Betting has had a profound impact on the sports industry since it was legalized in Tennessee, and students at Belmont University are seizing the opportunity to bet on games.
“It makes the games more exciting,” said Blake Vaezi, a Belmont student and sports bettor.
He said betting on games and watching along with his friends is a bonding experience.
Vaezi is one of many college-aged students who gamble on sports. A national survey from 2023 found 58% of 18 to 22-year-olds have engaged in at least one sports betting activity, according to the NCAA. This would equate to over 5,000 Belmont students.
Adam Fulton, a personal finance instructor at Belmont, said college-aged people are “an at-risk population.”
“There’s such a level of immaturity over financial literacy and understanding, or the consequences of poor financial management, that it can lead to some pretty catastrophic situations,” he said.
Americans legally wagered $119.8 billion on sports in 2023, according to the American Gaming Association.
Betting has created more incentives to watch games for many sports fans and it’s been embedded in the fan experience, from television commercials, in-stadium advertisements and as part of live game broadcasts.
“They are kind of tied in, one and the same,” said Brant Simmons, another Belmont student and sports bettor. “In College Football GameDay they’ll have the parlay that the commentators are recommending for the day.”
ESPN launched its own sportsbook in 2020 called ESPN BET, and it is frequently promoted in its coverage of live sporting events.
Chris Barnhill, who teaches Principles of Sports Finance classes, described this business model as a win-win for the network, but not necessarily for the bettor.
“From ESPN’s standpoint, the more you’re interested in a Tuesday night game against two teams you’ve never heard of before: that’s viewership,” he said.
Fulton said the ubiquitous advertising of sportsbooks and their celebrity endorsers such as LeBron James, Kevin Hart and Jamie Foxx are evidence of the success of the industry.
“In my knowledge of advertising, this is hundreds of millions of dollars being spent on that,” said Fulton. “If they’re stating that that’s reasonable on their side, it just shows me how much
money can be earned and how much money can be lost from myself on a chance.”
Betting has also encouraged students like Brant Simmons to watch games they otherwise would not have been interested in.
“It makes me more excited one way or another. I started to watch more basketball and college basketball just because I’m able to sports bet on it now,” he said.
Simmons said he has won roughly $200 from betting but does not keep track of his exact total. Both Vaezi and Simmons said they average a few bets a week and their average wagers range from $5 to $10.
Vaezi, who said he had lost money overall from sports betting, avoids gambling on sports he’s less familiar with.
“If you’re betting on Japanese table tennis, that’s when you have a problem,” he said.
Although Simmons has won money through sports gambling, he doesn’t believe it should be relied on.
“It probably shouldn’t be your main form of income, but it should just be a hobby,” he said.
-
This article was written by Nick Rampe.
Poker nights used to mean getting together with friends, but now I enjoy playing at www.1wincasino-pakistan.com. The bets feel real, the competition is fierce, and each hand is a test of patience and skill. Sometimes I dominate the table, bluffing like a professional. Other days, I lose to a straight flush on the river. But this is the game - always unpredictable, always exciting.