes sports betting has a negative impact on American men and that states should do more to regulate the industry to prevent further harm.
Andrew Yang at the 2020 Democratic presidential debate. He said sports betting is harming American men. (Image: CNN)
In the editorial of newsweeMr. K, an entrepreneur and lawyer, admits to being a bettor himself and has been for several years after being seduced by a $250 promotion run by an unknown sportsbook. He admitted he wished he hadn't bet on sports, stressing that the activity plays into an emotion more common among men than women.
Online sports betting is a combination of things you enjoy on a visceral level: sports, money, speed, risk, and the idea that you know something that others don't. It's the perfect storm for men. It’s social and spending time on sports seems like a lucrative job,” Yang wrote.
Various studies have confirmed that although gender differences in addictive behavior have decreased in recent years, men are still more likely to become addicted than women, and this is due to the fact that alcohol and drug consumption alone are not enough. It also includes vulnerabilities to problematic gambling patterns.
Yang highlights economic impact and domestic violence
In criticizing sports betting, Yang cited some of the economic crises this form of gambling can cause. For example, he cited the statistic that for every $1 bettors wager on sporting events, $2 is not deposited into their investment accounts. A study published earlier this year by researchers at Brigham Young University (BYU), Northwestern University, and the University of Kansas confirmed that data.
The Forward Party founder also noted that bankruptcies are on the rise in households with at least one person who is an avid sports bettor, a phenomenon that is particularly concerning among men in lower income brackets. he added.
This is in line with a study published earlier this year by researchers at the University of California, Los Angeles (UCLA) and the University of Southern California (USC), which found that the prevalence of sports betting in the United States had a negative impact on bettors' credit scores. It has been confirmed that it is having an impact. And the number of bankruptcies increased.
Yang also said that negative emotions and stress from losing sports bets have led to an increase in domestic violence. “Legalized sports betting is linked to a 9 percent increase in domestic violence,” he said, citing unconfirmed research.
Yang blocks other states from legalizing sports betting
Thirty-nine states and Washington, D.C., now allow some form of sports betting, with the recent addition of Missouri. That number, and related iGaming numbers, could increase even more next year, Yang said, including states such as Alabama, Alaska, California, Georgia, Hawaii, Idaho, Minnesota, Missouri, Texas, He encouraged Utahns not to join the party.
He said gaming company lobbyists are likely active in some of these states, but policymakers need to resist their overtures.
“Online sports betting amounts to another tax on Americans that preys especially on vulnerable, low-income men. It increases financial stress and emotional problems. That's not what the public needs. ” concluded Mr. Yang.
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